#TBT: The Tax Guy Who Died at His Desk And No One Noticed
We aren't sure why we've been getting tons of tips about this story considering it's only 11 years old and all — perhaps some of you are feeling a bit mortal these days? Dateline – Finland, January 2004: The man in his 60s died last Tuesday while checking tax returns, but no-one realised he was […]
#TBT: Convergence of International Accounting Standards Before Convergence Was Cool*
If you are one of the lucky few who has taken the CPA exam since IFRS was added into the mix, you may be surprised to know we've actually been at this whole convergence thing for some time. Except it wasn't always called convergence. Says FASB: The 1960s—Calls for International Standards and Some Early StepsInterest […]
#TBT: This Is What an Auditor’s Laptop Bag Looked Like Back in the Day
Says EY on Pinterest: "The ordering box that accountants would use to carry around documents. It contained the official firm stamp that auditors must use to stamp all documents to indicate that the firm is taking responsibility for the statements by the auditor.""
#TBT: That Time Conspiracy Theorists Insisted Enron Founder Ken Lay Faked His Death
Normally, having a heart attack is a terrible thing. As an old guy, it's near the bottom of your to-do list and you likely do everything you can to avoid it, including giving up cigarettes, red meat, and fast women. For Enron founder Ken Lay, a heart attack was the best thing that could have […]
#TBT: The Duty of an Auditor Back in 1896
Has an auditor's duty changed all that much in over a century? "It is the duty of an auditor to bring to bear on the work he has to perform that skill, care and caution which a reasonably careful, cautious auditor would use. What is reasonable skill, care and caution must depend on the particular […]
#TBT: That Time PwC Consulting Named Themselves After Everyone’s Least Favorite Day
From The Wall Street Journal June 9, 2002: PwC Consulting became the latest consultancy to flee headlong from the tarnish on the once-sterling accounting profession, announcing it will change its name to Monday when it completes its separation from accounting company PricewaterhouseCoopers LLP. PwC Consulting, a management-consulting and technology-services business, announced in March that it […]
#TBT: Could You Answer These Questions From the First CPA Exam in 1896?
According to A History of Public Accounting in the United States by James Don Edwards: The first examination was given by the New York Board of Examiners on December 15 and 16, 1896. The first section of the examination, on the theory of accounts, was given on December 15, 1896 from 9:15 A.M. to 12:15 […]
#TBT: That Time Mustang Was Marketed to Harried Public Accountants
Should a harried Public Accountant drive a relaxed private fun car like Mustang? The California Board of Accountancy tells us the average yearly salary for a CPA in 1964 was $6,708.42. A 1966 Mustang, like the one the "frazzled figure-wrestler" in the photo above is driving, started at $2500 base.