In what might be the biggest rager of the weekend, the International Federation of Accountants (IFAC) are meeting today and tomorrow in London to get down to brass tacks on the whole global meltdown thing.
Also on the agenda for the IFAC: Coming up with a plan to get one set of global accounting standards, and also figure out how to convince the likes of Maxine Waters to BTFO of accounting rules and stick to cooking up dead-end legislation on banning of credit default swaps.
Let us know how it goes.
Accountants’ Group Calls for Single Set of International Rules [Bloomberg]
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Morale Boost – What’s it Going to Take?
As we reach another major deadline tomorrow, the rumors about layoffs have begun again. After years of bragging about how the awesome job security we all enjoy, accountants now find themselves as expendable as any other profession.
While that might be a stretch, it certainly feels that way. Morale at most firms continues to be in free fall but the communication from your firms seems to indicate that leadership has their heads in the sand when it comes to how you’re all doing. Instead, the message seems to be “we need you to do more, with less” but we really, really appreciate it.
Try to feel better, after the jump
Since one firm has already decided a certain, end of the year party isn’t going to happen, anything short of setting up kissing booths filled with Kardashians or Clooney/Pitt types, isn’t going to get the remaining troops to rally for the upcoming busy season.
And judging by your discussions, the upcoming busy season might seem like something between the fourth and fifth circles of the Inferno. So in order to get some ideas thrown out there, discuss in the comments your suggestions so your firm can get your love again.
We’ve already suggested McGladrey & Pullen make better use of their relationship with Natalie Gulbis but we’re not holding our breath on that front.
About to Get Canned? Depends on Your Response
With all the uncertainty out there, for the first time, number crunchers are walking on eggshells, because, you know, if anyone gets the hint that you’re not busy enough, before you realize it you’re turning in your badge and corporate card with $500 of still unexplained expenses on it.
Here at Going Concern, we’re looking out for you, so that’s why we’re going to lay out some indicators for you so you can tell if you are about to get axed or if you should just buckle down and call for take out because your ass isn’t going anywhere.
Here are some common responses to the awkward icebreaker that is common around most offices, “You busy these days?”:
• “Ugh, you know how it is” – You’re safe. Maybe it’s the bags under your eyes, your shirt being on inside out, or maybe you just reek of tequila because you spent the four hours prior to returning to work reliving your days at Tappa Megga Kegga. Unless you plan on going postal at the office, you’re not going anywhere.
• “Oh pretty busy” – Watch yourself and lay low. You’ve got stuff to work on but not enough to keep you at the office past 6 pm. Every once in awhile you’ll stay late and catch up on your Netflix queue in order for it to look like you’re not leaving GASP too early.
• “I’m working on a project for HR” – Dust of the resume. The only reason they’re keeping you around is to bide time until judgment day when the rest of the people are going down with you.
Rumor around the campfire is that some of the firms are billing far fewer hours than are budgeted which could spur some additional cuts so watch out for responses similar to the ones above. The bloodbath may not be over yet.
Hopefully the IASB Gets the Point
After learning yesterday about the Accountancy Age Awards we thought that the celebration of accounting couldn’t get any better. And by “better”, we mean incredibly lame.
Satire being a common theme here, we definitely appreciate Christian Aid‘s attempt to help accountants, most specifically the CRAPASS IASB, to reconsider their indirectly screwing of poor countries:
Continued, after the jump
The International Accounting Standards Board (IASB) has been handed a tongue-in-cheek award from Christian Aid, after winning the charity’s Greatest Potential for Tax Reform award…PriceWaterhouse Coopers (PwC), KPMG, Ernst & Young and Deloitte & Touche also collected awards…Campaigners want the Board…to instigate urgent and far-reaching reforms – including forcing companies trading internationally to report profits made and taxes paid in every country where they operate. Christian Aid estimates that countries in the developing world are deprived of $160 billion annually in lost revenues by companies disguising their tax liabilities.
This is probably the closet thing to a Razzie that exists for the accounting industry so we’re happy to support them for the sake of argument.
If you’ve got other ideas about other awards that accountants deserve and who the recipients are, submit them in the comments.
Accounting Standards given tongue-in-cheek reform award [politics.co.uk]