Posted by TJ on Thursday February 15, 2007 @ 05:33 AM
[Tags: accounting, faq, taxes]

I have a snow day today so... I figured I'd put together a frequently asked question (AKA FAQ) about accounting. Oh my.. My life is so intense.


Who are you to be able to address this important issue? I have a B.S. in accounting, am a CPA and have been working in public accounting for 3 years

Does the musical "The Producers" accurately describe the accounting profession?

In some regards yes. My boss treated the whole office to this musical in NYC and we found the musical quite funny in how accurataly it really was. We were of course all drunk though since we were drinking in our limo on the ride down.

Accountants only do taxes... right? Right?
NO. Taxes only make up about 20% of an the average public firms revenue. There are audits, consulting, and other services that accountants perform. Engaged accountants can be responsible for a company accurately depicting their financial condition, this has nothing to do with taxes.

Accountant are always dull, boring, and like to pick their nose
There are some people like this that we work with, but not all of us are like this. Though you probably run into these people in every profession.

Is the work always repetitive, mundane work?
Not always. It all depends where you work. If you work in at a large CPA firm your probably specialize in one department and maybe be doing the same everyday. However if you work for a small firm you may get to do a little bit of everything. I work for a small firm so one day I could be doing a tax return and the next I could be auditing a corporations books, it keeps it interesting.

Will you do my Taxes?
Yes sign up for 2007 will begin after April 15th, 2008 once I'm done with the busiest time of my work year. Late fees may apply.