Discussion:A Funny for Today
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> General Chat --> A Funny for Today
CathysTaxes (talk|edits) said: | 14 March 2012 |
| This is a true story................
My husband's employer hired a CPA for their small company (on the advice of an outside auditing firm). The CPA is in the office manager's office discussing a P&L... Office Manager: For years I've been trying to get "Felix" (hubby's nickname) to show EMPLOYEE PAID FICA on the P&L and he isn't. Why can't he get it right? CPA: Employee Paid FICA is paid by the employee and is not an expense of the company. Only expense and income accounts can show on the P&L. | |
Bottom Line (talk|edits) said: | 14 March 2012 |
| The next question is what did the employer say? | |
CathysTaxes (talk|edits) said: | 14 March 2012 |
| She was speechless. She didn't expect the CPA to agree with my husband. I told hubby he should keep a camera on hand (his desk is right next to her office) because the CPA will be vindicating him on several other issues. | |
| 14 March 2012 | |
| And he still has this office manager because? I have a client who has an office manager who thinks that inventory is an expense and not an asset. Who doesn't understand that the Balance Sheet tells more about the bottom line than the profit and loss does at times... | |
| 14 March 2012 | |
| I love those clients who think that office manager and accountanting responsibilities should go hand in hand. The office manager usually knows how to manage the clients and employees dealing with said client...they know beans about how to do any accounting. | |
| 14 March 2012 | |
| I have a client who has an office manager who thinks that inventory is an expense and not an asset I had such a client years ago. Had been told by previous acc't. to buy inventory before year-end as a means of reducing income. Obviously, reported inventor may have been "off" a bit. OK, before you ask, yes, we straightened him out on it. | |
Harry Boscoe (talk|edits) said: | 14 March 2012 |
| ...and when one is acting "accountantly" - that is, being noble, honest, loyal and conniving - he or she will *from now on* be said to be "accountanting." Thank you, Laticia. | |
To join in on this discussion, you must first
log in.
