Wednesday, January 28, 2009

Double Entry

This is not a diss on all accountants, only on those who can’t think “outside the box” (this phrase is a cliché and I don’t like using it to criticize people, but it’s just appropriate). Plus, I promised myself I won’t get annoyed on the smallest things anymore but OMG this fried my brain!

I don’t get why a one peso (or in some cases, 1 CENTAVO) reconciling item should merit about four pages of e-mail exchanges (It started with something like “We have P1 discrepancy. For your immediate action” and then about 4 departments were copied in the email, in essence trying to assign blame responsibility). I understand the need to balance the books and to account for every single centavo, but if the difference is VERY CLEARLY due to rounding-off of figures computed when the accrual was made versus the actual billing statement received from the counterparty (which is the basis for payment), do we even need a discussion on how it must be booked? Or, as suggested in this case, pay the counterparty the difference of 1 FREAKIN’ peso?! Would booking the one peso discrepancy in Miscellaneous/Other Charges be such a big audit red flag? Yes? No? Maybe?

You know, this is one of the reasons why (as some would put it) I wasted my CPA license by not pursuing a career as an accountant. It’s mechanical and monotonous. It didn’t help that some whose thankless job is to book, balance and reconcile would only do those things and nothing more. A bit of analysis every now and then is not out of the scope of one’s responsibilities. Like in this case, what is 1 peso compared to the hours wasted in those email exchanges? Or in that gah-awful scenario when the counterparty gets a refund of 1 peso? We don’t even need some analysis here, only logic.

Again, I am not dissing the accounting profession in general. Even if I’m not a practicing CPA, I’m proud to be one and I have respect for most accountants. I have friends who are accountants and they are good in what they do. I just don’t like some corporate lackeys with bean-counter mentality. They give accountants a bad name.

Rant hopefullyover.

In other, more fun, news:
It amuses me no end that my officemates are listening to Arashi songs and are NOT COMPLAINING about it. I managed to sneak in a couple of songs in our department’s mp3 database and the songs have been randomly playing for quite a while. I guess they were already used to my random taste in songs (they’ve been subjected to System of a Down, Menudo and sappy OPM Christmas songs, to name a few) that they don’t care anymore what I play.

I – I’m yet to try playing Arashi songs in our car when my brother’s driving. It’s still my car, even if I’m not driving it, and I love it because the insurance and maintenance costs are OMG mahal too much to risk any damage my brother might inflict on it. I’ll start on his PSP first. (He used to like Jerry Yan in Meteor Garden, so my hopes are high.)

P.S. Aren’t you amazed how I can still mention Arashi in my posts even when I’m ranting? Yes? No? Maybe?

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