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MN Studier
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Posted: 02 Mar 2009 at 19:26 | IP Logged  

CPAKillah wrote:
gmeyers wrote:
Is it so unrealistic that some people might actually find their job interesting
and use that rather than money to choose a career? Glorified overhead? You
have a terribly naive view of the range of services provided by accountants.

Trust me, the vast majority of people that enter accounting care nothing for the profession. A lot of them couldn't cut it as engineers or couldn't survive on liberal artsy dreams. For those that are business ambitious people to begin with, accounting is seen as a stepping stone to something better, never the final destination. Then we have the final group who don't particularly care about anything and just want to get their paycheck and be home by 5 to walk the dog.

I think you have a far too exalted perception of accounting. Take auditing for example, if there ever comes a time when computer controls were so robust that financial reporting can be trusted to be accurate right off the press and auditing as a profession became extinct, no one would shed a tear. The process is not a value-adding part of a business. Only necessary because people can't be trusted. Same with tax, only necessary because the tax code is too much complex for its own good. Some small businesses spend tens of thousands on tax preparation when they barely break even. It's ridiculous

You don't have a clue what you are talking about. I don't know one person that is an accountant that wanted to be an engineer. While there is likely to be the exceptions, it certainly isn't the norm. And doesn't that happen with every field, some enter it for the wrong reasons?

From your posts, its obvious that you are not an accountant, I'm not sure why you are on this board. Almost everyone I know that works in the accounting field are people that enjoy business and wanted to work in a conservative field. And that's what accounting is, you will most likely never make a ton of money, but you will likely always have a job.

Some small businesses spend tens of thousands of dollars to get their tax return prepared? Are you kidding me? Do you realize how big a company would have to be to have a tax prep bill in the tens of thousands? If you worked for a public accounting firm, you would know.  You obviously never have.

So why don't you run along now and go talk about a subject you are actually knowledgeable in, because the accounting field clearly isn't it.



Edited by MN Studier on 02 Mar 2009 at 19:28


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CPAKillah
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Posted: 02 Mar 2009 at 20:53 | IP Logged  

I'm a Big 4 auditor in NYC and I know that my engagement of a handful of people bills a hedge fund a few million a year for doing very little value-adding work. We're part of the process that makes money managing such a rip-off business. But hey, at least it's the rich people that's being ripped off with the hedge funds. Mutual funds and its respective overhead (including auditing), now that's a different story. Unfortunately, that's how things are through the unfiltered lens and just because you disagree doesn't mean I don't know anything. Your post also failed to provide anything of substance besides ridiculing mine.

The small business spending tens of thousands for a tax return remark was from a CNBC interview with a small business owner who felt the tax code was too unnecessarily complex. And it is -- it's a complete racket for tax preparers. And I know how billable hours are fudged too. I did intern at a small CPA firm as a freshman during tax season. If it was a Big 4 firm doing the small business's return, 10 grand would be like what...not even 50 hours of billable work? It's easy to see how it could run into the tens of thousands.

As for your description of the people you know, that's exactly what I'm talking about. Stripped down to its simplest components, they're in it to get a paycheck. It's not their passion and many are content to remain in the same positions for decades. But of course, age discrimination is very popular these days.

Edited by CPAKillah on 02 Mar 2009 at 20:59
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lelik
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Posted: 03 Mar 2009 at 10:22 | IP Logged  

"You don't have a clue what you are talking about. I don't know one person that is an accountant that wanted to be an engineer. While there is likely to be the exceptions, it certainly isn't the norm. And doesn't that happen with every field, some enter it for the wrong reasons?"


MN Studier, I wanted to be an engineer (everybody in my family is an engineer), but the economy is my country was such that the engineers didn't make any money. I went to the business school instead, and I really enjoyed it (and still am). I doubt that people can be good at only one thing. Math/CS and accounting are not that far apart. :-) I am still thinking about getting the CS degree. The only thing that stops me is a lack of free time (I am not going to give up my job.. ever) and $35,000 for the Master's degree.

About tax returns: one simple individual tax return prepared by H&R Block runs for around $400. I can easily see how the companies pay thousands and thousands of dollars for something a little bit more complex. I agree with CPAKillah that we are just a part of the system. Accountants don't produce anything. Yes, very good accountants can save money; however, the majority does the data-entry. I saw what happens if irresponsible people start dealing with the money, but it seems more like an exception than the rule. It's all about the access to information. Give the same accounting systems, same information and tools to any person who doesn't have BSA/MSA, and they will be able to figure out the rest.


Edited by lelik on 03 Mar 2009 at 10:22


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NewFloridaCPA!!
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Posted: 03 Mar 2009 at 13:38 | IP Logged  

What is a "CS degree" ?
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lelik
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Posted: 03 Mar 2009 at 13:49 | IP Logged  

Computer Science

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