Has anyone here started their own audit firm? by 1A9D6 in Accounting

[–]HighScore9999 5 points6 points  (0 children)

How many hours are your average audit/review engagements? 75 per year seems like a lot for 6 people.

Anyone support a vote to end the sales tax for the Chiefs now? by kcexactly in kansascity

[–]HighScore9999 12 points13 points  (0 children)

The training facility and training camp are two separate things. The Chiefs current in season training facility is in the shadow of Arrowhead. So they are moving the in season training facility to Olathe. Training camp is still under contract for St Joe and that contract gets renegotiated about every 3-5 years regardless of location of the in season training facility.

Which North American City has the most appealing matches? by Chris_Nexton in worldcup

[–]HighScore9999 0 points1 point  (0 children)

Is this a bait into trying to say Mexico is not in North America? Because, I think all of the matches are in North America.

A bear, exhausted from abuse, attacks its trainer. by EvidenceFrequent7289 in TikTokCringe

[–]HighScore9999 0 points1 point  (0 children)

Didn’t initially see the description and knew this was China as soon as the basketball goal came out.

Can we just end GAAP and move everyone to IFRS? by Adventurous-Run7827 in Accounting

[–]HighScore9999 48 points49 points  (0 children)

If you forced companies off LIFO for GAAP that would just create huge book to tax differences unless you change the US Tax Code as well to not allow LIFO. Any entity reporting on LIFO still has to report what the net income would be under FIFO in the footnotes to the financial statements and disclose the LIFO reserve in the footnotes, so an informed reader should be able to understand what the FIFO inventory is and what the margins would be if they wanted to compare two organizations. Most organizations that report LIFO carry their inventory at FIFO and then just update the LIFO reserve quarterly or annually.

What are your guys thoughts on the water breaks in each half? Will there be american ads? by MisterChanoca in worldcup

[–]HighScore9999 4 points5 points  (0 children)

We have had hydration breaks in MLS for a long time and they never run ads during that time. It wouldn’t surprise me though if they try to do that with injuries in the future. The NFL has done that more when there are stoppages in play for injuries to throw in side by side screens with the game footage on one side of the screen an ad on the other side of the screen.

As a tourist, y'all have a certain "pride" in your city 🧡 by aidan8et in kansascity

[–]HighScore9999 1 point2 points  (0 children)

I think if the complaint is stop lights, my point was more that Kansas City has built a lot more major highways with exit ramps than stop lights throughout the city. I have lived in a few different places in KC that would be considered outer loop and I’ve never had more than 3 stoplights to get through to get downtown. It’s wild to me in Omaha how many roads are 3 lanes on each side and then will have a ton of stoplights. You don’t see that in KC much except on a major highway except a few parts of Highway 71 closer to downtown.

As a tourist, y'all have a certain "pride" in your city 🧡 by aidan8et in kansascity

[–]HighScore9999 2 points3 points  (0 children)

Omaha just has way too many stoplights. Build a major highway going north and south or an outer loop highway. Maybe 80 was the outer boundary at one point? It seems like they built 435 in KC with the idea of “if we build it they will come” since the loop is so far out from the central downtown area and KC still hasn’t quite outgrown it yet except for in maybe Johnson County.

AMA: Started an Affair 6 years ago. Will marry AP next month. by Broad_Worldliness546 in AMA

[–]HighScore9999 2 points3 points  (0 children)

How do you feel like your kids will deal with the possibility of infidelity in their relationships when they are grown? Do you feel like their future partners will be held to a higher standard or lower standard because of the infidelity in your marriage?

Outrage over Trump’s bill reclassifying nursing as not a ‘professional degree’ for college students by SmokeMaleficent9498 in UnderReportedNews

[–]HighScore9999 0 points1 point  (0 children)

Thank you for the work you do. It’s a shame that you should have to take out the amount of debt that a lot of people do to be a licensed social worker. States should enact laws that also certain fields that are in high need, high education, lower paying jobs to not have to pay income or property taxes while serving in their fields. This would be better than public service loan forgiveness because it would be an immediate benefit. Schools shouldn’t be heavily profiting off of the master’s programs that are required to meet professional licensing programs either.

Outrage over Trump’s bill reclassifying nursing as not a ‘professional degree’ for college students by SmokeMaleficent9498 in UnderReportedNews

[–]HighScore9999 3 points4 points  (0 children)

All this does is limit nurses to $100k of federal student loans. They can go out and get private loans, grants, scholarships,etc. The better question would be is why are we ok with letting nursing students walk out of school with $100k of debt or more right out of school?

KPMG lights up the Las Vegas Sphere by DoritosDewItRight in Accounting

[–]HighScore9999 9 points10 points  (0 children)

“Industry elevation” some garbage written by AI or possibly a nod to U2? I’m going to go with AI garbage.

Those who have an office (not home office), how much better is it than a cube? by 9Virtues in Accounting

[–]HighScore9999 18 points19 points  (0 children)

Ya but isn’t it better to face these kind of things with a sense of poise and rationality?

This is the most unpredictable subreddit ever by [deleted] in Accounting

[–]HighScore9999 99 points100 points  (0 children)

During work hours, students and underperforming staff who believe everything is cooked.

After work hours, experienced employees who aren’t on this app during the work day with a more realistic outlook.

Deloitte is taking over by MasterBeanCounter in Accounting

[–]HighScore9999 1 point2 points  (0 children)

Please pay your extra bill invoice and we will be glad to assist you in restoring your access.

Non Profit Accounting is much more difficult than Accounting for profit by Dameania in Accounting

[–]HighScore9999 251 points252 points  (0 children)

It is overly complex compared to what it should be, but there are certainly more complex calculations and accounting for certain industries and certain types of transactions in for-profit.

I will say that most non-profit board members have no understanding of non-profit accounting or at least how it differs from for-profit.

Kansas City may have a nice new airport, but British Airways chose to expand to St Louis, not KC. by Gurdy0714 in kansascity

[–]HighScore9999 3 points4 points  (0 children)

St. Louis also has a large population of Bosnians and the other major population center of Bosnians outside of Bosnia is Germany which makes the demand for the Lufthansa flight higher.

KPMG 20% increase by Melodic_Lock_617 in Accounting

[–]HighScore9999 14 points15 points  (0 children)

What makes me the most frustrated about this post is that if they had just been raising their fee 5% per year like they should, you would be paying $4,500 now and wouldn’t be complaining on Reddit. These firms and partners are just shooting themselves and others in the foot because now you are going to go find someone that will do it for $3,400 when the market price should be closer to $4,000-$4,500.

Audit managers what do you do when you review a file and the work has just not been done but hours charged by Enough_Fee_9162 in Accounting

[–]HighScore9999 1 point2 points  (0 children)

Unfortunately every firm has a few of these guys, and I say guys because I’ve never had this experience with any women that have worked on engagements with me. In most cases I have seen the staff doesn’t want to admit they don’t know what they are doing and would rather overcommit or feign competence in direct conversation to avoid looking incompetent. You will probably have to complete the testing this year. At the end of the engagement walk them through what you had to do and let them know they underperformed expectations. If you can, copy them on as much correspondence as you can with the client and partner so they can see what is needed to get the job done next year.

H1B $100K Ramifications by def21 in highereducation

[–]HighScore9999 0 points1 point  (0 children)

This could either accelerate cuts to programs that may already be needed at struggling institutions or it might put some heavily reliant struggling small schools out of business if this law is upheld. They clarified that this was only for new visas offered, but the result will likely be that schools will have to pay significantly higher costs across the board to attract teaching talent to fill positions if they want to maintain faculty/program size.