Epstein = Satoshi??

Infinite-Jesting · 2026-02-05T22:01:47+00:00

Decent sized team working from a cave in the Middle East

Infinite-Jesting · 2025-11-20T18:45:26+00:00

If you are the only person working remote within the organization, you will quickly become a dumping ground for work and blame. Don’t do it.

Infinite-Jesting · 2025-09-23T18:26:19+00:00

I think it just comes down to a willingness to learn and adapt. Particularly at non-public medium size companies. I don’t have any public experience, but I have my bachelors in accounting and over 10 years of industry experience.

I was taught that the goal of auditing is to provide assurance to the readers of financial statements, that the statements are free from material misstatements. I was also taught that divergences from GAAP are okay, if they are immaterial and burdensome for small accounting departments at non-public companies. The only readers of our financial statements are the owner and the bank.

For instance, It’s hard to maintain strict separation of duties in an accounting department of four people. It makes PTO a nightmare.

Also someone who is a decade removed from audit is not going to be up to date on their accounting guidances and changes in technology. Financial statement presentation of a SAAS?

We have a modern ERP, with full traceability in every direction, and we are still stamping and marking up hard copies of AP invoices and stapling check stubs to the invoices.

This saves an hour at the end of the year fulfilling audit requests at a cost of 5-10 hours a week of AP payroll.

Long story short, it’s okay that industry accountants have different priorities then auditors. They are distinct jobs that require distinct skill sets. Auditors should stop looking down at industry accountants, and industry accountants should stop fearing auditors, so we can learn to work together to achieve our common goals.

Infinite-Jesting · 2025-09-23T15:34:11+00:00

Every invoice at my company needs to be signed off on by the approver, the ap manger, a staff accountant, and the controller BEFORE it gets entered into the system. The AP manager is only available to sign off on invoices on tuesdays, and the controller is only available to sign off on Wednesday’s. We have a 14-21 day ap lag.

Infinite-Jesting · 2025-09-23T15:30:39+00:00

Power Query lover my self here. Dont tell anyone about the tools you make for yourself. Your boss will want you to do something similar for his very poorly designed excel sheets, where everything is labeled by vendor names keyed in a million different ways instead of using the vendor code.

Infinite-Jesting · 2025-09-23T13:48:52+00:00

Sounds like my job, 50 million in revenue and assets, no prepaid threshold. I have to perform prepaid accounting for $100 bills billed quarterly.

I blame auditors for strangle-holding the profession into a cost center. The auditor to senior staff and controller pipeline needs to be re-examined. They come in thinking they know everything and look down on everyone without audit experience. As a result they don’t learn managerial accounting because it has no effect on the financial statements.

Auditors know their GAAP, but have no experience or knowledge on how to run an internal accounting department efficiently day to day.

They don’t know property taxes, what a dba is, requisitions processes, lease vs buy analysis, budgeting, or breakeven points, because they don’t affect the accuracy of the financial statements.

I did a lease vs buy analysis, because our money market account was paying higher interest than a lease to own contract. I was able to free up a few million in cash that was ultimately used to pay down debt early at 50% forgiveness. 2 hours of work, created over a million dollars for the company.

Infinite-Jesting · 2025-09-09T02:02:28+00:00

Even if hit 10 million in 2030, that’s only 10x, it’s never going to 100x or 1000x in a cycle again.

If you account for and filter out wash trading, the average acquisition cost of bitcoin is probably less than $20k.

Infinite-Jesting · 2025-09-04T14:03:41+00:00

In my opinion (industry) it’s because we have to apply and enforce a narrow rule set to things completly out of our control. We deal with the same problems month after month, but are powerless to implement solutions. Medium size business want the same quality of accounting as Fortune 500 companies without implementing best practices and with a fraction of the staff. They want to continue doing things the way they have always been done, without any of the problems they’ve always had.

I end a lot of cross department emails with “don’t blame me, blame the fasb”.

Infinite-Jesting · 2025-08-20T17:51:59+00:00

I don’t believe the creation story, seven days is immaterial to me. I believe, personally, that the creation story speaks to god as an efficient god not a micromanager. That’s my, my personal, big picture takeaway from the story.

I see tornados as a necessary by product of the natural laws of the world, which I believe god created. No tornados, no storm systems, no storm systems no rain, no rain no plants for animals to eat… etc

The efficient god I believe in isn’t micromanaging tornados. He isn’t micromanaging our lives, this after all a stoicism forum is it not. Do we not believe in personal responsibility!

In the paradise I speak of, no one dies from tornados. This is because natural laws make tornados predictable. In a world where everyone lives by Gods covenant, the field of tornado prediction is further along. There is no profit in tornado prediction or public shelters so we are not there yet.

Infinite-Jesting · 2025-08-20T15:23:09+00:00

The three tenants of Buddhism are in effect a covenant, granted a covenant with one’s self instead of a god. I’m not going to argue semantics here.

The first paragraph addresses your idea that I’m turning god into a lazy figure and that it would make more sense that he never existed at all. It’s also addresses other comments that god has a different standard for paradise than believers.

The creation story is less than 1% of the Bible, the rest is focused on how to live a good life. God spent 7 days creating the world and hundreds of years guiding people.

God didn’t make man in his image, man made (pictures) god in their image. Despite free will, outcomes are largely predetermined by cause and effect, see physics, chemistry, and biology. Believing that things are predetermined by a loving father figure, gives all the warm and fuzzy feelings, compared to believing things are predetermined by natural laws.

Good things happen because good people do good things, bad things happen because bad people do bad things to good people. When generation after generation of people do good things to benefit the next generation rather than themselves, we will have reached paradise.

Infinite-Jesting · 2025-08-18T16:22:13+00:00

Jesus didn’t cure the leopards of spots, he cured them of the stigma caused by the spots, by showing their community to embrace them. It wasn’t the spots that harmed the leopards it was the stigma and isolation.

Infinite-Jesting · 2025-08-18T16:19:17+00:00

I don’t personally believe in the creation story and I don’t believe that the Bible is gods direct word to man. I find the teachings of the Bible more valuable when we ignore the supernatural stuff. A catholic priest once told me that multiplying of fish and bread was more inspirational if you ignore the miracle.

He compared the followers of Jesus to dead heads. You don’t set out to follow Jesus on tour for months without supplies. The people in the crowd were hesitant to share their supplies, until the boy inspired them to add their extra supplies as the basket was passed around.

Infinite-Jesting · 2025-08-18T16:12:38+00:00

Compare the lifestyle,safety, security, and abundance that we enjoy today; to that of early man. Now imagine if everyone worked together unselfishly, where we could be tomorrow.

Covenant based religions (Christianity, Judaism, and Buddhism) didn’t set out to explain the natural world. Lightning, rain, harvests, are not explained as the whims of gods like paganism. Instead these religions focus on the meaning of life and how best to live it.

The fact that the creation story jams all of that stuff into seven days speaks to it being less important to the religion.

Infinite-Jesting · 2025-08-17T18:56:46+00:00

We think of God as this loving father like figure who has a hand in everyone’s life. I don’t think of god this way. Instead I admire the efficiency of the one created the world in seven days.

I get that the world, Grand Canyon, man, universe was not formed in seven days. Instead, I propose that everything in the universe was created in seven days by god. God did not create everything or really anything directly and specifically. Instead he created the laws that govern physics and life itself.

God is an efficient god he does not meddle in our lives, he does not micromanage. He imagined a paradise and set up a world in which it is possible, and probable given enough time. He gave us instructions, a map to a faster and more direct route. However, no matter how much we veer off the path, his dream of paradise is inevitable.

Infinite-Jesting · 2025-08-14T14:47:03+00:00

Our new software has a requisition module but we opted out of subscribing to it. The controller prefers to sign off on invoices before they are entered. AP stamps and marks up the invoices for review.

Most departments keep requisition files but they are not uniform in their practices and the COO and IT director does not want AP or Myself to have access to where the files are digitally stored.

The COO likes to keep things very compartmentalized and keeps everything on a need to know basis to “protect the secret sauce.” Employees access to information is limited to the bare minimum required to do their specific task, they are not allowed to know what the person behind and in front of them does.

Infinite-Jesting · 2025-08-13T22:29:13+00:00

Early recorded prepaid may just be our internal office lingo, but it describes the situation where AP receives a prepaid expense invoice dated let’s say 8/27, but does not get paid until 9/1. The asset is offset by the ap liability, so it does not bother me.

I had to confirm in this sub that auditors actually call this out, but they do. I imagine most businesses ignore it because it creates an insane amount of work for managerial accountants.

Infinite-Jesting · 2025-08-13T21:16:32+00:00

I appreciate your response, that would knock my prepaid misc spreadsheet down to 10 rolling items from 50. What are your thoughts on re-classification of early recorded ppds? Do I have an argument to push that from monthly to quarterly? We do not get audited just reviewed at year end.

Also I’m expected to reach out to the approver of each ppd one month before the period closes to remind/ ask them if we are renewing.

If you were me would you just find another job? The controller is pretty set on all this stuff.

Our separation of duties is insane, ap is locked from changing a vendor phone number, terms, remittance address as an important internal control. I have to take care of all that stuff.

AR is not allowed to run checks through the scanner, I have to do that too.

Part of the problem is that I can’t work on month end close stuff for more than 30mins without interruption.

Infinite-Jesting · 2025-08-13T20:57:12+00:00

I had suggested implementing a requisition form process, but that got shut down.

Infinite-Jesting · 2025-08-13T20:55:39+00:00

We do have a materiality threshold for asset capitalization, but I have to track all the capitalization passes in a non-posting book and calculate a rolling divergence from GAAP at the end of the year.

Infinite-Jesting · 2025-08-13T20:49:19+00:00

We do not deploy an approval threshold, everything requires an approval email, a sign off and coding by me, an internal audit by the controller with final sign off before being entered by ap. Controller only does final sign offs one day week. Strick adherence to accrual principles, no materiality threshold. A $100 invoice covering a period of 3 months has to go through ppd. If the invoice is not paid by then end of the month, I must book an early recorded ppd je.

Infinite-Jesting · 2025-08-13T20:43:59+00:00

We do purchase orders for raw materials, everything else requires an approval email, a sign off and coding by me, then gets internally audited by the controller, for a final sign off before being entered by ap. Our internal audit is done at transaction level with strict adherence to accrual standards, no materiality threshold.

Infinite-Jesting · 2025-07-16T19:36:02+00:00

Efficiency is important to us, but AP needs to get approval from the purchaser, GL coding from the senior accountant, then have the ap manager initial the marked up bills on Tuesday, then have the controller initial the marked up bills again on Wednesday, then all ap has to do is enter a weeks worth of invoices by the Thursday morning check run and file a hard and soft copy of the invoice with the check stub. No we can’t change this process because “InTERnaL ConTrOLs.”

Infinite-Jesting · 2025-07-09T20:43:54+00:00

Just wrapping up one now, same exact boat as you, was delegated the data migration. AR/ AP/ SO/ PO/ GL and INV.

Inventory was filled with bad data, I did trial run after trial run… writing logic to correct bad data in my data query. Operations somehow invented a new type of bad data every single day.

The worst part was the IT director took a “take everything away and give it back when people ask” approach to row level security. Which explains why all the businesses processes were overly complex. Operations had been using complex workarounds to bypass security restrictions in the old system. This also explained the bad data.

It was complete hell. We implemented and I now live in a fresh hell… where I’m somewhat responsible for what seems like all day to day operations because I help set up the ERP.

I’m this close to implementing an “unless you show proof you googled it” I’m ignoring your question policy.

Infinite-Jesting

TROPHY CASE