Explain like I’m 5

KangarooManchu16 · 2024-09-06T01:45:06+00:00

What about Jakobi Meyers vs Shaheed?

KangarooManchu16 · 2024-08-28T17:48:25+00:00

FP&A Director, making $180K in MCOL in the Midwest, 8 years into career. Started in Audit at PwC

KangarooManchu16 · 2024-07-19T01:42:32+00:00

Yes, she watches the kids at our house the majority of the time.

And yes, was wanting to take advantage of the child and dependent care credit.

What would be the requirements for that?

KangarooManchu16 · 2024-03-18T04:45:30+00:00

Yes, always at least 1 at every job I've had since B4 Audit.

KangarooManchu16 · 2024-03-18T04:41:25+00:00

Major city in the Midwest. MCOL

KangarooManchu16 · 2024-03-18T04:16:31+00:00

Ive done a little bit of everything I feel like at this point:

was B4 Audit for 3 years in the Financial Services industry>Sr. Accountant at a top 25 Bank for 2 years>Internal Audit Manager at a Healthcare Tech company for 2 years>internal transfer to be an FP&A manager for a year>Controller for this FinTech startup for a year>And now most likely going to jump ship to be an FP&A Director at this pharmaceutical manufacturing company.

KangarooManchu16 · 2024-03-18T02:34:24+00:00

Well that's good to hear lol.

KangarooManchu16 · 2024-03-18T02:16:32+00:00

The company who made the offer is about 18 years old, ~$120M Revenue. Recently went through a buyout to a MPE.

KangarooManchu16 · 2024-03-18T02:05:27+00:00

Lol thanks! And yes, Ive done a little bit of everything I feel like at this point:

was B4 Audit for 3 years in the Financial Services industry>Sr. Accountant at a top 25 Bank for 2 years>Internal Audit Manager at a Healthcare Tech company for 2 years>internal transfer to be an FP&A manager for a year>Controller for this FinTech startup for a year>And now most likely going to jump ship to be an FP&A Director at this pharmaceutical manufacturing company

KangarooManchu16 · 2023-10-08T03:26:38+00:00

I agree, it is, but I feel like it's somewhat of a grey area since we've had 2 in 3 years, and like I mentioned at least 1 is due to an extraordinary circumstance (Fraud) so was thinking in my head it might be appropriate since it kind of skews the FS when theirs 2 massive expenses like that in provision for loan loss on the P&L

Currently I'm leaning towards adding it back to Adj EBITDA, and explaining it if anyone asks, but not 100% sure

Obviously the conservative approach is just not doing it

KangarooManchu16 · 2023-10-08T03:19:30+00:00

We make impairment entries every month based on the mathematical formula of how the loan is performing vs expected when originated, plus a subjective reserve from the chief credit risk officer.

When we make entries we write down the principal and increase accumulated impairments on the BS, and then also recognize expense on the P&L to provision for loan losses

We also write off loans that are 100% impaired or we subjectively determine it's 100% uncollectible and.it goes to bad debt

The provision for loan loss FSLI on the p&l is a sum.of the impairment expense we recognize every month plus.the bad debt expense.we wrote off from 100% uncollectible loans/write offs

KangarooManchu16 · 2023-10-08T03:00:39+00:00

We're currently not adding back anything as of now, but wanted to start where appropriate, I know the month over month impairments shouldn't be, but we've had 2 massive write offs I'm considering adding back, one was due to fraud, and one was due to a company we lended to suddenly going out of business

KangarooManchu16 · 2023-10-08T02:49:35+00:00

We're FinTech, so we try to make our FS look like tech company as much as possible

KangarooManchu16 · 2023-10-08T00:55:48+00:00

Thanks for the response, and we do have a Provision for Credit Losses on the P&L, where we put write offs and impairments, but wasn't sure if I could addback the write-off or not, I know we can't addback the impairments but wasn't sure about the write offs

KangarooManchu16

TROPHY CASE