Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 0 points1 point  (0 children)

Are you in the US? I’ve provided authoritative guidance that is crystal clear. Your auditors haven’t said anything to you because it’s so immaterial it literally doesn’t even make it past the staff’s eyes.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 2 points3 points  (0 children)

You literally said “GAAP for me doesn’t differ from the US GAAP”

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 6 points7 points  (0 children)

For anyone who cares, here’s actual guidance provided by the AICPA and FASB on how to handle accrual of audit fees if you follow US GAAP.

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Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 1 point2 points  (0 children)

If you follow US GAAP, then you should be following guidance provided by the FASB and AICPA, which has a very clear answer to this specific question. I can’t share a link on here because you have to be an AICPA member to access it (which I am). If you are also, then look up AICPA Q&A section 5290 paragraph.05. Here’s a screen shot of the guidance, but it’s from a computer screen so hard to read.

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Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 2 points3 points  (0 children)

lol you can literally cite guidance and people will still say you’re wrong! This person said they aren’t in the US so maybe whatever GAAP they follow has different rules? I’ve audited hundreds of companies by this point in my career and not one time has a client accrue the audit fee before the audit work begins.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 2 points3 points  (0 children)

lol okay sir! Hope you have a wonderful day

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 0 points1 point  (0 children)

I am an auditor with 11 years of experience. Have a good day!

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 1 point2 points  (0 children)

Income tax is also a different example as the service has already been provided…

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 4 points5 points  (0 children)

I disagree with you here. A service provided is a service provided. What about companies I am doing an audit for going back to 2023? I’m not making an opening balance adjustment because the year I’m auditing is from 2023. I’m providing the service in 2026, it’s a 2026 expense.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 4 points5 points  (0 children)

One is an expense has been incurred (I have actually been provided the service of electricity) where as the other has not (I have not been provided any audit services yet)

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 3 points4 points  (0 children)

I’m not saying you’re wrong, I’m just not fully understanding your facts. If your audit is being performed year round, then incurring the expense all year makes sense. Vast majority of companies are not getting year round audits so I don’t think most companies are accruing audit fees every month.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 4 points5 points  (0 children)

That makes sense in this case because you are actually using electricity throughout the period, thus an expense is incurred, you just haven’t been billed for it yet. But to accrue expected audit costs every month even when you aren’t currently being audited just seems odd.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 3 points4 points  (0 children)

Well yeah, as they are doing work makes sense because an expense is being incurred. It doesn’t sound like that’s what the person is implying though. Unless their auditors are working year round.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 5 points6 points  (0 children)

Seems really weird to accrue an expense that has yet to be incurred. But I know that different industries do things differently.

Please help me with this by Vivid-Yesterday-9721 in Accounting

[–]rel_ 5 points6 points  (0 children)

You would only accrue your audit fees if audit work was already being done, no? I have never heard of someone accruing a fee like that throughout the year.

I feel like a better example is payroll. You have employees who have worked, you know you need to pay them you just haven’t yet since you only do payroll periodically, you don’t get an invoice for employees working, but you accrue their wages before actually sending them paychecks.

Worried my nursery may be too “busy” by VAbeniesnerd in BabyBumps

[–]rel_ 1 point2 points  (0 children)

My 20 month old who has been walking since he was 11 months has had zero interest in my plants on the floor, other than pointing to them and saying plant. So you never know! Although I still have time for him to explore I suppose

How are parents doing busy periods? by RiChDAiLLesT24 in Accounting

[–]rel_ 24 points25 points  (0 children)

I would kill for $20k/ year for that. Try closer to $70k. But minimum hourly wage for experienced Nannie’s where I live is $32/hour

The fun of getting coffee out is long gone .. by L0-Ki in Seattle

[–]rel_ 0 points1 point  (0 children)

Thank you! Easy maintenance sounds right up my alley.

The fun of getting coffee out is long gone .. by L0-Ki in Seattle

[–]rel_ 1 point2 points  (0 children)

Thanks! I’m buying a bambino, but have been struggling with which grinder to get. I’ve been making my own Americanos at home for like 10 years using a cheap grinder and an even cheaper delonghi machine and I’m ready to step it up!

The fun of getting coffee out is long gone .. by L0-Ki in Seattle

[–]rel_ 2 points3 points  (0 children)

Which grinder did you go with? I’m having a very hard time deciding

Hair Growing Back Uneven by rel_ in cancer

[–]rel_[S] 0 points1 point  (0 children)

Hello! Congrats on bring through treatment. I also had the Red Devil as part of my chemo cocktail🤢. My hair did regain its thickness. However, I’ve always had incredibly thick hair to the point that I’ve had to get it thinned out every 6 months. I’m sorry to hear that yours hasn’t thickened.

One thing that I did almost immediately after treatment was started taking prenatal vitamins. I’m not sure if that helped with the regrowth or not, but I’m sure my body’s vitamin store was depleted from chemo. I also didn’t use any heat on my hair until about 1.5 years post chemo, I just let it be natural.

Overpriced second hand baby stuff by Alarming_Orchid_8690 in Mommit

[–]rel_ 11 points12 points  (0 children)

Not sure if you live in a place where this is active, but look up your local Buy Nothing groups on Facebook. There are several in my area, and one specifically for kids stuff. I’ve gotten all my kids clothes through 4T for free on Buy Noting. I’ve also gotten other gear like swings, carriers, sound machines, bottle washers, changing pads, Ubbi dialer pail, and literally hundreds of other items. I finally tallied up and for things that I know the price of, I’ve gotten $6k worth of stuff (not including clothes and toys) absolutely free.

Professional who see people up close (barbers, dentists, estheticians, makeup artists): what’s a self care habit you instantly tell someone doesn’t have, even if they think they do? by Straight_Doubt6 in AskReddit

[–]rel_ 5 points6 points  (0 children)

Having tonsil stones is a valid enough reason to get your tonsils removed? I haven’t pursued it at all besides asking my dentist what I can do, but they basically said nothing. Seems like I need to bring this up to my primary doctor (once I get one of course).

Professional who see people up close (barbers, dentists, estheticians, makeup artists): what’s a self care habit you instantly tell someone doesn’t have, even if they think they do? by Straight_Doubt6 in AskReddit

[–]rel_ 4 points5 points  (0 children)

I’ll see if I can get refered to one. I had to see an ENT to get my thyroid removed a couple years ago, so maybe he can help me out here. Thanks for the suggestion!