August 21, 2018

Accounting News Roundup: Taxes, *Very* Different Career Paths, and Lewd Behavior | 08.11.17

accounting news taxes trump career paths

Taxes

Consummate bullshit artist and current POTUS Donald J. Trump repeated one of his favorite falsehoods yesterday, saying, “We pay more tax than anybody in the world.” Although this has been discredited by countless economists and tax experts, they made the rounds again including this exasperated guy from the Tax Foundation:

“Two years later, and I’m still answering this one,” the Tax Foundation’s Director of Federal Budgets Kyle Pomerleau, told NBC News. “The answer is still the same: No, the United States is not the highest-taxed nation in the world.”

“We are nowhere close to the top,” says another guy.

Career paths

Doug McHoney is an international tax partner at PwC who’s been producing video blogs on various topics for the better part of a year. His insane global travel schedule serves as a backdrop for the videos and the hijinks that come along with it.

He discusses career paths in the most recent video, including his own to become a tax partner at PwC. To contrast, he also interviewed me, a person who is decidedly not a tax partner of any measure, about my career path that started in accounting and veered into online media and journalism.

If that’s not enough for you, and you have an hour to kill, Doug published our entire discussion online that will include me talking about my all cringe-worthy moments along the way. Fair warning: there is some jam band talk in the uncut video.

Accountants behaving badly

This New York Post article describes a lawsuit that alleges all kinds of outrageous behavior at American Funding Group, a “debt relief company,” including strippers, blow-up dolls in interviews, quid pro quo sex, and all-around “sexual harassment playground.” That includes this particular anecdote:

The lawsuit also described the time a female employee, encouraged by male managers, lifted her skirt and pressed her bare butt against a glass conference room window for the entire office to see.

Instead of reprimanding or disciplining the employee for the bizarre office strip show, accounts receivable manager Michael Marino gleefully threw himself against the other side of the glass and began “air humping” the worker, proudly exclaiming, “How else could I respond to that?!,” the lawsuit said.

Any number of ways, I imagine, given the (alleged) acceptable behavior at this place.

Previously, on Going Concern…

I offered a solution for landing and keeping accounting talent: better pay.

In other news:

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Accounting News Roundup | 01.21.10

How to find the “best and brightest” [CPA Success]
This may be a better topic for the friendly HR professional but figuring out who these future accounting rock stars are before they show up on their first day is “more art than science”, as Tom Hood notes.
Popular to some old-school thought, GPA does not always indicate who’s going to dominate in the real world and “soft skills” — besides being a terrible term — are in more demand than ever.
Help The The American Red Cross of Greater Chicago Help Haiti [Re: The Auditors]
The American Red Cross of Greater Chicago is having a drive today and since Francine’s friend is the CFO, we’ll be glad pass around the news:

One of my oldest and dearest friends, Guillermo Becerra, is the CFO of the American Red Cross of Greater Chicago. I asked him how I could help him, and the Red Cross, during what must be an incredibly busy time post-Haiti earthquake.


“The Chicagoland community will come together on Thursday, January 21 to give to the American Red Cross as we help the people of Haiti recover from the catastrophic earthquake that devastated their country last week.
The Chicago Helps Haiti media relief drive begins at 5 a.m. and lasts until 11 p.m. Nearly every TV and radio station in our area will be promoting this fundraising effort throughout the day. You can help too, by giving via phone or online, and sharing your thoughts here, on Facebook or Twitter, and by asking others to give.
To give from 5 a.m. to 11 p.m. CALL 1 (877) 565-5000 or visit www.chicagoredcross.org/haiti

Plus, we’re guessing that if you give, your 2009 tax return isn’t much of a concern.
If Your Password Is 123456, Just Make It HackMe [NYT]
The Times is concerned that you have a shitty password which puts you at a huge risk of being hacked by someone sitting in their parents’ basement.

Imperva found that nearly 1 percent of the 32 million people it studied had used “123456” as a password. The second-most-popular password was “12345.” Others in the top 20 included “qwerty,” “abc123” and “princess.”

You know who you are, ye with stupid passwords. Also, don’t even think of changing it to “654321” because that drops in at #19.

Accounting News Roundup: Haiti Relief Passes Senate; Accounting Job Surge? CPAs Basically Control People’s Lives | 01.22.10

Senate votes for faster tax breaks for Haiti gifts [WaPo]
As expected, the U.S. Senate unanimously passed legislation yesterday that allows taxpayers to deduct donations made for Haiti relief efforts. You have until the end of February to donate so that it may be included on your 2009 return.

Maybe it’s bad legislation but we’ve been over that.

CPA Jobs Set for Surge. But When? [CPA Trendlines]
That’s the question, isn’t it? Rick Telberg, who has done a great job of tracking the Bureau of Labor Statistics on accountants, points out that while the latest BLS forecasts a 22% increase (279,400 jobs) by 2018, there’s no indication that it’s happening now:

[M]any tax, accounting and finance professionals are still slogging through the Great Recession. The Association for Financial Professionals, for instance, reported that about one in four respondents say their organizations will contract in 2010. At the same time, a PricewaterhouseCoopers survey of private companies found 43 percent of CEOs and CFOs still budgeting no expansion over the next 12 months to 18 months. The data just seem to reinforce economic uncertainties and a weak outlook.


The BLS is looking past the past the recession for the jump in opportunities but just when the hell will that be? Just because the economy isn’t contracting currently, doesn’t mean it won’t in the future and this “recovery” has been tepid at best.

Theismann to CPAs: You Are the Conscience of America [Web CPA]
Joe Theismann gets it. He knows that without all of you out there in CPA land, your clients don’t stand a chance. They’d be finished. Finished!

“You’re the conscience of America,” Theismann told conference-goers. “You are the survivors in tough times. With accountants, I’m not looking for someone to file taxes and do my financials. I can do that myself online. In your position you can basically control people’s lives.”

So get out there and control somebody’s life. Joe Theismann is expecting it.