Posted by: LYF | March 5, 2009

Go to the source

You’ll get asked to do all sorts of things in your first year.  And  most of the time you won’t know what you’re doing, or how to follow through.  Don’t worry, because every answer in accounting usually comes from two places – the handbook or the tax act.  Yeah, it sucks looking things up in a handbook and most of the tax act is legal jibberish.  But unfortunately, that’s where the answers are.

You can definitely cheat, and use other resources like sedar, other files around the office, a quick google search or even wikipedia (I don’t recommend this).  Though If you choose this route, you’ll be doing yourself a disservice. If you took the time instead, to look for answers where they originate (income tax act, excise tax act, bankruptcy and insolvency act, mining act, CICA handbook, EIC’s, accounting guideliens etc.) followed by citing them in your response, you’ll show the “higher-ups” that you have initiative.  And consequently, your recommendations/answers/research will project a higher level of professionalism, which can only boost your credibility.

Edit: This guy is right.  Krupo is dominating the accounting interwebz like it’s his job.  Is your busy season done already???

And in other news, I just bought this off ebay.  I’m going to have the most balln’ $100 ikea desk ever (not as pimp as this though).

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Responses

  1. Short answer: yes, yes it is. ;)

    Ironically Chris made that observation precisely a year ago.

    Watch me disappear off the radar again when my next big client job ramps up (soon). That, and the release of Empire: Total War…. ;)

  2. In work-related discussion topics, google can be a great friend depending on the type of information you’re looking for. Definitions of industry acronyms? Potentially awesome (but take care not to look foolish – you have to know enough to say, “yes, that’s right).

    It’s better at refreshing your memory than teaching you new things oftentimes.

  3. IMHO most people don’t expect first year’s to know too much so ANY initiative you show is going to reflect well…but yeah Google is great!

    btw, thx for the comment, but I think you meant “awesome” use of the word awesome

  4. Krupo….how do you find the time?

  5. Whoa, Chris, good to see you posting again!

    To answer your question, after 20 hour days like today, even I don’t know sometimes… :)

    Oh right… training myself to function without sleep by working as a student journalist back in university was key.

  6. Krupo – yeah, definitely didn’t see that was from 2008…”nominally competent”

    But 20 hours? Are you serious? When I hit 12 I have to call it a day.

    Studyingisfun – yeah, you’re right haha, I actually did mean to say “awesome”

    I know this is somewhat random, but does anyone else have a tough time understanding investment statements? Do people make them confusing on purpose? Nothing ties in.

  7. No worries – you drew Chris out of hibernation – a big win as far as I’m concerned! :)

    n.b. My recent comment was correct, but note I didn’t say “20 hour work days” which you may have been thinking.

    It was just one of those “20 hour days”… after work, the day continued with a trip to Niagara Falls (friend’s bach-party) followed by a rock show at the Horseshoe Tavern – Sebastian Grainger and the Mountain came on stage shortly after midnight.

    And a bit of Empire: Total War before calling it a night.

    Good times.

    Also – your suspicion that investment statements are confusing on purpose IS CORRECT. Read Smoke and Mirrors by David Trahair (CA) for his theory – basically they don’t want their clients to realize how badly their investments are doing. Seriously!


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