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mira77

Liverpool

Member Since 2010

Followers 201 Following 285

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Friday Apr 13, 2012

Apr 13, 2012
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So, my whole world at this time of year becomes accounting. It's financial year end and for the next 2 months I get to stress over accruals and prepayments and what the hell should go to one place and not the other before the auditors come in for 2 weeks to tear me apart. Add to all that the great new accounting rule brought in for our sector called component accounting. I work in a company that owns a number of properties. Whereas before we installed improvements such as kitchens and bathrooms we therefore depreciated these two assets. Now we're being told that one of our properties technically has 6 components to it....windows, doors, kitchen, bathroom, boiler, structure. So, we have to treat all these as assets and depreciate them as such.

Essentially what this means is I have to work out a way to dispose of the assets the company has since 2005 as well as the depreciation and then add the new component assets, considering we have 12,500 properties, all with 6 assets each frown And at the same time keep the profit and loss and balance sheet happy!

Spent all of today with a consultant from the accounting software company we use and we came up with some good ideas to work it out but my boss kept on finding problems with every solution. I think it may be a very long 2 months to try get some solution going. Put it this way, financial year end was the 31st of March. We reckon it'll be September by the time we have a working solution! Christ, I'm actually having dreams about it now. I have restless nights thinking about it because my mind refuses to let me sleep fully while trying to solve a problem and my dream is the problem of trying to get this to work!

Should of just put on my Y-Fronts and had a career as a male stripper biggrin

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