[Shan]

Hi Every one,

Today I overheard a conflict in the office. The manager from budget team was yelling at a GL accountant because she didn’t accrue about 100K USD expense in November.

The manager said” I gave you my forecasting number for this event so you should use it for your accrual. This event happened in October”

The GL accountant insisted” But I don’t know if it happened in October. I don’t see any purchase order or company cards payment or any email information said it happened. How can I accrue”

The manager said ” I told you it happened in October! You should find out yourself! You no need invoice or PO for accrual!”

……

Personally, I agree with GL accountant since I don’t think an email with an forecasting number from budget team is sufficient for accrual journal entry, at least we need some supporting that showed this event has happened in Oct …But I am not so sure about my thought…

Any advice??? Thanks!

AUD-73, 73, 73, 79!!
BEC-77!
FAR-60, 83!
REG-66, 72, 75!

MA CPA license

[MarathonRunner1]

At this rate, I would not be surprised if this Budget Manager also reviews the bank recs, has custody of cash, and posts to the GL. .Oh, and one more thing…. this Budget Manager reviews the bank account activity for reasonableness.

AUD: 94 (Nov. 2013)
FAR: 76 (Oct. 2013)
BEC: 79 (Nov. 2012)
REG: 84 (Dec. 2013) It's Mile 26.2, and we finished. Blood, sweat and tears, passion, perseverance, and never giving up, we did it!

California Candidate

[Author]

Replies