Wednesday, May 21, 2014

There's No Accounting for Taste

Though I took Principles of Accounting as a subject back in high school - unfortunately a stated requirement in my class, I never was very good at it.

Even plain old Mathematics still puzzled me mightily so you can imagine what I thought of Accounting. Far from providing inspiration for the students, having a lackadaisical, barely articulate teacher at the helm didn't help much. Half the time I didn't even know exactly which mysterious ledger to use - and when I actually got that partly right, my hastily added-up accounts never actually balanced correctly leaving me with the dreaded suspense accounts galore.

Which is far less exciting than what it sounds like. Basically a suspense account stands for an account used temporarily to carry doubtful receipts or discrepancies pending their analysis and permanent classification. Let's just say having far too many suspense accounts didn't actually bode well for my accounting future.

Gosh, how do accountants deal with these numbers everyday without falling asleep?

Unfortunately something that haunts me till today when I try to get my books balanced. Unlike some of my more zealously organized friends who carry check balances everywhere they go, I find it almost impossible to keep track of every little expenditure made on a daily basis. Painstakingly hunting down each itemized receipt received just to keep the monthly accounts nicely balanced can really drive me up the wall. Imagine searching high and low for irrefutable proof that you actually spent that measly 25 cents on miscellaneous objects.

Friend : Something's missing!
Paul : You want me to help look for it? 
Friend : There's ten dollars missing!
Paul : You left it in the car? You dropped it? 
Friend : No, I spent it!
Paul : Then it isn't missing!
Friend : But I can't find the receipt! What did I spend it on? Now my income and expenditure account doesn't balance!
Paul : OMG.

Frankly I'm just happy not running deep into the red.

Not exactly the right attitude when you have a private limited company to take care of. Alas my horrific bookkeeping skills probably keeps the bewildered accountant awake all night. Doesn't poor Moneypenny understand that I simply can't punctiliously file all my receipts and bills in an orderly, judicious manner? Stuffing them all into a shoebox is about the best I can do. If I really could have been that methodical and thorough, I would have easily topped the class in Accounting.

Dammit, maybe I should have paid more attention to my brother's weekly financial lectures.

1 comment:

Tempus said...

Omg don't start. Can you imagine yourself as the only science based human in the family, in the extended family from both paternal and maternal side?

Everyone had basic business fundamentals in tertiary education; and you are the only science dude lying around explaining to the family how important colustrum is to the upcoming baby.

I'm not as tedious as your friend, but probably because I have yet to start spending on my own income XD