Comments on: Does every accounting job carry a significant risk? http://midjobs.com/blog/does-every-accounting-job-carry-a-significant-risk/ MidJobs.com Wed, 01 Feb 2012 11:51:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: DK http://midjobs.com/blog/does-every-accounting-job-carry-a-significant-risk/comment-page-1/#comment-111 DK Tue, 27 Oct 2009 04:57:51 +0000 http://midjobs.com/blog/does-every-accounting-job-carry-a-significant-risk/#comment-111 I think your teacher is directing the fear in the wrong direction. If management directs their staff to account for a transaction a certain way, then management is on the hook, not the accounting clerk. Also, if you discover that you are not accounting for something the right way, and if your supervisor insists that you keep doing it the wrong way...then you are off the hook. You should report the irregularity through your company's whistle-blowing policy, but be prepared to state clearly why you believe the accounting is incorrect. A word of caution...be sure that you obtain sufficient knowledge to make a judgment like this. For example, beginner-level accountants may not realize some of the rules related to revenue recognition, depreciation, bond premium/discount amortization, accounting for intangible assets and so on. Don't accuse your company of violating GAAP unless you're sure. I think your teacher is directing the fear in the wrong direction. If management directs their staff to account for a transaction a certain way, then management is on the hook, not the accounting clerk.

Also, if you discover that you are not accounting for something the right way, and if your supervisor insists that you keep doing it the wrong way…then you are off the hook. You should report the irregularity through your company’s whistle-blowing policy, but be prepared to state clearly why you believe the accounting is incorrect.

A word of caution…be sure that you obtain sufficient knowledge to make a judgment like this. For example, beginner-level accountants may not realize some of the rules related to revenue recognition, depreciation, bond premium/discount amortization, accounting for intangible assets and so on. Don’t accuse your company of violating GAAP unless you’re sure.

]]> By: Donnao http://midjobs.com/blog/does-every-accounting-job-carry-a-significant-risk/comment-page-1/#comment-110 Donnao Mon, 26 Oct 2009 22:18:50 +0000 http://midjobs.com/blog/does-every-accounting-job-carry-a-significant-risk/#comment-110 If you do your job right, you shouldn't fear. As soon as you do something bad you will know it inside. Also, If your boss tells you to do something you feel is wrong don't do it. If you do your job right, you shouldn’t fear. As soon as you do something bad you will know it inside. Also, If your boss tells you to do something you feel is wrong don’t do it.

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