GAAP-less

I have survived another year end close! We are not completely done, but the ledger is closed. Now the analysis lies ahead of us, but at least that I can handle. I’m not so keen on the adrenaline rush that is close.

Some interesting observations about creating financials in a company that doesn’t comply with GAAP:

(1) Direct write offs are ok.
(2) There is only one accrual account for the entire division. (And yes, it miraculously gets reconciled.)
(3) When you get credits back that your budget groups don’t know about, don’t tell them, so the CFO can drop the monies to the bottom line if they need them later. Or, your team can use the money later to buy IPODs for everyone.
(4) If the reserve gets too high, move some of it to prepaid.
(5) If it doesn’t match the budget, just accrue.
(6) Back-up is for suckers and auditors.

I am most excited to have my life back. I already have a plan for tomorrow:

9:00 Wake up
9:30 – 10:30 Gym
10:30 – 12:30 Library/ Grocery/ Errands
12:30 – 7:00 FREE TIME – clean, write, watch DEVDAS
7:00 – 2:00 Out on the town

I am SUCH a planner.