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A lot of “fluff” jobs will take a hit after this
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Junior Prehistoric Grits wrote: »Did you just make up that rule. Do you speak for the accounting profession?
Integrity and confidentiality are two of the fundamental principles of the accounting profession, how can you not be aware of this?
Confidentiality
Members have an obligation to respect the confidentiality of information about client or employer’s affairs acquired in the course of professional work. The duty of confidentiality continues even after the end of the relationship between the member and the employer or client.
Accounting Technicians Ireland Code of Professional Ethics0 -
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Just thought I would hop in here. I am not an accountant, but in the sector (business development). Never thought I would see a scrap between industry and practice
who said accountants were boring ? :pac: thread should probably move to the accounting forum for a proper scrap. I think a discussion on jobs/professions that are likely to struggle in the coming months/years would be interesting. So ones that require human contact like beauty services etc. Or the OP could retitle the thread to "why me, as a practice accountant, is better than you 
" Just joking!Junior Prehistoric Grits wrote: »HR in general is fluff. I accept that some organisations need a hr dept to document numbers of staff, hiring, firing, timesheets, holidays but anytime things get heavy they bring in outside legal counsel and when it come to recruitment they sub contract it out to recruitment agencies (which is another thread) but for the most part HR is definitely fluff.
Bloggers and influencers have never made money to begin with so business as usual for them.
I wouldnt call HR fluff. Staff retention and bad hires can be very costly if gotten wrong. Especially in those multi nationals where a mistake can cost hundreds of thousands/millions as opposed to a couple of quid in a regular SME. Im talking production shutting down, decontaminating production lines, quality issues leading to legal cases etc. Not even going to go into staff resourcing for a mutli country project.Junior Prehistoric Grits wrote: »In my experience and in reality, most accountants in industry are not real accountants and cant read a P&L and Sheet and just bluff their way through the general ledger accounting roles that they work in.
If you knew how stupid your post was you wouldn’t have said it. Practice accountants are the most clued one because they understand the financials most and their technical ability is far superior than accountants in industry because they need to be aware of constant changes in tax legislation, companies act and accounting frameworks.
What a silly post you just made.
From my experience, practice is either for you or isnt. And i think its 70/30 industry/practice split. Practice accountants I would say are more at the coalface of the regs and compliance. But at the same time, someone in transfer pricing in a multi national could be more knowledgable on that particular area. I guess it all depends. Everyone has their specialities. There is room for everyone.
Similarly I have come across practice accountants that have made some serious mistakes. In particular one was not submitting VAT returns, and over paid them as was just copying and pasting. But thats why professional indemnity insurance is there I suppose.Junior Prehistoric Grits wrote: »We’ve been hearing this for years. What’s “screwed” is the basic compliance work like bookkeeping, payroll, Tax compliance. But that was always low value work that clients don’t want to pay for anyway. AI actually makes our job easier.
They said excel will replace accountants and computers will replace pilots... I dont think the accountant will be gone anytime soon. Not until the government recognises a piece of AI as a legal personDeleted User wrote: »You don't have to join CIPD to work in HR. It can be joined, if you take their exams or have a HR degree etc. and you can use their initials after your name.
At the risk of triggering the OP I got a HR degree a few years back.
There are professional accountants who are members of prescribed bodies like ACA, ACCA, CPA etc. But there is no legal protection on the term. So anyone can call themselves an accountant. I can even buy CPA letters by joining some obscure accounting institute in the middle east for a fee with no exams. Solicitor on the other hand, enjoy legal protection.Junior Prehistoric Grits wrote: »Death and taxes are two guarantees in life. Double entry accounting had been around for hundreds of years but yet balancing trial balances is something the vast majority of are people are unable to do it despite. We see it regularly where client comes in and says “I’ve done everything myself and all you need to do is sign off” at which stage we ask them
Is your bank account actually €200k overdrawn
Why do your customers have debit balances and does revenue really owe you €100k in PAYE? Then we get the litany of excuses about how they hired someone to do the books every second Wednesday and how they transferred this journal to this account because that seemed to make sense and the. we tell them that the whole thing needs to be done from scratch and will cost double the price.
Accounting web is literally full of people trying to “balance the books”
Id agree here. So much DIY software out there. messages like its easy to do your books yourself etc. The fact is, a lot of clients I deal with plod on with a years worth of bookkeeping but get fundamentals wrong. It is easy to make a mistake if its not your field. Some accounting packages for free like bullet dont stop you from making mistakes. They accept data and put it out. And it all needs to be done from scratch. I always say, focus on your business and pass the books to someone else. For your own sanity, free time, and saving money in the end etc.Cilldara_2000 wrote: »Not sure why there’s a row going on between industry and practice accountants. The real enemies are so called bookkeepers who have a vague idea how to work excel and some other accounting software but no actual knowledge of debits and credits or any sort of reconciliation. OTOH much work for accountants in cleaning up their mistakes, so long may it last.
I wouldnt tar them all with the same brush. but yes, there are some dubious characters out there... but like you said. More work for accountants.Junior Prehistoric Grits wrote: »These type of roles have grown exponentially in the last 8 years especially within multinational, pharma companies and very large organisations. They approach things from a high level point of view so rather than waste time and money in a growing economy they offer a higher salary than their competitors and the competition does likewise. It’s the opportunity cost of waiting months or losing a candidate over a €5k salary increase so they bump the offer by €10k. If there is an economic adjustment I think a lot of these type of fluffy jobs will take a hit.
In Dublin this is particularly true. But thats just supply and demand. I suspect that a particular job may not take a hit, but a blanket pay decrease across the entire organisation proportional to their income. You keep saying fluffy, that implies there is nothing to it.... I am speaking anecdotally here from my own network, people in these high salary roles often have a lot of experience and strong credentials.0 -
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