Reflections on week 4
Miranda Oliverius
This week brought the continuation of some previous projects, as well as a couple new ones. Throughout the entire week Ellen and I continued to work on the trial balances for the ‘main’ client from last week. I finally conquered most of the taking-three-centuries-to-load Excel problems that I had encountered last week. Instead of using the “Insert TB Link” button and subsequent window for every single link in the financial statements, I started only using “Insert TB Link” on the first cell of each table. Then, I copied the formula and made the necessary adjustments to each cell regarding the account number or trial balance name. This expedited the process, and soon Ellen and I had fallen into a good system where she would create the trial balances and account groupings, and I would enter and format the links into the financial statement tables.
Next I did a couple smaller projects for a second client. This included comparing the bank reconciliation values from Quickbooks with the respective trial balance values in Engagement. Then, I worked with Ellen to download and electronically file some accounts receivable and payable aging details.
One afternoon, Jonath sat down with Ellen and I and told us about his work. This was probably one of my favorite parts of the week. As he talked about his work with bookkeeping and taxes, it was easier to see how those areas of accounting are heavily relationship based. Clearly I was misinformed, but I hadn’t realized how those areas of accounting developed relationships over time as opposed to just being a once-a-year spring visit.
Later in the week- taking a small break from trial balances and Excel- I had the opportunity to work on writing a tax analysis/opinion letter regarding the sale of a corporation. I don’t think it was supposed to be one of the challenging projects, but it has definitely stretched me. A phone call to David to clarify some questions helped, as did talking to Jonath. In addition, through some research online, I learned a lot about both the sale of goodwill and depreciation recapture. I still have some questions, especially one where I got three different answers. However, I look forward to more discussion and research next week.
Another fun experience was going on a small field trip with James out to one of our next audit clients. I got to meet a few of the people working there, to tour the building, and to listen to James’ excitement over the new software and laptop that they’re getting. Rave reviews, I tell you; the joy was palpable.
Next I did a couple smaller projects for a second client. This included comparing the bank reconciliation values from Quickbooks with the respective trial balance values in Engagement. Then, I worked with Ellen to download and electronically file some accounts receivable and payable aging details.
One afternoon, Jonath sat down with Ellen and I and told us about his work. This was probably one of my favorite parts of the week. As he talked about his work with bookkeeping and taxes, it was easier to see how those areas of accounting are heavily relationship based. Clearly I was misinformed, but I hadn’t realized how those areas of accounting developed relationships over time as opposed to just being a once-a-year spring visit.
Later in the week- taking a small break from trial balances and Excel- I had the opportunity to work on writing a tax analysis/opinion letter regarding the sale of a corporation. I don’t think it was supposed to be one of the challenging projects, but it has definitely stretched me. A phone call to David to clarify some questions helped, as did talking to Jonath. In addition, through some research online, I learned a lot about both the sale of goodwill and depreciation recapture. I still have some questions, especially one where I got three different answers. However, I look forward to more discussion and research next week.
Another fun experience was going on a small field trip with James out to one of our next audit clients. I got to meet a few of the people working there, to tour the building, and to listen to James’ excitement over the new software and laptop that they’re getting. Rave reviews, I tell you; the joy was palpable.
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