Why is accounting so needlessly complicated?

viagrandad
viagrandad

Why is accounting so needlessly complicated?

All urls found in this thread:
http://www.wsj.com/articles/president-signs-bill-to-give-tax-break-to-some-olympic-medal-winners-1475876742
http://www.forbes.com/sites/realspin/2013/12/18/mortgage-interest-deduction-saves-middle-class-taxpayers-all-of-51month/#77e6cad63a54
Snarelure
Snarelure

@viagrandad
room for jewish tricks desu.

FastChef
FastChef

All those boring ass careers like STEM/anything with maths are for high IQ autists. If you managed to go throught that hell while not getting laid with Stacies it guarantees that you are a submissive high IQ introvert autist that will do as told and wagecuck for hours.

Inmate
Inmate

@FastChef
But isn't it pretty much the first step to becoming wealthy? Along with starting your own business? Accountants understand money and that is the key to making more of it.

GoogleCat
GoogleCat

@Inmate
Pretty sure all those good looking instagram kids making 4 figures per post aren't accountants.

Playboyize
Playboyize

@Inmate
Do you really understand how to make more of it or just how to manage what you already have?

Methnerd
Methnerd

@Inmate
You mean finance degree not accountants.

BlogWobbles
BlogWobbles

@viagrandad
Local GAAP is complicated because financial accounting and tax accounting are often tied together (US is an exception).

Accounting in general is so swayed by special interests that want to make sure their industry can make themselves look good on paper so that 1) management can get their bonuses 2) to make sure they can get credit from banks.

That said, I have a Master's in Finance and I don't think accounting is too complicated. You seldom need to know very fine details like the exact rules on how many % of a car you can depreciate per year in Sweden for example.

StrangeWizard
StrangeWizard

@viagrandad
So there's a chance you launder your dirty money until you get comfy and the pigs find out

New_Cliche
New_Cliche

It's a never ending game of cat and mouse between the government and tax payers

Nojokur
Nojokur

@viagrandad
Why is accounting so needlessly complicated?

STEM here, btw.

iluvmen
iluvmen

@viagrandad
It's not needlessly complicated. It's exactly as complicated as it needs to be unless you're trying to commit fraud or something. That's actually one of the biggest indicators of fraud happening: finances that are needlessly complex.

askme
askme

@viagrandad
A handful of jackasses committed financial fraud and ruined things for everyone else.

Methshot
Methshot

@askme
this

tons of people got filthy rich with the derivative gambling boom prior to 2008
we've all seen the big short, but everything I read and watch seems to be concording with the movie. I wish I could have gotten aboard the free money train

Emberburn
Emberburn

@Methshot
Everyone older had all the opportunities you didn't have
The ruined economy is the fault of the prior generation
You're a helpless victim of your circumstances
Maybe you should occupy Wallstreet and demand reparations and free college

Evilember
Evilember

Because taxes are needlessly complicated.

VisualMaster
VisualMaster

Because learning accounting is like learning a new language but you also have to be a numbers autist

There's also tons of new regulations and principles you have to learn all the time to stop companies and people from destroying the economy. Also with the emergence of new industries like the massive new digital subscription industry now they have to completely rewrite old principles so that companies properly report income so the government gets that tax money.

Fuzzy_Logic
Fuzzy_Logic

@Emberburn
what ? I dont care about all that bs
If I could get a job at a BB bank or an insuranc company I'll sign within 15 minutes

people have different views on the subject but I would for sure sell my soul for a few years to make big bucks

Stark_Naked
Stark_Naked

Tax codes are developed by politicians pandering to voting blocs by adding one special interest rule after another.

No one has any incentive to ever go back to cull those rules, so they just pile up over time.

Voters would rather argue about asinine shit that's easy to understand than deal with an actual problem like that's hard to understand.

See:

http://www.wsj.com/articles/president-signs-bill-to-give-tax-break-to-some-olympic-medal-winners-1475876742
http://www.forbes.com/sites/realspin/2013/12/18/mortgage-interest-deduction-saves-middle-class-taxpayers-all-of-51month/#77e6cad63a54

BunnyJinx
BunnyJinx

@Evilember
@Stark_Naked

It's not just taxes though (although taxes are definitely unnecessarily complicated, at least in the US).

I'm talking about GAAP and the FASB codification and how it pertains to financial reporting. A lot of the rules are just complicated for complication's sake. (example: AOCI, accounting for pensions, consolidations and intercompany debt, new codification for leases, etc.)

ZeroReborn
ZeroReborn

Financial accounting is easy even though I don't understand half of it.

Tax is hard but it makes sense.

Auditing is a joke, at least in the Uni courses I took.

Cost accounting is fucking my life up.

whereismyname
whereismyname

@viagrandad
It's not complicated.

Supergrass
Supergrass

@viagrandad
Because Of The Need To Ascribe A Cost To Virtually Everything We Do In Order To Better Fuck The Average Man Over In Unnecessary Expenses.

Evil_kitten
Evil_kitten

@Inmate
Accountants are supposed to make sure that the financial standing of a company gives a correct picture to the users (i.e. not too positive and not too negative), that means following laws and applying principles yadda yadda yadda. It's not in and of itself how to generate money or to become rich, though accountants usually know a lot how a business operates and have to get knowledge about the business they audit/do the books for in order to fully understand the numbers

5mileys
5mileys

in one word "Corporation".

Think about it, Why did You become an accountant?

Why are You driving a 2000$ car paying high taxes? while the Nigger drives a brand new car?

idontknow
idontknow

@viagrandad
It's not user, it's actually quite logical and organized.

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