Accounting Talk » Accountants » If it doesn't make sense, don't believe it
If it doesn't make sense, don't believe it
Question:
Sounds like good advice.
Response:
Making sense is relative to one’s experience. The theory of relativity doesn’t make sense to me, but I still believe it! Accounting doesn’t make sense to a lot of non accountants (and probably some accountants as well), but we believe it.
— Ken Russell Sydney
| Sounds like good advice. | |
Response:
Making sense is relative to one’s experience. The theory of relativity doesn’t make sense to me, but I still believe it! Accounting doesn’t make sense to a lot of non accountants (and probably some accountants as well), but we believe it.
Among accountants we have a saying here: "Believe only the books you have cooked yourself." = professional skepticism
A. Lucien Meyers, CIA, CMA — If you receive this by error, please delete it and inform the sender. PGP Key fingerprint=F1C0 D9AE 1B18 1405 4DFA B4CC 6DC7 FF78 C76E FB15 To Big Brother Echelon from "spook": Uzi PLO KGB [Hello to all my fans in domestic surveillance] Serbian BATF
Response:
Very good, I like it! — Ken Russell Sydney
| | Making sense is relative to one’s experience. The theory of relativity | doesn’t make sense to me, but I still believe it! Accounting doesn’t make | sense to a lot of non accountants (and probably some accountants as well), | but we believe it.
| | Among accountants we have a saying here: "Believe only the books you | have cooked yourself." = professional skepticism
| | A. Lucien Meyers, CIA, CMA | — | If you receive this by error, please delete it and inform the sender. | PGP Key fingerprint=F1C0 D9AE 1B18 1405 4DFA B4CC 6DC7 FF78 C76E FB15 | To Big Brother Echelon from "spook": | Uzi PLO KGB [Hello to all my fans in domestic surveillance] Serbian BATF
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Accounting Talk » Accounting » stuck
stuck
Question:
Thanks again folks, I will try to keep to the middle of my points range. I really feel like I need to get my focus back. When i feel like things arent happening fast enough, I have a habit of sabotaging things further by getting frustrated and giving up. Im fighting that feeling today. Today, I got on the scale and it was a 1/2 lb up. I guess i need to go and read the first couple of weeks of my journal and repeat those weeks (i did really well then) – in terms of what I eat so that I can get back to the right number of points to help me lose. Thanks for all your comments and help.
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
That’s a very good idea about using your old journals. I must keep that in mind. Elaine K – Hide quoted text — Show quoted text – Thanks again folks, I will try to keep to the middle of my points range. I really feel like I need to get my focus back. When i feel like things arent happening fast enough, I have a habit of sabotaging things further by getting frustrated and giving up. Im fighting that feeling today. Today, I got on the scale and it was a 1/2 lb up. I guess i need to go and read the first couple of weeks of my journal and repeat those weeks (i did really well then) – in terms of what I eat so that I can get back to the right number of points to help me lose. Thanks for all your comments and help. Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
I do that too krys, and I like it. It really gives you freedom. I can exist on a 12 point day if I have to …. and sometimes I *DO* have to after having a 35 point day!! lol! As long as my total for the week is on target, I let myself veer too and fro within that, and I am quite sure it does not hinder my loss. Well, weigh-in tomorrow (what did someone call it? WD or WID? or just WI?) hmm anyway, then I will find what the verdict is. It is such FUN getting weighed there! I get quite worked up about it! lol! brenda – Hide quoted text — Show quoted text – Hi there, I find it helps if I vary how many points I eat – I have more and less days. My version of the "Wendy" plan, which I’m sure someone will be along to explain to you.
Response:
Oops, didn’t see Roxan’s post saying the same thing as what I just posted.
Sorry, I hate it when that happens to me! So there you go – two people agree that eating less will not do you any good! LOL Eat your points, girl.
-Petal
– Hide quoted text — Show quoted text – Are you eating all your points? If not start, some times you will not lose until you are eating at the level you need for your current weight. Roxan
Response:
Hi there, I find it helps if I vary how many points I eat – I have more and less days. My version of the "Wendy" plan, which I’m sure someone will be along to explain to you. Try drinking more water. Or varying the balance of what you eat – more protein, less carbs – that kinds of thing. And be patient…..good things come to those who wait – and a plateau is better than a gain
— krys UK 157/121.5/126 Started March 1st 2001 GOAL August 16th 2001 http://community.webshots.com/user/krystrot
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
Please don’t try eating less points on a regular basis – that WON’T help you lose weight. You have a range for a reason – if you stick within your range, you’ll be fine. If you say that you’re "barely making the limit", that’s not overdoing it. The less you eat, the more your body’s metabolism slows down. It’s completely counterproductive and will not break a stall (although I still maintain that one week isn’t a stall and you should just give it some time). If you really want to play around with your points range, try eating at the upper end one day, lower end the next, etc. Some people find that varying their points like this helps kick start their metabolism again. Don’t try to look for a quick fix – you need a bit of patience if you want to keep the weight off in the long term. As I mentioned before, the weight will come off at various rates and sometimes not at all. Don’t panic; it’s normal.
-Petal
– Hide quoted text — Show quoted text – Thanks so much for all your advice. I think Im going to focus more carefully on the portion sizes and anything that I’ve slipped with lately. It’s really difficult for me to get more than 2 qts of water down per day…but if you all say it works for you…I’ll try to drink a little bit more. I end up drinking most of my water at home in the evenings because of my work environment…it’ll be some sleepless nights if I try to drink a bunch more. <laughing. Im also going to try to eat lower on the points range. I’ve been eating on the high end (barely making the limit every day), so if I try to eat at the lower end, perhaps it will make a difference. Thanks again for being here!
Response:
Thanks so much for all your advice. I think Im going to focus more carefully on the portion sizes and anything that I’ve slipped with lately. It’s really difficult for me to get more than 2 qts of water down per day…but if you all say it works for you…I’ll try to drink a little bit more. I end up drinking most of my water at home in the evenings because of my work environment…it’ll be some sleepless nights if I try to drink a bunch more. <laughing. Im also going to try to eat lower on the points range. I’ve been eating on the high end (barely making the limit every day), so if I try to eat at the lower end, perhaps it will make a difference. Thanks again for being here!
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
I can’t say much except that this is the first week I have lost in one month. It was really beginning to stress me out – so I began measuring portions carefully, walking more, drinking more water and also relaxing! It will come off and worrying about it just makes it worse. Be proud you lost what you did and know that it takes willpower and determination to even make it that far which a lot more than a lot of people can/will do. — Robin Portland, OR 167/154/135
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
Are you eating all your points? If not start, some times you will not lose until you are eating at the level you need for your current weight. Roxan
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
Welcome to the group
)) If you click on the link below you’ll access ASDWW’s helpful tips and FAQs — Val – take one away to email http://www.geocities.com/welcomenotice/index.html
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
If possible go to WW meetings. It could make the difference. If you can go to kick boxing class you could just as easy go to a meeting. It sounds like you need to be accountable. Nothing wrong with that. That is what helped me to lose so much weight last year. I need to go to weigh in and hear the good tips the other members and leaders had to offer. Try it!!! That might just do it for you.
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
Yep, patience. Your weight loss will vary because of a million different reasons, and two nights of kick boxing isn’t necessarily going to start having an effect on your weight just yet. You didn’t mention how much you have to lose, and that does make a difference to how you lose weight. You’ve lost 14 lbs. already and only in the past couple of months, which is fab! How much more to you want to lose? If it’s in the 10-15 lb. range, it may come off slower than the first lot. <broken record mode Use other means to measure yourself apart from a scale, particularly if you’ve just started exercising. You could be losing inches without losing any pounds – and that’s still a good thing! Take your measurements and have your gym measure your body fat. Get your body fat remeasured in a couple of months, and you’ll get a much more accurate idea of how you’re getting into shape. If you’re sticking to your points and exercising, you’re doing everything RIGHT. You can try adding more water and more exercise, but the fact is, the weight won’t always come off at a steady pace. Try journaling to make sure that you’re accounting for everything you eat, just to make sure. Otherwise, just keep at it and you will succeed! </broken record mode Welcome to the group.
-Petal — It’s my weight loss page! http://petalww.tripod.com/ UK (WW At Home) 187 – January/99 163 – started WW June/01 148 – this week 140ish – goal
– Hide quoted text — Show quoted text – Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
are you drinking enough water? well then drink MORE than enough. I swear drinking WATER is the best thing for me in so many ways. <stopped to take a few gulps sorry also are you sure your portions haven’t snuck up a smidge… whenever you get stuck losing weight and are on plan… check your sizes/portions… I know that right now I splurge and underestimate my coffee creamer and maybe some sizes but with the amount of weight I have to lose, I am not too worried about it until the weight loss stops. Then I can reevaluate. I am not saying to weigh and measure EVERYTHING ALL THE TIME but if you are having problems then maybe every few weeks it would be a good idea to check out the optical illusion we refer to as a CUP of pasta (not as much as I would like to be honest) bright blessings Nessa 261/261/235 (10%) — and if you wish for things that are only in the past just remember that the wrong things aren’t supposed to last it’s over and done, the rest is gonna come when you let it Mary-Chapin Carpenter ’this is love’
Response:
Hello, Im new to the group. I joined WW online in September. Initially it seemed to be going fine. I lost about 14 lbs. Then, it seemed I gained a couple, and over the last couple of weeks it seems I can’t shake it and continue to lose. Last week, I added a 2 night per week cardio kick boxing class (which for me is like a masochistic nightmare! <chuckling considering how out of shape I am), Im doing my best to keep up without injury to self. I was hoping that after 2 classes, and staying on program I would at least see a 1 lb shift. NOTHING! Anyone got any hints to kick start the drop again? Thanks for being here.
Response:
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Accounting
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Accounting Talk » Office Accounting » What qualifies for fixed asset?
What qualifies for fixed asset?
Question:
Your board is an expense not a fixed asset please believe me?
– Hide quoted text — Show quoted text – Why so many references to an aircraft? I don’t think that is a good example given my post. Brett Is there an amount limit in the US that one can say something is an expense or fixed asset? Say below $250 is an expense. What conditions should I use to qualify an expense or fixed asset? Maybe a computer cpu, motherboard, office white board, office table are all expenses because they are under $250, yet last longer than a year as a fixed asset does. Thanks, Brett
Response:
It was just a question that I had, which had some relation to your post.
– Hide quoted text — Show quoted text – Why so many references to an aircraft? I don’t think that is a good example given my post. Brett Is there an amount limit in the US that one can say something is an expense or fixed asset? Say below $250 is an expense. What conditions should I use to qualify an expense or fixed asset? Maybe a computer cpu, motherboard, office white board, office table are all expenses because they are under $250, yet last longer than a year as a fixed asset does. Thanks, Brett
Response:
Hi John As you know appreciating assets remain on the books in the USA at cost.. The concept here is "don’t count your chickens before they hatch" <g Accountants call that the "cost principle" The cost principle has roots in conservatism, losses related to assets are recorded as they happen but "possible" gains are not. For practical purposes as Cindy stated it is not a gain or loss until you sell or trade. We live in a world with a variable dollar. It matters not to the tax man if you paid $34,000 in 1978 for an item and now the $$ value is $75,000. Well $75,000 today is not $34,000 in 1978 $$ so you will (maybe) be paying tax because a 2k+ $$ is worth $0.30. I would write it off. The money is still shrinking in relation to the value of goods. The non-cash tax benefit helps your cash flow. I would investigate with a tax specialist to find, if you trade the plane, if there are tax "roll over" possibilities that could avoid a tax on the gain. If you sell the plane outright in the future you will pay the tax with less valuable $$ than today and you will have the cash from the sale to pay any tax. – Hide quoted text — Show quoted text – Excellent response, John. Perhaps you can volunteer an opinion on a somewhat similar topic that I posted on this board a few weeks ago. It too, deals with fixed assets, but along a slightly different tangent. As an example, I purchased an airplane in 1978 (brand new) for $34,000. Now in 2001, some 23 years later, that same aircraft has a fair market value of around $75,000. Granted, there have been some capital improvements along the way, but if you factor those out of the equation, the appraised value of the aircraft is around $60-65,000. Still significantly higher than the cost basis. The increase in value is mostly due to a general, low level of supply of light aircraft in the 1980’s and early 1990’s because manufacturer’s left the market to avoid excessivily high liability exposures. One major builder went bankrupt as a result. Recently, legislation restricted product liability to aircraft manufacturers to 15 years (I think), so many companies have re-entered the market. The question is, "How would you treat this asset with regards to depreciation?" Consider the fact that the salvage value exceeds the cost. Additionally, how can I predict what will happen in the future now that the problem that caused this situation has been resolved? Only time will tell, I suppose.
<snip
Response:
John, again, thanks for the input. Your points are valid, except I should add a couple of other wrinkles. First of all, I am not particularly interested in how we treat this for tax purposes. I am writing them off on a 6-year ADS. The tax issues, as well as any potential capital gains are actually moot, since the aircraft is owned by a non-profit organization. I am more interested in the GAAP thinking concerning how to state these assets in our financial statements.
– Hide quoted text — Show quoted text – Hi John As you know appreciating assets remain on the books in the USA at cost.. The concept here is "don’t count your chickens before they hatch" <g Accountants call that the "cost principle" The cost principle has roots in conservatism, losses related to assets are recorded as they happen but "possible" gains are not. For practical purposes as Cindy stated it is not a gain or loss until you sell or trade. We live in a world with a variable dollar. It matters not to the tax man if you paid $34,000 in 1978 for an item and now the $$ value is $75,000. Well $75,000 today is not $34,000 in 1978 $$ so you will (maybe) be paying tax because a 2k+ $$ is worth $0.30. I would write it off. The money is still shrinking in relation to the value of goods. The non-cash tax benefit helps your cash flow. I would investigate with a tax specialist to find, if you trade the plane, if there are tax "roll over" possibilities that could avoid a tax on the gain. If you sell the plane outright in the future you will pay the tax with less valuable $$ than today and you will have the cash from the sale to pay any tax. Excellent response, John. Perhaps you can volunteer an opinion on a somewhat similar topic that I posted on this board a few weeks ago. It too, deals with fixed assets, but along a slightly different tangent. As an example, I purchased an airplane in 1978 (brand new) for $34,000. Now in 2001, some 23 years later, that same aircraft has a fair market value of around $75,000. Granted, there have been some capital improvements along the way, but if you factor those out of the equation, the appraised value of the aircraft is around $60-65,000. Still significantly higher than the cost basis. The increase in value is mostly due to a general, low level of supply of light aircraft in the 1980’s and early 1990’s because manufacturer’s left the market to avoid excessivily high liability exposures. One major builder went bankrupt as a result. Recently, legislation restricted product liability to aircraft manufacturers to 15 years (I think), so many companies have re-entered the market. The question is, "How would you treat this asset with regards to depreciation?" Consider the fact that the salvage value exceeds the cost. Additionally, how can I predict what will happen in the future now that the problem that caused this situation has been resolved? Only time will tell, I suppose. <snip
Response:
If you sell this asset then you will open a disposal account this willinclude the money received for the aircraft and the total depreciation that you have charged to expenses. The difference between the cost of the fixed asset when you bought it and what it is valued at now will as you say be a profit. This profit is then put back into your accounts as an income. If it was a loss then that woukld also be entered in your profit and loss account but as an expense. I guess you have no need to worry until you sell it! – Hide quoted text — Show quoted text – Excellent response, John. Perhaps you can volunteer an opinion on a somewhat similar topic that I posted on this board a few weeks ago. It too, deals with fixed assets, but along a slightly different tangent. As an example, I purchased an airplane in 1978 (brand new) for $34,000. Now in 2001, some 23 years later, that same aircraft has a fair market value of around $75,000. Granted, there have been some capital improvements along the way, but if you factor those out of the equation, the appraised value of the aircraft is around $60-65,000. Still significantly higher than the cost basis. The increase in value is mostly due to a general, low level of supply of light aircraft in the 1980’s and early 1990’s because manufacturer’s left the market to avoid excessivily high liability exposures. One major builder went bankrupt as a result. Recently, legislation restricted product liability to aircraft manufacturers to 15 years (I think), so many companies have re-entered the market. The question is, "How would you treat this asset with regards to depreciation?" Consider the fact that the salvage value exceeds the cost. Additionally, how can I predict what will happen in the future now that the problem that caused this situation has been resolved? Only time will tell, I suppose. Assets represent resources owned (controlled) by the entity. There are some fundamental rules in accounting, "great principles" and the one in this case is the "matching principle". Costs associated with revenue earned must be matched in the accounting period. Therefore almost all expenses are in fact assets but because they are used completely in the accounting period they are expensed at the time of purchase. Most of questions as to asset v expense are with "capital assets" For accounting purposes (not income tax) a capital asset has a limited life that extends beyond the accounting period and is expensed, matched in a systematic and rational manner to the future revenues that it contrubutes toward. This rule is tempered for accounting purposes (not income tax) by the "materiality concept" and the "cost-benefit" constraint. If the value of the item(s) is not large enought to affect decisions (material) or if the cost of recording the item out-weighs the value of the benifits it is expensed (subject to tax rules). The systematic and rational manner is important. Make some rules and stick to them. (systematic). The cost of an individual items if it is to be part of a whole is not the cost of the item. If you buy computer parts and each item is under $200.00 but they are used to create a $10,000 computer system you must record the $10,000 computer system but if you buy 5 white boards for $1,000.00 and they are in fact sepeate items at $200 each they then may be expensed. (rational)(subject to tax rules) For taxation purposes some capital assets under certain dollar value may be expensed. This is normally allowed by a class or catagory that is depreciated at 100%. Hi Brett I don’t know the correct answer to your question, but the way you word it, most of the items are expenses. A new motherboard is considered a repair to an existing asset that is already being depreciated. <snip I purchased 5, 6 foot long chalkboards, heavy suckers. These I had to claim as an asset and depreciate the cost. Had I only purchased one of them, it would have been a standard office expense. TTUL Gary
Response:
Thanks for the input, Cindy. I realize the capital gain implications, but I am more interested in whether or not I should depreciate this asset at all, or if so, at what rate?
– Hide quoted text — Show quoted text – If you sell this asset then you will open a disposal account this willinclude the money received for the aircraft and the total depreciation that you have charged to expenses. The difference between the cost of the fixed asset when you bought it and what it is valued at now will as you say be a profit. This profit is then put back into your accounts as an income. If it was a loss then that woukld also be entered in your profit and loss account but as an expense. I guess you have no need to worry until you sell it! Excellent response, John. Perhaps you can volunteer an opinion on a somewhat similar topic that I posted on this board a few weeks ago. It too, deals with fixed assets, but along a slightly different tangent. As an example, I purchased an airplane in 1978 (brand new) for $34,000. Now in 2001, some 23 years later, that same aircraft has a fair market value of around $75,000. Granted, there have been some capital improvements along the way, but if you factor those out of the equation, the appraised value of the aircraft is around $60-65,000. Still significantly higher than the cost basis. The increase in value is mostly due to a general, low level of supply of light aircraft in the 1980’s and early 1990’s because manufacturer’s left the market to avoid excessivily high liability exposures. One major builder went bankrupt as a result. Recently, legislation restricted product liability to aircraft manufacturers to 15 years (I think), so many companies have re-entered the market. The question is, "How would you treat this asset with regards to depreciation?" Consider the fact that the salvage value exceeds the cost. Additionally, how can I predict what will happen in the future now that the problem that caused this situation has been resolved? Only time will tell, I suppose. Assets represent resources owned (controlled) by the entity. There are some fundamental rules in accounting, "great principles" and the one in this case is the "matching principle". Costs associated with revenue earned must be matched in the accounting period. Therefore almost all expenses are in fact assets but because they are used completely in the accounting period they are expensed at the time of purchase. Most of questions as to asset v expense are with "capital assets" For accounting purposes (not income tax) a capital asset has a limited life that extends beyond the accounting period and is expensed, matched in a systematic and rational manner to the future revenues that it contrubutes toward. This rule is tempered for accounting purposes (not income tax) by the "materiality concept" and the "cost-benefit" constraint. If the value of the item(s) is not large enought to affect decisions (material) or if the cost of recording the item out-weighs the value of the benifits it is expensed (subject to tax rules). The systematic and rational manner is important. Make some rules and stick to them. (systematic). The cost of an individual items if it is to be part of a whole is not the cost of the item. If you buy computer parts and each item is under $200.00 but they are used to create a $10,000 computer system you must record the $10,000 computer system but if you buy 5 white boards for $1,000.00 and they are in fact sepeate items at $200 each they then may be expensed. (rational)(subject to tax rules) For taxation purposes some capital assets under certain dollar value may be expensed. This is normally allowed by a class or catagory that is depreciated at 100%. Hi Brett I don’t know the correct answer to your question, but the way you word it, most of the items are expenses. A new motherboard is considered a repair to an existing asset that is already being depreciated. <snip I purchased 5, 6 foot long chalkboards, heavy suckers. These I had to claim as an asset and depreciate the cost. Had I only purchased one of them, it would have been a standard office expense. TTUL Gary
Response:
Why so many references to an aircraft? I don’t think that is a good example given my post. Brett
– Hide quoted text — Show quoted text – Is there an amount limit in the US that one can say something is an expense or fixed asset? Say below $250 is an expense. What conditions should I use to qualify an expense or fixed asset? Maybe a computer cpu, motherboard, office white board, office table are all expenses because they are under $250, yet last longer than a year as a fixed asset does. Thanks, Brett
Response:
Assets represent resources owned (controlled) by the entity. There are some fundamental rules in accounting, "great principles" and the one in this case is the "matching principle". Costs associated with revenue earned must be matched in the accounting period. Therefore almost all expenses are in fact assets but because they are used completely in the accounting period they are expensed at the time of purchase. Most of questions as to asset v expense are with "capital assets" For accounting purposes (not income tax) a capital asset has a limited life that extends beyond the accounting period and is expensed, matched in a systematic and rational manner to the future revenues that it contrubutes toward. This rule is tempered for accounting purposes (not income tax) by the "materiality concept" and the "cost-benefit" constraint. If the value of the item(s) is not large enought to affect decisions (material) or if the cost of recording the item out-weighs the value of the benifits it is expensed (subject to tax rules). The systematic and rational manner is important. Make some rules and stick to them. (systematic). The cost of an individual items if it is to be part of a whole is not the cost of the item. If you buy computer parts and each item is under $200.00 but they are used to create a $10,000 computer system you must record the $10,000 computer system but if you buy 5 white boards for $1,000.00 and they are in fact sepeate items at $200 each they then may be expensed. (rational)(subject to tax rules) For taxation purposes some capital assets under certain dollar value may be expensed. This is normally allowed by a class or catagory that is depreciated at 100%. – Hide quoted text — Show quoted text – Hi Brett I don’t know the correct answer to your question, but the way you word it, most of the items are expenses. A new motherboard is considered a repair to an existing asset that is already being depreciated. <snip I purchased 5, 6 foot long chalkboards, heavy suckers. These I had to claim as an asset and depreciate the cost. Had I only purchased one of them, it would have been a standard office expense. TTUL Gary
Response:
Excellent response, John. Perhaps you can volunteer an opinion on a somewhat similar topic that I posted on this board a few weeks ago. It too, deals with fixed assets, but along a slightly different tangent. As an example, I purchased an airplane in 1978 (brand new) for $34,000. Now in 2001, some 23 years later, that same aircraft has a fair market value of around $75,000. Granted, there have been some capital improvements along the way, but if you factor those out of the equation, the appraised value of the aircraft is around $60-65,000. Still significantly higher than the cost basis. The increase in value is mostly due to a general, low level of supply of light aircraft in the 1980’s and early 1990’s because manufacturer’s left the market to avoid excessivily high liability exposures. One major builder went bankrupt as a result. Recently, legislation restricted product liability to aircraft manufacturers to 15 years (I think), so many companies have re-entered the market. The question is, "How would you treat this asset with regards to depreciation?" Consider the fact that the salvage value exceeds the cost. Additionally, how can I predict what will happen in the future now that the problem that caused this situation has been resolved? Only time will tell, I suppose.
– Hide quoted text — Show quoted text – Assets represent resources owned (controlled) by the entity. There are some fundamental rules in accounting, "great principles" and the one in this case is the "matching principle". Costs associated with revenue earned must be matched in the accounting period. Therefore almost all expenses are in fact assets but because they are used completely in the accounting period they are expensed at the time of purchase. Most of questions as to asset v expense are with "capital assets" For accounting purposes (not income tax) a capital asset has a limited life that extends beyond the accounting period and is expensed, matched in a systematic and rational manner to the future revenues that it contrubutes toward. This rule is tempered for accounting purposes (not income tax) by the "materiality concept" and the "cost-benefit" constraint. If the value of the item(s) is not large enought to affect decisions (material) or if the cost of recording the item out-weighs the value of the benifits it is expensed (subject to tax rules). The systematic and rational manner is important. Make some rules and stick to them. (systematic). The cost of an individual items if it is to be part of a whole is not the cost of the item. If you buy computer parts and each item is under $200.00 but they are used to create a $10,000 computer system you must record the $10,000 computer system but if you buy 5 white boards for $1,000.00 and they are in fact sepeate items at $200 each they then may be expensed. (rational)(subject to tax rules) For taxation purposes some capital assets under certain dollar value may be expensed. This is normally allowed by a class or catagory that is depreciated at 100%. Hi Brett I don’t know the correct answer to your question, but the way you word it, most of the items are expenses. A new motherboard is considered a repair to an existing asset that is already being depreciated. <snip I purchased 5, 6 foot long chalkboards, heavy suckers. These I had to claim as an asset and depreciate the cost. Had I only purchased one of them, it would have been a standard office expense. TTUL Gary
Response:
Is there an amount limit in the US that one can say something is an expense or fixed asset? Say below $250 is an expense. What conditions should I use to qualify an expense or fixed asset? Maybe a computer cpu, motherboard, office white board, office table are all expenses because they are under $250, yet last longer than a year as a fixed asset does. Thanks, Brett
Response:
I thought the answers were given in response to your earlier post! — Ken Russell Sydney
Is there an amount limit in the US that one can say something is an expense or fixed asset? Say below $250 is an expense. What conditions should I use to qualify an expense or fixed asset? Maybe a computer cpu, motherboard, office white board, office table are all expenses because they are under $250, yet last longer than a year as a fixed asset does. Thanks, Brett
Response:
Hi Brett I don’t know the correct answer to your question, but the way you word it, most of the items are expenses. A new motherboard is considered a repair to an existing asset that is already being depreciated. The computer system (assembled and working) when you started your business was a capital expenditure, an asset with a definitive lifespan. If you replace a component within that asset it is simply an equipment repair. This may sound rediculous, but if you replace a tire on a company owned vehicle, it is considered a repair, even if that vehicle happens to be a multi-million dollar machine and the tires cost in excess of 5 grand each, it’s still a repair to an existing depreciable asset. Now the accountants can pounce on me for that one, hi hi….. Naturally, all consumables used in the office are expensed, unless you buy them in vast quantities that cannot be consumed in a reasonable time. As an example, the manufacturer of a particular product we used and loved was closing down his business. Before closing we contracted with them to run as many of this product as he could with the raw materials he had available. The finished product filled an entire 3 story warehouse. Even though it was a consumable, it became a capital expenditure and an inventoried item as well until the stock was depleted. I purchased 5, 6 foot long chalkboards, heavy suckers. These I had to claim as an asset and depreciate the cost. Had I only purchased one of them, it would have been a standard office expense. TTUL Gary
Response:
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Accounting Talk » Finance Accounting » Accounting Consulting for non Profit and Churches
Accounting Consulting for non Profit and Churches
Question:
Professional Accounting Consulting Associates Professional Accounting Consulting Associates is an independent consulting firm providing Accounting Consulting & Implementation services to nonprofit organizations. The firm has counseled leading colleges and universities, private schools, medical centers, local development corporations, small organizations, community-service agencies and churches throughout Tri State Area. The firm’s principal, ANGEL L. SANTA, has worked in non-profit and for profit accounting area since 1965. He was Vice President for Financial and Incorporation Services Group, providing counseling, accounting and organization to Churches and other not for profit organizations. Director of Finance for Teatro Moderno Puertorriqueno (The Modern Puerto Rican Theatre) a not for profit Dance company located in New York City, International Credit Manager for Ingersoll Rand International Export with clients through out the Asia Pacific Area. And many years working with Citibank, NA. Manufacturers Hanover Trust Company and Banco De Ponce Mr. Santa has been an accountant for over thirty years as well as a paralegal for over twelve years. Mr. Santa has worked as an Accountant, Consultant, Project Manager and Software implementation primarily Blackbaud accounting for non-profit, Mas90, QuickBooks Pro, Peachtree, The Raisers Edge, and One Write Plus. The firm works on a project basis according to specific agreements that stipulate objectives, methods, personnel and estimates of time and cost. A project is initiated only when both a client and the firm believe that success is highly probable. To discover this likelihood, the firm will confer confidentially with a prospective client at no cost or obligation. Our accountants and consultants have over thirty years experience in the accounting and not for profit sector. They are highly trained in various accounting packages including:
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Accounting Talk » Finance Accounting » Accountants
Accountants
Question:
I would love to marry an accountant.
Response:
I would love to marry an accountant.
How’s that? You’d like surprise counts of the houskeeping money, keeping the accounts and preparing them for audit, preparing the annual budget, reconciling bank accounts, obtaining balance confirmations from household suppliers, making countless cups of coffee for audit staff, being adequately acquainted with GAAP as regards household accounts, conducting the annual inventory, preparing your husband’s tax declarations, querying you husband’s bills for entertaining ‘Fifi’ at exotic nightspots, etc? — Roger Standing AROC Financial Performance Measurement http://mypage.bluewindow.ch/aroc
Response:
I would love to marry an accountant.
Speak of disclosure! — Prof. Timo Salmi ftp & http://garbo.uwasa.fi/ archives 193.166.120.5 Department of Accounting and Business Finance ; University of Vaasa Perfesser’s nauseating puns: ftp://garbo.uwasa.fi/pc/ts/tspun22.zip
Response:
Well if you are young and anticipate an inheritance, just keep in mind that accountants never die they merely fail to balance.
– Hide quoted text — Show quoted text – I would love to marry an accountant.
Response:
Yes, and where’s the independence? Franklynn Peterson, Editor CPA Computer Report newsletter http://www.cpacomputerreport.com
– Hide quoted text — Show quoted text – Well if you are young and anticipate an inheritance, just keep in mind that accountants never die they merely fail to balance. I would love to marry an accountant.
Response:
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Accounting Talk » Accountants » OT – Playoffs
OT – Playoffs
Question:
More later. They’ve got me kinda busy at work tonight. Yes the Sens are more of a finesse club than a goon club,
You speak as though there is nothing in between. You gonna refer to the Wings as a "goon team" now? This has become a semantic discussion, now, considering the SWEEP. But, since I love talking hockey with anybody, anywhere, I have no problem continuing this one. Don’t quit on me.
Response:
More later. They’ve got me kinda busy at work tonight. Yes the Sens are more of a finesse club than a goon club, You speak as though there is nothing in between.
No, that’s why I said ‘more of a finesse club’. There are all shades of teams out there, this year the Leafs are the epitome of the goons You gonna refer to the Wings as a "goon team" now?
I’d say the Dead Things <G play a more blended version of the two then either the Sens or the Meat Loafs. This has become a semantic discussion, now, considering the SWEEP. But, since I love talking hockey with anybody, anywhere, I have no problem continuing this one. Don’t quit on me.
The only thing really left for me now is to cheer for who ever it playing Toronto. All three of my fav teams are gone (Sens, Bs Habs). Joseph — ILLEGITIMI NON CARBORUNDUM What a long strange trip it’s been! I’m a man, but I can change, if I have to, I guess,
Response:
The third doctor said. "I like to operate on Toronto Maple Leaf fans. No guts, no brain, no spine and their heads and butts are interchangable."
Leafs beat Sens in game 2, 3 – 0 Wings lose to Kings in Game 3, 2 – 1 in LA. Detroit leads series 2 games to 1
Response:
The third doctor said. "I like to operate on Toronto Maple Leaf fans. No guts, no brain, no spine and their heads and butts are interchangable." Leafs beat Sens in game 2, 3 – 0
CJ, you’d have to be from Ottawa to understand the absolute hatred felt by Sens fans towards Toronto. It’s not just being beatenm we’ve been beaten by other teams and while disheartening, it’s the arrogance with which they react to winning. We also aren’t forgetting that the Leafs brass tried to throw their weight around to prevent Ottawa from getting this team in the first place. It’s a pure gut hatred towards the Toronto team, and in some cases, its supporters. And the final point is the cheap, dirty hockey that Toronto plays. Watching them makes me thing of the old Bean Town Brawlers and Broadstreet Bullies as powder puff teams. Now, if the refs would put their glasses on, buy some ‘nads and do their jobs, this would be a much better series. Then the games would be decided by who could play the best hockey, not who could throw the most cross checks without being called. Joseph Wings lose to Kings in Game 3, 2 – 1 in LA. Detroit leads series 2 games to 1
– ILLEGITIMI NON CARBORUNDUM What a long strange trip it’s been! I’m a man, but I can change, if I have to, I guess,
Response:
- Hide quoted text — Show quoted text – It’s a pure gut hatred towards the Toronto team, and in some cases, its supporters. And the final point is the cheap, dirty hockey that Toronto plays. Watching them makes me thing of the old Bean Town Brawlers and Broadstreet Bullies as powder puff teams. Now, if the refs would put their glasses on, buy some ‘nads and do their jobs, this would be a much better series. Then the games would be decided by who could play the best hockey, not who could throw the most cross checks without being called. Eddie Shore,……old time hockey! Seriously, I’m not one for freewheeling old Habs, Oilers kinda hockey, I think hitting is an integral and *necessary* part of the game. Grinding and pounding in front of the crease heats my blood.(and I’m a netminder)
I’m a defenseman and I know about keeping the crease clear and keeping the shooting lane clear so my goalie can see the puck, but that’s not what I’m talking about. What I am talking about is, repeated crosschecks to the back of the neck, high sticks that, if some of the Sens weren’t wearing eye guards, could take out an eye, kneelifts to the goalies face. This is what is I’m talking about. That shit is happening in every series. Watching Game three, what struck me was the floating, yes, floating. When the Sens *did* hit, it was usually a flagrant interference call. (good penalties in my book BTW, they were goal savers)
Yes the Sens are more of a finesse club than a goon club, like the Leafs, and they probably should have hired a few goons of their own. Personally I’d rather watch a game based on hockey skill then on seeing if you can injure the other teams players. This whole thing strikes me as sour grapes.
Let’s leave Don Cherry out of this. As difficult as it has been for ANY of the Canadian teams to remain financially solvent, expansion
Well, it’s a lot easier for the Leafs, their rink was 80% paid for by taxpayer dollars, the Sens even had to pay for their own interchange. The Sens have to pay a tax of ‘Non-Canadian entertainment’ the the Leafs don’t. The Leafs were given a prime location, the Sens developed a dead farm including running their own sewer, water, hydro and telephone lines (and then getting hit with a land tax hike because all these improvements increased the value of the property) and all this by the same government that gave the Leafs half of their support. Am I bitter towards the Leafs? Hell ya! Joseph — ILLEGITIMI NON CARBORUNDUM What a long strange trip it’s been! I’m a man, but I can change, if I have to, I guess,
Response:
Wings up one game to none. LEAFS BEAT SENS 1 -0 IN OVERTIME!!!!!! <g — CJ da Yooper icq #96138398 "…..you can always tell when you’re in God’s country,…all the trees point to Him"
Response:
YAHOOOOOOOOO……EH? Go Leafs, GO…. From a Former Hockey Fanatic, Kats — *** The only thing that stays the same is change ***
– Hide quoted text — Show quoted text – Wings up one game to none. LEAFS BEAT SENS 1 -0 IN OVERTIME!!!!!! <g — CJ da Yooper icq #96138398 "…..you can always tell when you’re in God’s country,…all the trees point to Him"
Response:
Wings up one game to none. LEAFS BEAT SENS 1 -0 IN OVERTIME!!!!!! <g
There were three surgeons talking about their favourite kind of patient. The first doctor said, "I like to operate on Accountants. All their parts are numbers and go into columns." The second doctor said, "I like to operate on electricians. All of their parts are colour coded." The third doctor said. "I like to operate on Toronto Maple Leaf fans. No guts, no brain, no spine and their heads and butts are interchangable." — ILLEGITIMI NON CARBORUNDUM What a long strange trip it’s been! I’m a man, but I can change, if I have to, I guess,
Response:
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Accounting Talk » Business Accounting » Can govt gives Canada3000 real routes.
Can govt gives Canada3000 real routes.
Question:
And where did these jobs go? Other airlines will fill in behind, and they will in turn employ 900 people.
Nop. The 900 are just the jobs at Inter Canadien that are lost already. The only serious hiring Air Canada will do is for maintenance work and Inter Canadien’s maintenance is still functioning. Remember what is happening here: Canadian Airlines is being folded and passengers routed on Air Canada flights. Air Canada will "hired" some of the CP operations to fill the capacity gap, and the rest will be given severance packages. There are no other airlines in the wings. Charters already have their own staff. Until they buy new planes, they won’t be hiring many more folks. competitive system. There are no real job losses as long as people travel, only rearrangement of who employs them.
Wrong. Remember that Air Canada is in the process of eliminating all the over capacity that was the result of CP and AC competing. If the number of people in airline employment can drop so dramatically, then the Canadian airlines are grossly overstaffed, and could never compete with airlines in the rest of the world.
There was overcapacity to begin with. Remember the 25 daily flighst between Calgary and Vancouver by CP alone ? AC had 14 and Westjet about 7. AC can probably do with 15-18 flight a day. They’ve already started to cut flights. And as employees accept severance packages, AC will be able to cut even more routes (especialy the silly ones such as Montreal-Denver).
Response:
I do not know what the seat pitch of the F28s is, but I am sure is is far greater than the less-than-30" pitch of most charter carriers.
My knees say otherwise. I suspect they have only a 30" pitch, 31" at the most. C3000 has 168 seats. That is 28 rows. Lets say that the 6 rows of coach convert into 8 rows of coach: If AC has 32" pitch on 26 rows, C3000 would have 29.5" pitch on 28 rows.
C3000 aircraft also don’t have the coat closet and galley at the front of the aircraft. That is the equivalent of another row of seats. From what I can tell about A320 configurations in the US, the C3000 aircraft have about 31" pitch. Certainly WestJet has been able to compete in the west, Yep, short hauls, 737 against 737s and F28s. And they were able to compete because CP was forced to put F28s to sustain those unsustainable frequencies, and 737s are better than pesky F28s. And they competed because Westerners do support local business very strongly and are very proud of anything made in Western Canada.
This is an interesting comparison. WestJet and CP were both western carriers, and both were flying 737s, yet WestJet managed to snare a significant portion of the market. They did this without the benefit of a frequent flier plan. The F28s should have been able to provide a better frequency, and combined with the CP frequent flier plan should have given CP the advantage. The government support for Air Canada is not a strong as it might have been in the past. Buzzz ! Government doesn’t care about Air Canada. It cares about jobs. Government isn’t aware that its policies have already resulted in the loss of Thousands of jobs (900 at Inter Canadien alone)
And where did these jobs go? Other airlines will fill in behind, and they will in turn employ 900 people. While disruption in people’s livelihood is never something I wish on anybody, it is the reality of a competitive system. There are no real job losses as long as people travel, only rearrangement of who employs them. But the end result is a drastic reduction in airline related employement in Canada.
If the number of people in airline employment can drop so dramatically, then the Canadian airlines are grossly overstaffed, and could never compete with airlines in the rest of the world. Further, it means that someone could create a lower cost carrier and easily blow Air Canada away with low ticket prices. Are you suggesting that such a bloated system should somehow be preserved?
Response:
J.F., YUL-DEN isn’t necesaarily "silly" when you consider UA’s (Star Alliance partner) hub there: plenty of connection opportunities between Montreal and the western U.S. (AC’s YYZ-ONT is the epitome of silly.)
Response:
But any company that wants to be "national" in Canada is expected to have a bilingual web site. How would Americans feel if Air France provided service in French only in the USA ? They would probably fly another airline. Reverse the situation, and you have C3000 offering services in a language that is not the "home" language in Qu
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Accounting Talk » Accounting » Problem with Peachtree complete accounting.
Problem with Peachtree complete accounting.
Question:
Since I updated the program with Y2K disks sent by peachtree, I am having all kinds of error messages. Is there some forum, which would help me understand the error codes etc. for Peachtree, so that I can straighten out my accounts. I will appreciate any help as Peachtree is hard to reach. Best regards, Gulab Gidwani
Response:
Try "alt.comp.software.financial.peachtree". Julie – Hide quoted text — Show quoted text – Since I updated the program with Y2K disks sent by peachtree, I am having all kinds of error messages. Is there some forum, which would help me understand the error codes etc. for Peachtree, so that I can straighten out my accounts. I will appreciate any help as Peachtree is hard to reach. Best regards, Gulab Gidwani
Response:
Sorry, but that group is not available on my server and I don’t know of any Peachtree group at all. I have ver 3.5 batch 5 which is supposed to be Y2K compliant, but as yet, I have no idea how to get the 2000 payroll tax codes modified to work. Peachtree doesn’t even support it in their Tax Service 2000 scam. – Hide quoted text — Show quoted text – Try "alt.comp.software.financial.peachtree". Julie Since I updated the program with Y2K disks sent by peachtree, I am having all kinds of error messages. Is there some forum, which would help me understand the error codes etc. for Peachtree, so that I can straighten out my accounts. I will appreciate any help as Peachtree is hard to reach. Best regards, Gulab Gidwani
– … what? You mean this isn’t a dress rehearsal? "So long, and thanks for all the fish." — last dolphin leaving planet.
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Accounting Talk » Accounting Software » Peachtree Accounting
Peachtree Accounting
Question:
Help! Does anyone know whether Microsoft Peachtree Accounting for Windows ver 3.5 is Y2K compliance.
Response:
Help! Does anyone know whether Microsoft Peachtree Accounting for Windows ver 3.5 is Y2K compliance.
Mocrosoft doesn’t make Peachtree. Peachtree’s website address is www.peachtree.com. 3.5 is not Y2K, but you can visit the site and it will give you the upgrade path for PT software. Carl Navarro
Response:
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Accounting Talk » Financial Accounting » LONG: What to put on resume
LONG: What to put on resume
Question:
I have another employment question. I am in the education field and am on medication for anxiety and panic disorders. I am able to function fine with the assistance of these meds. My question is when I apply for a job in a "drug free workplace" what do I tell them? I am afraid I may not be hired if I mention it (although I am certain they will give another reason), and if the screening comes out positive, then I would be eliminated for lying. What to do?
Why would this be a problem? These *are* prescription medications, aren’t they? Just be honest. "Drug free" implies illegal drugs, not things that are meant to keep you healthy and are prescribed by a doctor.
Response:
Thanks for all the posts & emails!. I just finished printing my resume and cover letter and will go mail it soon. I will be offline until at least Sunday, at which time I will try to respond to all the comments & suggestions. Joyous (belated) Solstice, Happy Channukah, Merry Christmas and Happy Ramaden to all! Lori from SF
Response:
I’ve been talking about getting a job for a while now. Well what could be a golden opportunity has fallen into my lap, so I need some
advice. Lori, I’ll get back to you on this matter tomorrow. I am almost asleep now. Anyway, I work at an SDA that receives grant monies to educate/reeducate those who are unemployed. I do a lot of work with resumes for people like you. Have a little patience and I’ll get back to you. … Tasha … ~8)
Response:
I’ve been talking about getting a job for a while now. Well what could be a golden opportunity has fallen into my lap, so I need some advice. Short Version: For those who have been unemployed, then found jobs. What did you put on your resume and say in your interviews?
You answered that question yourself. You have been self-employed (resume) and not really in need of full time employment (interview). **I am going to put on my resume for the past 1 1/2 years is self-employed tax preparer and financial consultant. This is true, I have been preparing tax returns for family members and some friends (for money!) and my mom’s paid me to do some financial consulting, which I worked hard on (and am still working on).
**During the interview (if it gets that far) I’m going to say (almost verbatim): I left the job to deal with some health issues. Go easy here.
… Best to keep the health issues under wraps unless directly asked. It may be illegal to discriminate, but they do and get away with it … "someone else is more qualified." I also received a modest inheritance from my grandmother (true) so I decided to take the time to really get my life together. ( Forget the income talk. It’s none
of their business.) I did some (had the opportunity to do some) traveling. ( and got my body back in order. )
Again, your health issue is none of their business and could be used against you. The reason I am looking for this job now is because you sent me a letter, and I thought it would be foolish to ignore an opportunity like this.
Right on!!! They are convincing you that they are giving YOU a great opportunity! – Hide quoted text — Show quoted text -Long Version: Before my breakdown I was working in the perfect job (for me). I was preparing tax returns for individuals and trusts for one of the major accounting firms, on a flex-time schedule where I averaged 30 hrs a week, but I could ‘book’ over time so I could have long vacations, etc. There was no pressure to become a manager (yecch!) and people appreciated my work. When I broke down I didn’t call into work for 3 weeks, so I lost the job. (I know there’s a possibility I could get it back under the anti-discrimination law, but I pushed it as far as I was willing
to go). Forget the long version. It may lose you the opportunity. Stress the opportunity they are offering you which is convincing you to leave the realm of self-employment. Since then (July 1996) I have been on a combination of disability and unemployment. I was planning to start temp work after Christmas (if my body cooperates). There aren’t a lot of positions like what I had. There are about 3 companies that do this and 2 were ruled out because I wouldn’t or couldn’t go back to work for them. The 3rd I had also worked for but I thought it wouldn’t work out.
Don’t tell them the above. – Hide quoted text — Show quoted text -Friday a get a letter in the mail from the 3d firm. (It’s addressed to all former employees, not me personally, but . . . ) They are changing around how they do their tax preparation and are hiring exactly what I am qualified for. They are hiring full-time but also part-time, seasonal and flex-time. The only thing NOT perfect about this is that the job is in Oakland – but even that just means I’ll have a longer commute by public transit (I don’t own or plan to own a car). I DON’T want a full time job. As a matter of fact I’m not even sure I want a permanent job at this time. I’d be happy to have a seasonal job, just to see if I can make
it. Stress the perfect part if you want the chance for the work. Always tell the good stuff and shhh on the negs. No explainations are needed. Just think of how that traveling has changed your outlook on life, and don’t forget how much you learned being self-employed. These are NOT lies, they are the better part of the truth. This could be my perfect job AGAIN. Not many people get two chances like this. So, I’m updating my resume and am going to send it in
Monday. Keep it brief. Your resume is intended to get you the interview, not the job. The interview is how you get the job. Use phrases. Start them with action words or skill words, as say, "Communicate well with customers" instead of, "I am very good at working with customers." This way as the prospective employer reads your resume, he picks up the most important words. Remember, he will be reading (skimming ) a number of resumes. In actuality some companies run the resumes through a scanner to pick up the specific attributes they want in an employee. A long time ago, I got a pamphlet (written by a local attorney who specializes in discrimination law) about what to say and not say on resumes and interviews. Basically the pamphlet says NOT to use the words disability, diagnosis, workers’ comp, etc. It says it’s ok to mention ‘health problems’ but to minimize ongoing complications and if the problem is cleared up to say so.
Right on … but feel freee to skip the health problems altogether. An employer may be paying for some of your health insurance. ~ Snipped the part already talked about ~ The reason I am looking for this job now is because you sent me a letter, and I thought it would be foolish to ignore an opportunity like
this. Great stuff here! If they ask me why I’m not going back to my old job I’m going to say: I’m still exploring my options (implying that I might).
Good! – Hide quoted text — Show quoted text -Anyway, I’d like to get people’s reactions. Also, if anyone wants the address where to send to get this pamphlet, I can send it (or post it if there’s enough interest). I was talking to my sister (who does administrative stuff) and she says to say NOTHING. I don’t have to disclose my (potential) disability. After reading what I could find on the net, this seems to be true. As long as you can do the job, with accommodation, you don’t have to mention the job until after hired. AND THEY CAN’T ASK. The only exception is if there is some reason, like a delivery person has to be able to lift boxes.
Your sister is right. Don’t mention your problems after you are hired either unless you have to. I’m feeling better than I have in a long time (not just the anxiety/depression, but also allergies are under control and the weight is getting there. I don’t know for sure whether my anxiety will come back once I am working again. I hope not, I don’t expect it, but it’s possible (and of course I’m still enough of a worry wart to worry about it). I need all the encouragement I can get.
I am behind you 100%!!! If you made it this far, thanks for reading.
I hope my input helped. As I said, my work is in training and retraining the unemployed. We help out with lots of GOOD resumes. I know because I can’t believe some of the ones we get from those looking for teaching jobs. Let us … me… know how you make out. Lori from SF
Woops, that’s not me. I’m … … Tasha … ~8) – Hide quoted text — Show quoted text -Not one shred of evidence exists in favor of the idea that life is serious.
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I have another employment question. I am in the education field and am on medication for anxiety and panic disorders. I am able to function fine with the assistance of these meds. My question is when I apply for a job in a "drug free workplace" what do I tell them? I am afraid I may not be hired if I mention it (although I am certain they will give another reason), and if the screening comes out positive, then I would be eliminated for lying. What to do?
Cindy, Big difference between medications for a disorder or illnes as opposed to the *drugs* they are looking for. I never had to take a drug test, but if I did I would first ask what they are looking for (you have the right to know that). I don’t know of any tests that are looking for stuff like Xanax or Zoloft, typically marijuana, coke, other street stuff, maybe alcohol. I don’t know what to tell you – there have been times I have told employers about my PD and times I did not. I did when I was working THIER hours because I felt they needed to know in case I panicked. I didn’t when I contracted and worked my own hours. Maybe someone else knows better if this would show up or not. Is a shame we have to be worried about it as they, like you said, help you function normally. Gwen
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<piggybacking on Jen’s post cause I’m lazy I have been in the position of interviewing and hiring for three different companies. I would not look askance at a period of unemployment for raising children (men or women) or for a period of self-employment, as I have been self-employed a couple of times. I would, however, be suspect if an interviewee volunteered information to the effect that s/he was "trying to get her life together," "had some medical problems," as I am automatically concerned with future problems with absenteeism, Workman’s Comp claims, etc. Not the way it’s supposed to work, but, employers are USUALLY human.
Lori, I don’t think you have children, do you? If not, then "raising children" should be out. <G I would go the "tried to start my own business" route, especially now that CW has been so good as to post all the details about what drug screens pick up, etc. (Thanks, CW!!) Well, be sure and let us know which way you go, ‘k? And how the interview goes, etc. Not sure if this will help, but I was Terrified of job interviews, beforehand. Once they actually start, though, you just want to tell your story and explain why you are the best possible choice for the job. A couple of hints from the side of me that has conducted interviews from the other seat: Sit up straight, have a picture-perfect copy of your resume, references, letters of recommendation and examples of your work (if applicable) with you, don’t fidget with your hair or hands, look the interviewer in the eye regularly, and, most important, see him/her as a person trying to do a good job for his/her company, not as someone out to blow *you* outta the water!! *Don’t* say you’re nervous, even if you are. *Don’t* be the first to mention pay. If you are asked what sort of salary you are expecting, brighten up and say, "Well, if this is a job offer, I’m sure we can come to some kind of agreement." Good luck!! Elizabeth
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I’ve been talking about getting a job for a while now. Well what could be a golden opportunity has fallen into my lap, so I need some advice. <snipped for space
Lori, My advice to you is say NOTHING about your PD. Go in as any other person would for the interview, get the job, and then, if there are problems, deal with it according to the new law that’s in place that will protect your job. If you tell them up front, you will not have avery good chance of getting hired. If they ask why you have not been working, ….if you have children…say you were staying home to raise your children and you are now ready to re-join the out-of-the-home workforce. I think most on this group will agree with this advice…???? Best Wishes, Jen
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I have another employment question. I am in the education field and am on medication for anxiety and panic disorders. I am able to function fine with the assistance of these meds. My question is when I apply for a job in a "drug free workplace" what do I tell them? I am afraid I may not be hired if I mention it (although I am certain they will give another reason), and if the screening comes out positive, then I would be eliminated for lying. What to do? Cindy
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[...] Short Version: For those who have been unemployed, then found jobs. What did you put on your resume and say in your interviews?
Short Answer: I wouldn’t worry about it TOO much, Lori. This is one of those few situations in which one can benefit from sexism. That is, if you’re male and there’s a long gap on your resume, they get curious. If you’re female, they assume you were off doing "girl stuff"–having babies or fixing somebody’s dinner or something (regardless of your marital status, these days). I wouldn’t try to explain it at all. Yes, there’s an implicit (and wry) smiley in this message–but I also believe it to be true. And I do some of the hiring where I work. Virginia
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<snipping… I’m feeling better than I have in a long time (not just the anxiety/depression, but also allergies are under control and the weight is getting there. I don’t know for sure whether my anxiety will come back once I am working again. I hope not, I don’t expect it, but it’s possible (and of course I’m still enough of a worry wart to worry about it). I need all the encouragement I can get.
Lori- For the past four years I have been self employed and for the last two have done a great deal of work for two firms, almost exclusively. At one place I told them what was going on, at the other, I said nothing. At the place where my colleagues knew, I was more anxious and worried about "falling apart". I put more stress on myself since I figured if they saw anything "wrong" with me, they would assume I was losing it again. At the other firm, I didn’t have that stress. It was easier for me and I did better (and still do) there with panic and anxiety. Just my experience. all the best- Lisa
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I have another employment question. I am in the education field and am on medication for anxiety and panic disorders. I am able to function fine with the assistance of these meds. My question is when I apply for a job in a "drug free workplace" what do I tell them? I am afraid I may not be hired if I mention it (although I am certain they will give another reason), and if the screening comes out positive, then I would be eliminated for lying. What to do? Cindy
I saw some stuff when I was looking for my info. There is a web site at http://www.eeoc.gov/ From what I could tell, employers are allowed to discriminate against illegal drug use. Presumably this means they can’t discriminate against legal drug use. After all, there are plenty of medications that would show up in a drug test, depending on what they test for and how. There was also info about how the info is to be kept confidential. Just don’t eat any poppy bread or bagels before the test. This gives a positive reading for opium. :) Lori from SF Not one shred of evidence exists in favor of the idea that life is serious.
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Hi Lori
I’ve been talking about getting a job for a while now. Well what could be a golden opportunity has fallen into my lap, so I need some advice. Short Version: For those who have been unemployed, then found jobs. What did you put on your resume and say in your interviews? I am going to put on my resume for the past 1 1/2 years is self-employed tax preparer and financial consultant. This is true, I have been preparing tax returns for family members and some friends (for money!) and my mom’s paid me to do some financial consulting, which I worked hard on (and am still working on).
***Lori, I agree with putting that for the past 1 1/2 years you have been self- employed. During the interview (if it gets that far) I’m going to say (almost verbatim): I left the job to deal with some health issues. I also received a modest inheritance from my grandmother (true) so I decided to take the time to really get my life together. I did some traveling and got my body back in order. The reason I am looking for this job now is because you sent me a letter, and I thought it would be foolish to ignore an opportunity like this.
***Lori, I would not mention leaving the old job for health issues or because you received a modest inheritance. If you were a prospective employer hearing these two statements, you might think 1) this person has serious health problems or 2) this person will only work long enough to get a bit of money and then they will quit. Saying that you want to get your life together sounds nice except for the fact that they might just interpret it as you have a lot of problems. Unfortunately, many employers have been burned by employees who don’t have their lives together or by employees who are sick a lot from chronic health problems or employees who quit as soon as they have a bit of money saved up. Why not say that you left your previous job so you could get some additional experience working on your own or something else that sounds like leaving your previous job was a positive move to further your career or work experience. Why not say that you had decided to go back into working for a company (rather than being self- employed) and that their company sounds like just the type of placement you were wanting. If they ask me why I’m not going back to my old job I’m going to say: I’m still exploring my options (implying that I might). Anyway, I’d like to get people’s reactions. Also, if anyone wants the address where to send to get this pamphlet, I can send it (or post it if there’s enough interest). I was talking to my sister (who does administrative stuff) and she says to say NOTHING. I don’t have to disclose my (potential) disability. After reading what I could find on the net, this seems to be true. As long as you can do the job, with accommodation, you don’t have to mention the job until after hired. AND THEY CAN’T ASK. The only exception is if there is some reason, like a delivery person has to be able to lift boxes.
***I agree with your sister. People do not understand anxiety disorders and they often have a lot misconceptions about anxiety disorders. Talking about your anxiety disorder or even using the term health problems may only serve to make a prospective employer wary of hiring you. Why not just emphasize what a good worker you are? BTW, this is no different than a woman with 5 young children not wanting to make a big deal about how many young kids she has. In this case, a prospective employer may be reluctant to hire her because they might fear that she would need a lot of time off work to take care of her kids. A prospective employer is looking for the best worker possible who will fit into their office. They would, thus, naturally be wary of ANY possible problems a prospective employee may have. I’m feeling better than I have in a long time (not just the anxiety/depression, but also allergies are under control and the weight is getting there. I don’t know for sure whether my anxiety will come back once I am working again. I hope not, I don’t expect it, but it’s possible (and of course I’m still enough of a worry wart to worry about it). I need all the encouragement I can get.
***I have been more anxious since going back to work. However, I try to see my work anxiety as just being another opportunity to work on learning to control and deal with my anxiety while building the best life possible for me. Best wishes, Pegi
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I’ve been talking about getting a job for a while now. Well what could be a golden opportunity has fallen into my lap, so I need some advice. Short Version: For those who have been unemployed, then found jobs. What did you put on your resume and say in your interviews? Long Version: Before my breakdown I was working in the perfect job (for me). I was preparing tax returns for individuals and trusts for one of the major accounting firms, on a flex-time schedule where I averaged 30 hrs a week, but I could ‘book’ over time so I could have long vacations, etc. There was no pressure to become a manager (yecch!) and people appreciated my work. When I broke down I didn’t call into work for 3 weeks, so I lost the job. (I know there’s a possibility I could get it back under the anti-discrimination law, but I pushed it as far as I was willing to go). Since then (July 1996) I have been on a combination of disability and unemployment. I was planning to start temp work after Christmas (if my body cooperates). There aren’t a lot of positions like what I had. There are about 3 companies that do this and 2 were ruled out because I wouldn’t or couldn’t go back to work for them. The 3rd I had also worked for but I thought it wouldn’t work out. Friday a get a letter in the mail from the 3d firm. (It’s addressed to all former employees, not me personally, but . . . ) They are changing around how they do their tax preparation and are hiring exactly what I am qualified for. They are hiring full-time but also part-time, seasonal and flex-time. The only thing NOT perfect about this is that the job is in Oakland – but even that just means I’ll have a longer commute by public transit (I don’t own or plan to own a car). I DON’T want a full time job. As a matter of fact I’m not even sure I want a permanent job at this time. I’d be happy to have a seasonal job, just to see if I can make it. This could be my perfect job AGAIN. Not many people get two chances like this. So, I’m updating my resume and am going to send it in Monday. A long time ago, I got a pamphlet (written by a local attorney who specializes in discrimination law) about what to say and not say on resumes and interviews. Basically the pamphlet says NOT to use the words disability, diagnosis, workers’ comp, etc. It says it’s ok to mention ‘health problems’ but to minimize ongoing complications and if the problem is cleared up to say so. I am going to put on my resume for the past 1 1/2 years is self-employed tax preparer and financial consultant. This is true, I have been preparing tax returns for family members and some friends (for money!) and my mom’s paid me to do some financial consulting, which I worked hard on (and am still working on). During the interview (if it gets that far) I’m going to say (almost verbatim): I left the job to deal with some health issues. I also received a modest inheritance from my grandmother (true) so I decided to take the time to really get my life together. I did some traveling and got my body back in order. The reason I am looking for this job now is because you sent me a letter, and I thought it would be foolish to ignore an opportunity like this. If they ask me why I’m not going back to my old job I’m going to say: I’m still exploring my options (implying that I might). Anyway, I’d like to get people’s reactions. Also, if anyone wants the address where to send to get this pamphlet, I can send it (or post it if there’s enough interest). I was talking to my sister (who does administrative stuff) and she says to say NOTHING. I don’t have to disclose my (potential) disability. After reading what I could find on the net, this seems to be true. As long as you can do the job, with accommodation, you don’t have to mention the job until after hired. AND THEY CAN’T ASK. The only exception is if there is some reason, like a delivery person has to be able to lift boxes. I’m feeling better than I have in a long time (not just the anxiety/depression, but also allergies are under control and the weight is getting there. I don’t know for sure whether my anxiety will come back once I am working again. I hope not, I don’t expect it, but it’s possible (and of course I’m still enough of a worry wart to worry about it). I need all the encouragement I can get. If you made it this far, thanks for reading. Lori from SF Not one shred of evidence exists in favor of the idea that life is serious.
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