The other night something strange happened… in order to understand why this was a strange event you need a little bit of context. Brian has spent the last few months studying for his first section of the CPA exam, apparently this was the hardest section of the exam, anyway thanks to PWC he had this study software which went through the basic things someone would need to know in order to do well on the exam. The other night he was watching one of these lessons, which let me tell you are riveting, they consist of an accountant going through text book materials, highlighting an electronic copy of the book, and a variety of other fun activities that make me want to poke my eyes out just thinking about it. In addition to having fantastic visual effects, and being extremely interesting, the lectures are also incredibly funny… well not so much. So one of the accountants told a joke, which was painful at best, and Brian brought the computer over to me to listen to it, in the process I got to hear the practice exam question the super fun accountant was asking, Brian paused to explain the concept to me, prefacing by saying he didn’t know the answer but wanted me to hear the joke, anyway the accountant proceeded to ask the question, and the strangest thing happened… I knew the answer. I don’t mean that I chose b at random and that happened to be the answer, I mean I legitimately knew the answer and knew why that was the answer, I knew an answer to an accounting question that Brian didn’t! After this last week it turns out I now know a lot about accounting (I helped Brian run through the flashcards), that was the only instance of my brilliance, but seriously how cool is that!
I am sure you are all on the edge of your seats waiting to hear what the question was in reference to, well let me share. For those of you (MaryAnne) in Carl’s class this should make sense. The question was about what to do with non profit organizations and in kind donations, the question asked how you record those items on the balance sheet (Brian pretend that balance sheet is the right term), how do you do that? You record them as both a revenue and expense so they cancel each other out! Who knew we would learn about accounting in public health!
1 comment:
That BYU education sure is a good one...
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