Comments on: SURVEY RESULTS: Busy Season in the Crash of ’09 http://cpatrendlines.com/2009/02/24/survey-results-busy-season-in-the-crash-of-09/ Actionable Intelligence for the Tax, Accounting and Finance Community from Bay Street Group LLC Sun, 20 May 2012 13:26:34 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Paul Nowak http://cpatrendlines.com/2009/02/24/survey-results-busy-season-in-the-crash-of-09/comment-page-1/#comment-544960 Paul Nowak Mon, 02 Mar 2009 20:52:24 +0000 http://cpatrendlines.com/?p=2573#comment-544960 Regarding the LIFO article: The LIFO provision for many businesses was significant in 2008. It is ludicrous that LIFO must be used for financial statement purposes versus a simple disclosure in a footnote. It significantly changes (distorts) meaningful comparisons of turnover ratios, gross profit and a host of other ratios between companies; when any accountant knows it is simply a tax savings mechanism and is not meaningful for book purposes or real financial value. Regarding the LIFO article: The LIFO provision for many businesses was significant in 2008.
It is ludicrous that LIFO must be used for financial statement purposes versus a simple disclosure in a footnote. It significantly changes (distorts) meaningful comparisons of turnover ratios, gross profit and a host of other ratios between companies; when any accountant knows it is simply a tax savings mechanism and is not meaningful for book purposes or real financial value.

]]> By: Phil Palladino http://cpatrendlines.com/2009/02/24/survey-results-busy-season-in-the-crash-of-09/comment-page-1/#comment-544943 Phil Palladino Thu, 26 Feb 2009 12:47:33 +0000 http://cpatrendlines.com/?p=2573#comment-544943 In the individual (not connected to business clients) tax prep area, my business is slower than lasy year. Some former clients are doing their own returns I havent heard from a handful of clients whose returns I did by this time last year. Will be interesting to see if they are just late, or not coming in at all. Thankfully, this segment is a small part of my business In the individual (not connected to business clients) tax prep area, my business is slower than lasy year. Some former clients are doing their own returns I havent heard from a handful of clients whose returns I did by this time last year. Will be interesting to see if they are just late, or not coming in at all. Thankfully, this segment is a small part of my business

]]> By: Val George http://cpatrendlines.com/2009/02/24/survey-results-busy-season-in-the-crash-of-09/comment-page-1/#comment-544928 Val George Tue, 24 Feb 2009 22:20:45 +0000 http://cpatrendlines.com/?p=2573#comment-544928 Interesting stuff!! No wonder I feel like I'm working harder and enjoying it less. Interesting stuff!!

No wonder I feel like I’m working harder and enjoying it less.

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