Offtopic: really though whenever i join a new company (as a mgt accountant) there are so many things that each company does differently on their books that it takes like a year for me to fully understand the whole balance sheet income statement cash flow.. and some were the big companies listed on the asx.. i mean one example the company couldnt even balance the intangibles amount from 10 +years ago because no one was there when the transaction took place...the auditor didnt really care.
Some recognised certain expenses incorrectly etc until an auditor picks them up eventually
