If you’re not in the accounting field, you may not understand why the accounting professional can boldly hold up his or her hand and pronounce, “The month doesn’t end until I say it does!”
Of course, it is all about Accounting Adjustments – or adjusting entries for accounting purposes. A wise old accounting pro once said, “Adjusting entries are made at the end of the accounting period to make your financial statements more accurately reflect your income and expenses.” And it may take more than a minute.
The Year Doesn’t End Yet Either
Those same adjusting entries occur at the end of the year, just like they’ve been taking place each month. Accurately reflecting your income and expenses for the entire year will also require adjustments.
In the meantime, we thought we would let you in on some inside humor that takes place with the bean counters you encounter.
What do you call a trial balance that does not balance? A late night.
How many accountants does it take to screw in a lightbulb? How many did it take last year?
What do you call an accountant without a spreadsheet? Lost.
How was copper wire invented? Two accountants were arguing over a penny.
When do accountants fall over? When they lose their balance.
How can you tell if the director of a movie was an accountant before moving to Hollywood? The credits are on the right.
The pessimist sees the glass as half empty. The optimist sees the glass as half full. But the accountant sees the glass in balance.
What department matters without even having to try? The accounting department . . . because they count.
What does an accountant say when you ask her the time? It’s 9:18 am and 12 seconds; no wait – 13 seconds, no wait – 14 seconds, no wait . . .
How do you drive an accountant completely insane? Tie her to a chair, stand before her, and mess with her spreadsheet formulas.
Why are accountants always so calm, composed, and methodical? They have strong internal controls.
There are three types of accountants: those who can count and those who can’t.
When an accountant gets a new door, they adjust their entry.
It’s Not The End!
There you have it. New doors and end-of-year endings aside, we’ve had a fun and eventful year here at The Profit Constructors. We look forward to everything 2024 has in store for our clients and others in the construction industry. As always, we aim to help small- to medium-sized construction business owners Run With the Big Dogs!
Ambitious Construction Contractors look to The Profit Constructors to provide advocacy in dealing with:
Clients and customers
Employees and subcontractors
Vendors and service providers
Working with The Profit Constructors gives Construction Contractors the means to organize their operations in ways that help them:
Ready for action? Or want to know more? Get in touch today to schedule a complimentary discovery call. 866-629-7735