Can you share a specific public accounting horror story about financial reporting?
There was this small accounting team that was working on the financial reporting for a startup. The startup's founders had a very different idea of how the finances should be presented compared to the accounting standards. They kept pressuring the accountants to manipulate the numbers to make the company look more profitable. The accountants refused, but the founders then spread rumors about the accounting team's incompetence, which damaged their reputation in the industry.
Sure. There was a case where an accountant was asked to prepare financial reports for a company in a hurry. The company provided incomplete data, but still pressured the accountant to finish on time. When the reports were finally done and submitted, there were major errors due to the missing data. The accountant was then blamed for the mistakes, even though it was the company's fault for not providing all the necessary information.
Well, in one instance, an accounting firm was handling the financial reporting for a large corporation. The corporation had some unethical practices that they hid from the accounting team. When the reports were released, regulatory bodies found issues. The accounting firm faced a lot of heat as they were supposed to ensure accurate reporting. They had to spend a great deal of time and resources to prove that they were not aware of the unethical practices and to correct the reports.
Can you share a specific financial crisis horror story?
In the Savings and Loan Crisis in the United States. There were many people who had their savings in these institutions. When the S&Ls failed, some people lost their life savings. One elderly couple had been saving for decades for their retirement. They thought their money was safe in the local S&L. But when it went under, they were left with nothing. They had to move in with their adult children and rely on social welfare, which was a huge blow to their pride and financial security.
Can you share a specific prescription drugs financial horror story?
I heard about an elderly person who needed heart - related prescription drugs. The cost was exorbitant. Medicare didn't cover all of it. They had to cut back on other essential expenses like food and heating in winter to be able to afford the drugs. It was really sad as they were already on a tight budget and this just made their situation much worse.
What are some public accounting horror stories?
One horror story could be long hours during tax season. Accountants end up working 12 - 16 hours a day, with no time for family or personal life. They are constantly under pressure to meet tight deadlines and deal with complex tax forms.
Can you share a specific Symmetry Financial Group success story?
Sure. There was an agent who joined Symmetry Financial Group with no prior experience in the financial industry. Through the comprehensive training programs offered by Symmetry, this agent learned about different insurance products and sales techniques. They started by targeting their local community. With determination and hard work, they managed to sign up several clients within the first few weeks. As they gained more confidence, they expanded their reach. Eventually, they became one of the top - performing agents in their region, all thanks to the opportunities and support provided by Symmetry Financial Group.
Can you share a specific PwC success story in the financial sector?
Sure. PwC helped a bank optimize its risk management framework. By conducting in - depth audits and providing expert advice, they enabled the bank to better identify and mitigate potential risks, which ultimately safeguarded the bank's financial stability.
Can you share some specific 'for profit college horror stories' related to financial aspects?
Sure. Many students at for - profit colleges take out large loans to cover the high tuition. For example, some colleges charge exorbitant fees for courses that are of mediocre quality. Students then graduate with huge debts and find it hard to get jobs that pay enough to cover the loan repayments. In some cases, the interest rates on these loans are also much higher compared to traditional student loans, making it even more of a financial burden.
Can you share a college admission horror story about financial aid?
Sure. A student was promised a certain amount of financial aid by a college. But after accepting the admission, they received a letter saying that there was a mistake and the financial aid was much less. This left the student and their family in a difficult position as they couldn't afford the tuition without the expected aid.
Can you share some consequences in accounting horror stories?
Well, a major consequence is the damage to a company's reputation. When accounting horror stories surface, customers may start to doubt the company's integrity and take their business elsewhere. Suppliers may also become reluctant to do business with the company, fearing non - payment or instability. Another aspect is the internal chaos. Employees may become demotivated as they see the company in financial turmoil due to accounting issues. There may be a high turnover rate as people look for more stable employment. And for the management, they have to deal with the stress of trying to fix the accounting problems while also trying to keep the company afloat.
Can you share a public bathroom horror story about cleanliness?
In a particular public bathroom, the toilet seat was covered in unidentifiable stains. It made me wonder how anyone could use it like that. I had to use a lot of toilet paper to cover the seat just to be able to use it, and even then I was constantly worried about getting dirty. It was a truly unpleasant experience.
Can you share a specific mta horror story about overcrowding?
I know of a story where on a holiday, the mta was running a reduced service but there were still a lot of people out. A particular train was so overcrowded that passengers couldn't move their arms or legs properly. Some people had their bags squashed, and there was a lot of jostling. There were kids crying because they were so uncomfortable. It was a nightmare for everyone on board. And the train had to make extra stops because of some technical issues, which just added to the chaos.