I liked your initial response as it was correct. Not liking this one.
I know people get utility out of these platforms but they’re awful and people should stop using them.
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It’s bullshit that getting banned from Twitter doesn’t simply prevent you from posting/interacting but also costs you your feed. If I’m too much of an asshole to be trusted in comment sections, fine, no argument here, but cutting someone off from a valuable tool for learning about the world is some BS.
Maybe make lists and share them with a mult. Or do the lists also die?
Hey accounting textbook - can you be a little more clear about how the lessor is supposed to account for a sales-type lease when the residual value is guaranteed by the lesee? At one point, you say that the present value of the residual is deducted from sales revenue (and COGS) because the selling process isn’t complete for that portion of the asset. That logic would seemingly apply to both guaranteed and unguarantee residual. But then later you say that guaranteed residual value is included in revenue, and only unguaranteed residudal is deducted from revenue. What the hell?
So true. Don’t even get me started on residual value. If I wanted to deal with residue all day I’d clean out my ears amirite?
I mean, I suppose you’re going to tell me that it’s ok to recognize the full amount of revenue in a sales-type lease (including the guaranteed residual value) because ASC 606 revenue recognition says you can recognize revenue as long as you’re reasonably certain you’re going to receive consideration, whether that consideration is cash or non-cash. And guaranteeing residual value pushes that residual value from uncertain to reasonably certain. I GET THAT.
But what happens when I have an asset with a fair value of $1,000,000 and I lease it to you for A WEEK for $10, with a guaranteed residual value of $9,999,990? WTF should I be able to recognize $1,000,000 on that transaction? Seems like BULLSHIT to me.
holy fuck is that what it sounds like when I talk about tech stuff? I don’t know what half of those words mean.
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I know. No wonder why people used to think I was smart.
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Been saying that shit for years. I got your residual consideration RIGHT HERE… crappy accounting textbooks.
I really thought this would exert enough gravitational force to attract everyone away from the moderation threads and unite UP against the FASB.
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I’m pacing around my living room in a barely controlled rage right now. Mission accomplished.
If you really want to be in a rage, just consider how GAAP treats the issuance of convertible debt. It doesn’t recognize the equity component - just pretends it doesn’t even exist! So what happens when a bond includes an especially generous conversion feature? It just makes it look like the firm is a low risk entity with a tiny effective interest rate. PREPOSTEROUS.
That’s it. When do we storm the Capitol over this? Just give the word.
I got your tiny effective interest rate RIGHT HERE pal! Oh wait-
Fucking 45 minute time-locked mandatory cyber security training videos that insult my intelligence by explaining what malware is to me. It’s honestly ten fucking minutes of material that I could finish in 5 or less because all of this is god damn common sense unless you’re a boomer
But no, make me sit through this and waste precious minutes of my life. Fuck you
Since this is fresh in your mind, help me out here. I just got an email from a bank I never heard of that my account is about to be closed out if I don’t act soon. Should I click the link in the email?
Fucking no, apparently.
The funny thing is I think I fell for one of those and that’s why I’m having to do this. My company periodically sends out fake phishing emails to catch people fucking up and then assigns them this training.
But they’re often extremely clever and dont look anything like real phish mail. So the result is I never click any fucking link from work emails even if theyre totally legitimate and my boss gets mad.
Lol big companies
Yeah we get those too. They got me once. Even though I suspected phishing, I’m on a mac so I don’t worry too much.
What almost got me once, and maybe this is somehow connected - I’d just made a $4k payment over paypal. Like an hour later I get a text that there’s a security issue on my paypal account. So assuming they were connected I clicked the link, started to sign in, literally had typed out my password - and said wait a minute - then realized it was a fake site.
I still changed my password just in case they had a key-logger. I had 2FA anyway but still - scary.
Someone at our company got their email hacked, then bad guy sent a legit email from his email account directing accounting to wire several hundred K to bad guy’s bank account. Which they did.
So we get these emails and everyone understands, lol.
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Lol my company does the same. I deal with multiple banks on a fairly regular basis, so when one seemingly sends me something I tend to open it.
It’s so bad that I reached out to my boss for permission for our third party tech support team to connect to my computer to install some needed software because I thought we only had an in hours tech team and I guess now we have a third party that nobody told me abou5.
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Yea I understand why they do it and think it’s a good idea. But what I do requires a lot of thinking about security, I’m clearly not the target audience for these trainings and it irritates the everloving shit out of me to have to sit through it. Especially when you’re time locked.