ok thanks everyone. sorry if I worded that poorly, I haven't done tax accounting since college. back to contracts and job costing.
Yeah, just surprised at the volume and it being characterized as performance partner layoffs. Will be an interesting 2024 in the public accounting world.
When Kelly Grier took over the US business she pushed quite a few audit partners out I believe. Either that or they were tired of the PCAOB BS. Legit had an audit partner this week say you should estimate using a less precise method because it is too hard in the current controls environment.
My law firm has a CPA. They do book keeping and accounting. We use Xero. It's a 10 person business doing about $2M in revenue a year. I can't create a budget for the next year and come up with a financial plan for growth and really I can't do any sort of strategic forward thinking until I get the P&Ls for the prior year. Here we are 2/16 and I still don't have the 2023 P&Ls. Is this normal? What is a reasonable time frame to expect them to wrap up the books for 2023 and have P&Ls. If it's reasonable then I'll stop bitching.
That seems not reasonable to me for that size of a company. 2023 could have been wrapped up a month ago and 2024 budget talks could have started at the end of last year.
This 100% Worst case he should’ve been able to give you preliminary results to use for budgeting purposes
Middle of January? I can't imagine a $2m revenue law firm has a ton of adjustments that need to be made if they're keeping the books throughout the year. As danny said they should have at least been able to give you something preliminary to budget from. Hell they should have been able to give you something after November close with 11 months you could have used. Have they said why it's taking so long?