So I work at one of the big 4 companies, and came across an oddity in one of our calculations (internal) that sparked off my own investigation. Am in the process of putting together a paper, with worked examples of how the business is losing millions needlessly, and how to resolve it.
It holds water (not some fictional pipe dream) and the CFO is seeing this report when it's finished.
However it's going to look a bit hard to believe on a resume, I would imagine. Any ideas on how to sell this on my CV? Just put it down and give the details? or bring it up in an interview. Once explained it's pretty impressive (I like to think) and pretty clear I'm not making it up, but can something be too good to be true on a CV?
T
If you can place it in terms of "discovered accounting error/inefficiency/etc that saved client $xx million dollars" then certainly make a bullet point for it. Write just enough so that the interviewer will bring it up and go over the details during the interview.
I would wait to see how the investigation turn out, and what the CFO has to say, before deciding how to hang your laurels.
See you in a week or 2, (holiday on Thursday and the guy I need to speak to is away until next Wednesday).
Just put " (I know, right?) " after the unbelievable stuff
+1
What is your CFO's name-Bernie? Just watch out if he invites you to his place in the Hamptons over labor day. Could result in some interesting hi-jinx.
[quote=av8ter]What is your CFO's name-Bernie? Just watch out if he invites you to his place in the Hamptons over labor day. Could result in some interesting hi-jinx.
]hahahaha
[quote=av8ter]What is your CFO's name-Bernie? Just watch out if he invites you to his place in the Hamptons over labor day. Could result in some interesting hi-jinx.
]+1...avoid the Hamptons.
what is the inefficiency OP?
very inefficient communication between in currency exposure. Massive exposure to forex risk, needless too.
Incorrect calculation of cross territory bills, resulting in a cash loss posted to the "wrong" ledger so it goes unnoticed.
There is a 3rd too, but I'm yet to prove it, so will hold back.
thats cool
What's the ticker? I wanna get short that stock.
In my experience in the corporate world, there is no benefit to going above and beyond the call of duty. The last time I tried it I was almost fired in my first month on the job. This disillusioned me so much that (over time) I eventually got into entrepreneurship.
The most likely scenario is that you're wrong, are missing something, or don't have sufficient knowledge in the industry to fully understand what they're doing. The next most likely thing to happen is that your boss will reprimand you for working on a "side project" during work hours. The next most likely thing is your boss will pat you on the head and say "good work" and leave it at that, and will then mark you off as a personal threat to his/her leadership. The least likely thing to happen is that this could somehow help your career.
I hope I'm proved wrong. Let us know what happens.
I don't think this always holds, sometimes corporate accounting is a real battlefield. Of course, if he turns out to be wrong, and his company does indeed have a halo around its head - well tough luck. Otherwise, it might well earn him a medal of honor or two.
This isn't a client, its the firm itself. Caused by lack of a proper incentivisation structure (the only person that loses is the company) and what happens when firms become big and stuff merges together without clear lines on who's responsible for what.
Ultimately, the amount of money you raise in bills in - bills out != the amount the company has in its accounts (always less money in bank).
My difficulty will be in getting it changed, because right now there's just some code on the ledger that has these losses included in it, currently explained away as expected variations.
P.S. Did you know the they have currency trading desks?
Especially if it's for your firm itself, do you think a senior manager is going to appreciate the advice on proper incentivisation from a 20-something, even if that 20-something is right? Just be prepared to be disappointed in their response. I tried saving my company millions of dollars by finding an investor on their worthless REO property in Memphis, TN (and I was extremely close to finding one). When they found out I was working outside of my assigned tasks I was THIS close to termination. When I tried to explain that I was trying to help the company it completely unfazed them. A Big 4 accounting firm isn't a haven for entrepreneurship and creativity. Just remember that.
The immutable law of the universe is that no good deed goes unpunished.
Agree hugely here, however I have one factor in my favour, which is a long list of partners that I know/am related to. This can be gotten in front of the CFO if required. Tbh if this doesnt work out for me, it'll be a cue to look where I can add value sooner.
That's cool, and I appreciate where you're coming from. I'm just so cynical at this point. If it had happened to me once I'd chalk it up to bad luck, but it happened to me again at my next firm. They weren't pissed off, they were just indifferent. It was basically like, "Cool, brah. Welp, back at it..."
If I were running things (which I am now) I wouldn't operate that way. If you came to me with your ideas and they were 7 figure ideas, I'd be like, "Sit down, my friend..." I genuinely hope that's the case for you. Yeah, I said it--I hope your supervisors are as cool as I am...and as a humble... :)
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