Wednesday, 6 April 2016

The Three Employees - 17

Boss read the question:
Iconik Financial Services Ltd., provides various financial services including but not limited to maintenance of demat account, advising the clientele, studies/analysis of scrips. Mr. A, is a newly qualified Chartered Accountant, who is appointed as finance officer in the accounts department. He seeks your help with regard to revenue recognition. Can you please help?
Boss: You say the exam was tough? You say this question is confusing?
Employee One: Yes sir, the question certainly raises a lot of questions!!
Employee Two: We thought a lot about it sir. We spent an hour after the exam discussing it.
Boss: What’s confusing about it? The question itself says what it is about. It is about revenue recognition. It is a simple question. If you just mentioned AS 9 you would have gotten some marks.
Employee Three: It is not that simple sir. No question they ask in a CA Final exam is simple. You have to put quite a bit of thought into it before you answer.
Boss: Oh really? May I know what you guys thought and answered?
Employee Three: For a start sir, this guy Mr. A, is a Chartered Accountant. He is not some poor guy sitting in an exam hall who has to know everything by memory. He can refer any book he wants. There are the standards, guidance notes, ICAI website, ICAI helplines and lot more sources. Instead of going for all that he is asking me! Me of all people!!
In the answer I wrote down references for him. I wrote down list of books (with page numbers for quick reference!), list of websites and for live consulting I even gave your phone number sir!!
Employee Two: I thought deeper of it than that sir. The question clearly says newly qualified Chartered Accountant. Newly qualified means he’s only just passed the course in the previous attempt. So how come he doesn’t know something as simple as the revenue recognition standard? Did he forget something which he only just learnt or is it that he hadn’t learnt it? And if he hadn’t learnt it how come he qualified? Does it go to hint that there is corruption in the Board of Studies? How did this guy who doesn’t even know about AS 9 pass the exam?
I wrote the answer honestly sir, that I don’t know either and that I am willing to pay as much as Mr. A did for getting the necessary marks to pass!!
Employee One: I thought about it the way a professional would sir. I imagined myself to be a Chartered Accountant who was about to give advice!
Boss (Irritated after hearing the first two): And what advice did you give?
Employee One: None sir!!
Boss: Why? I thought at least you had some sense! Did you too think like these fools?
Employee One: I thought like a professional sir. A professional should take a wide and skeptical view of things. He shouldn't take anything for granted. That is what they thought us in the Audit Paper!! I analysed the information I had. This guy was a Chartered Accountant, a newly qualified Chartered Accountant. But then there was something not right. This guy had taken up a job as a finance officer in an accounts department. Wasn’t that strange given the huge demand they say Chartered Accountants have in the industry? Why go for a clerical job involving accounting and revenue recognition after qualifying as a chartered accountant? So clearly this guy was a dim wit or he was lying about being a Chartered Accountant!!
Then there were more questions to consider. How did this guy get the job in the accounts department when he did not even know about AS 9? And why or rather how did he come to me with the question. He had only just joined on the job. There would certainly be seniors in the department who could help him out. Instead of going to them why was he asking my help? Was he authorized to ask for help from outside the organisation, that too when the question was about something so simple which any senior could have sorted out for him? If he didn’t have the authority to ask help from outside then he was showing lack of integrity and professional behavior. His asking help from outsiders could lead to information leakage and loss of corporate image to the company. Clearly he was acting without thinking and sooner or later he will be charged for professional misconduct!! I don’t want to get mixed up in all that sir! You won’t find me abetting professional misconduct!!
Boss: Good, you have proved that you have studied well for the auditing paper.
Employee One: Thank you sir.
Boss (angry): Idiots…what do you mean thank you…you bunch of fools…***…***
-Ashok Sri Krishna

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