THE THINGS PEOPLE SAY ...
Is 'materiality' one of them?
Posted by Maureen Windridge on 06/12/2012
I enjoy my work and people like working with me. Maybe this is because I don't take myself too seriously? Yes I have to have good attention to detail but being too pedantic can be annoying to people who do not have a financial mind ...
there's always a great atmosphere when i work in your office
I have over the years learnt when it is necessary to dot the i's and cross the t's and when I can use the accounting concept of materiality. This says accounting serves no useful purpose if the effort of recording a transaction is not worthwhile.
For example, the purchase of a stapler might benefit the business for several accounting periods. However would the time taken to record (spread) the cost over that period be of benefit to the company or have a material effect on how a reader would interpret the accounts prepared? I think not. So the purchase of an item such as a stapler is probably charged to office expenses in one period. The size of the firm and the type of the firm affects decisions made about materiality. This is where my experience comes into play.
However, going back to where I started. Comments I have received recently are:
"Thanks, Maureen, I appreciate your calm and pleasant approach" (from a customer's customer while I was doing credit control)
"Thank you Maureen. It has been a pleasure working with you and I look forward to the time ahead"
"Thank you for being so flexible Maureen"
"What I told him, Maureen, was that apart from your quirky sense of humour; you were the best person for the job." (this was a comment from an old customer who was asked by a prospective new customer to give me a reference)
"There is a lot of laughter in my office today, Maureen must be here." (I overheard an MD say that)
"Thank you for your very polite and diplomatic communication." (from another customer's customer again while I was doing credit control)
"We wish you could come to our office more often; we love your smiling face."
These are lovely things that people say. But would they keep using my services just because I laugh and smile, because I am calm and diplomatic? No! At the end of the day they use my services because I know what I am doing. I provide a good service with good results in the form of useful reporting. I have attention to detail however I don't waste time or get bogged down with minutiae. And, of course, I understand materiality.
If you want to see a happy smiley face in your office, if you want to hear laughter on a regular basis and you want good reliable financial reports then call me on +44 (0) 1908 692378 or click here to ping me an email and let's find out how I can help you to balance the books.
Until next time ...
I consider myself to be incredibly lucky because I am a bookkeeper. At the age of thirteen I did a three year course in three months and passed with distinction. Many years have gone by since then and I am still fascinated by the process of double entry bookkeeping. A process developed over 500 years ago by a venetian monk called Luca Pacioli.
Many people would like a machine that they could put all their paper work into at one end and it would come out the other end all sorted totalled and balanced. I'm glad it hasn't been invented because it would take all the fun out of my work!