Mentally tired... left work and office at 12+am today. Was overly occupied with a consolidation job.
Yesterday, I text my manager, Rebecca, expressing my un-settled opinion on my performance in FYCS audit. THank goodness my senior, Yiwei, guided me through. No doubts, he's good (from his past two years hands-on) and willing. For that, I'm very grateful.
Yiwei was there at FYCS with me and he made me realised my approach for the expenditure testings not quite up to what was required. Well, he didn't reprimand me but sat down patiently to explain and provide me with a clearer picture.
Today, the understanding came through. What a relieve I managed to sort out some confusion. And good lord, I was completely clueless and lost like sotong when I faced grants.
Basically, accounting treatment of grants (FRS20) is to account for grants amortisation so as to match off either the expenditure or over useful life. To better complicate issues, there are various circumstances which restricts such treatments, mainly due to the differences in requirement set out by the funding organisation.
Well, as the going gets tough, the tough gets going. I'm gonna conquer and savor this new challenge! Yee~ha!
By the way, interest event occurring at our office today! We celebrated Efi's birthday. This Indonesia colleague. Bought KFC, MacDonalds' fries and party over lunch in our office. Well..the cake came later. Not forgetting, the amusing "amazing race" for the birthday girl, for her to locate her present after a demanding series of clue-searching. The final clue turned out to be in my boss' room (hehehe). Truly comical to witness the game.
Well well..I wished my birthday would have been more adventurous!
Yesterday, I text my manager, Rebecca, expressing my un-settled opinion on my performance in FYCS audit. THank goodness my senior, Yiwei, guided me through. No doubts, he's good (from his past two years hands-on) and willing. For that, I'm very grateful.
Yiwei was there at FYCS with me and he made me realised my approach for the expenditure testings not quite up to what was required. Well, he didn't reprimand me but sat down patiently to explain and provide me with a clearer picture.
Today, the understanding came through. What a relieve I managed to sort out some confusion. And good lord, I was completely clueless and lost like sotong when I faced grants.
Basically, accounting treatment of grants (FRS20) is to account for grants amortisation so as to match off either the expenditure or over useful life. To better complicate issues, there are various circumstances which restricts such treatments, mainly due to the differences in requirement set out by the funding organisation.
Well, as the going gets tough, the tough gets going. I'm gonna conquer and savor this new challenge! Yee~ha!
By the way, interest event occurring at our office today! We celebrated Efi's birthday. This Indonesia colleague. Bought KFC, MacDonalds' fries and party over lunch in our office. Well..the cake came later. Not forgetting, the amusing "amazing race" for the birthday girl, for her to locate her present after a demanding series of clue-searching. The final clue turned out to be in my boss' room (hehehe). Truly comical to witness the game.
Well well..I wished my birthday would have been more adventurous!
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