9. Reconciling cash – How important is this function?

Very likely when you work on your first compliance engagement in public accounting, cash is your area to audit.  Reconciling cash is rather uneventful 99 out of a 100 times.  You are checking for overstatement of cash and how much is in the bank account at a period in time.  You will get it and it is important.

Yesterday I mowed the lawn at my house, I have not mowed my own lawn in several years.  I didn’t like how the landscapers were doing it, so I fired them and started to do it myself (I am considering this part of my exercise routine).

My point here is simple, time constraints-money-promotions-children, too many factors to mention result in life and career changes.  Your 2nd year in public accounting, you will be reviewing someone else reconciling cash.  After the 3rd and 4th years, likely you will glance at it to figure out other pieces of the balance sheet.  More importantly is to never shy away from keeping to the fundamentals, there are facts everywhere, do not be too good to always do anything.  It is important not to forget what has led to your successes.  Cash is uneventful; however, it is the blood of the company.

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