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Anyone familiar with the areas of McKinsey that do work on nonprofit/refugee work? What qualifications are needed? I’ve done pro bono related work at Deloitte,not sure how to do that full time.
Eg: https://www.mckinsey.com/featured-insights/employment-and-growth/a-road-map-for-integrating-europes-refugees
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Thoughts on Oglivy Chicago?
Does Genpact provide permanent work from home?
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Anyone knew or worked with Karen Ward?
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There isn’t guidance on departing from GAAP because it’s meant to be followed 100% of the time. A GAAP departure memo simply lists each departure (what guidance it falls under, what you’re doing instead and the diff) and then conclude that the departures are immaturely individually and in aggregate.
Are the departures going to result in a material adjustment if not corrected, or at least amount to balances large enough to go to the pass adjustment schedule? If so, just write up a memo that documents your acknowledgment of these “departures”, attach a schedule that shows a calculation for what you all have booked these amounts to versus what GAAP would require you to book the amounts to and provide it to your auditors. Any auditor worth their weight is going to post it to the pass schedule, omit it from the management and audit committee letters and explain to the audit committee that these were items that were identified by management and were considered immaterial to the financial statements. Pretty easy.
Okay this is what I was thinking but idk I guess I needed a sanity check because I’m not used to memorializing something without direct reference to the standards. Obv I would note standards in any departures but idk I felt uncomfortable finalizing decisions without authoritative lit. All the departures are below what AMPT would be (multiple benchmarks and thresholds) but I want to be in practice of documenting our process even if it’s internal as well. Thank you for this though. Very helpful
Make sure you’re able to quantify as well. I’ve seen a lot of clients with memos on their non-GAAP policies but then struggle to quantify and sometimes the numbers end up bigger than they realized.
Got it. Thank you! I think I quantified the impact and discussed pretty well? In my memo I discussed the materiality of each impact for 1Q22 and then annualized as well. I also cross referenced to business process narratives/memos that discuss the process and provide context