Boredomville

Boredomville
A boring place for a boring person

Thursday, November 03, 2005

i was just sending out the final draft of my mpw report when i felt the pressure to not foul up on the project. the pressure came with being the one who compiled the entire report. having to worry about whether there's any typo or whether the grammar is proper or maybe even whether all the reference have been included.

this pressure came about because of my first "major" mistake as an accounting student. not that i haven't made any mistakes before since starting school as a uni student but this one's quite major and soon you'll see why. tuesday during my audit class, we had our normal group break-out session. during which we were supposed to calculate the materiality tolerable error for some account. the value of the account was about $2.3 million and the tolerable error my group agreed on was 1%. so we're supposed to calculate 1% of $2.3million. and i just said $230 000. i don't know which is worse, that i cannot even get 1% of $2.3million correct or that none of my group mates realised the mistake.

well, that was one heck of a costly mistake! imagine if i were a real accountant or a financial investor. i would be out of a job in no time. the risks of working with money...

anonymous @ 12:29 am