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Two great things

  1. Bring yer own big wheel race down Lombard St.
  2. Accrual based accounting

More later...

Comments

Tue, 11/03/2008 - 4:00pm — Maca (not verified)

Interesting

It is very great to see how much fun men have with kid's wheels. Looks like a day with fun, well done.

Wed, 09/05/2007 - 7:30pm — 3_leet (not verified)

Ah yes

Big wheels + hills = superfun But what about radio flyer wagons? So this was just a race and not a "derby" (where you try to run each other off the road)?

Yeah, I remembered when I first discovered accrual based accounting. But realisitically, it only makes a difference at the end of the fiscal year. The hardest part (for me) was maintaining consistency, I kept wanting to use cash sometimes (for income) and accrual other times (for expenses)... apparently the IRS doesn't like that.

Wed, 12/09/2007 - 11:29pm — Zacker

Dave S.

The word says you live in my city, Pittsburgh Pennsylvania. This is something we will have to discuss in great detail the weekend before thanksgiving in Farsheed's living room.

The big wheel race was indeed a race and not a derby. It was however very violent. I considered myself lucky to compete in 4 heats and walk out without a scratch.

Accrual account for us is used mostly as a financial planning tool. It allows us to get a much more accurate understanding of how efficient of an organization we are running when we can accurately track our financial health not based on when checks come in the mail, but when we bill for work we've done. But yes, the IRS is very wary of any amount of accounting crazyness -- for good reason, it's way too easy to get creative.