As early as November, the tax season kicks in. For accountants out there, you know what I am talking about. Tax season is the period in between wrapping up a company’s books of accounts, to renewal of business permits, to financial statements presentation to external audit until filing of the Income Tax Return.
During this period, tempers are running high in the office. Especially among the finance and accounting people. There are just too many reports to finish. Too many permits and other licenses to renew. Too many things to mind lest the financial statements numbers will be inaccurate. This is also the time when most people are out partying due to the holiday season but the accountants are left in the office because there is the annual inventory to mind and books of accounts need to be filed to the internal revenue office.
January is the start of the financial statement preparation and for some companies, this is also the kick off of the external audit being done by auditors from the public auditing firms. Double dose of tension in the office…
I know the feeling all too well.
That’s what it used to be every year. Really tiresome.
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