Thread: I think I got screwed

Originally Posted by bigmark848

Hi White8,

I'm really sorry to hear that. You mentioned that your office manager might have snooped on your computer. I don't know if she still has access to your computer but you might be careful that she didn't install a keylogger. People can very vindictive when they get fired and might try to harm you later on even after they have left the building. Hope everything works out in the long run.

There are keylogger sniffers... you can snif it out

White8-

Do you have family? How is your health?

There is more to life than business.

Count your blessings.

-Russ H.

Originally Posted by White8

No wife, no kids, no girlfriend. My mom lives close by and my dad died seven months before I bought this thing. As far as my health, my blood pressure is now a consistent 160/100. I'm no longer actively flying as my flight surgeon would give me a lot of grief over that blood pressure. It might also provide me with an out...

Get on BP meds, dude.

I fought it for years. Lost weight, worked out, ate great-- and STILL had high BP. I found out that in some families, ALL of the men get higher BP when they hit 40-- ALL of them. Completely independent of their body fat, level of exercise, etc. For some families, it's genetic/cultural.

BTW, those are the families where the men died of strokes in their 40s/50s/60s, back in the 20th Century.

My college roomie's dad was 39 when he died. His grandfather, same thing. Both men were skinny (low body fat), and played soccer in leagues, as well as coaching several games each week. They also ate homemade food every night-- yeah, it had fat-- but it had nowhere near the sodium, fat, or transfat that is in fast food or was in fast food.

When I roomed w/him (he was 18/19), he honestly thought his life was half over-- he didn't plan on living past 40, since none of the men in his family did.

He turns 50 this year.

A few years ago, I went on the meds, and felt better.

Good BP medication is cheap-- even if you don't have insurance, you can afford it. Great BP meds are even better (if you *do* have insurance)-- and cheap, w/insurance.

Do it.

I regret not getting it sooner (I was all ego about never taking meds-- stupidity mon, stupidity).

I still don't take any pain meds at all when I feel pain (no aspirin, no NSAIDs, no nothing)-- that's a personal decision. When I had surgery a few years ago, I took NOTHING after the operation except the antibiotics (ie, no pain meds at all once the anesthesia wore off). My reasoning there is when my body hurts, it's telling me something. So I listen to it.

But these days, I take meds for things that are changing in my body as I age.

Had to put the ego away to do that, though.

-Russ H.

Excalibur has a point.

Perhaps moving back in w/mom is not the best of all worlds (I love my mom, but she's a negative force on my progress, even though she doesn't mean to be).

But we're making some incredibly tough decisions right now-- things that I *never* would have considered doing, ever, in my life-- all to stay afloat, and see if we can turn things around.

We've done some major re-org w/our business, and let staff go (shoulda done this sooner). My wife and I are working at a time we thought would be impossible-- when we have our little one (she winds up being w/one of us during this time).

It's hard, and we're wiped all the time-- but we've looked at the options, and this is our best chance to turn things around.

Time will tell.

PM me if you want.

-Russ H.

Originally Posted by andviv

Please tell me you already started looking for a new CPA (I am assuming it was your CPA who failed to perform the right analysis you asked and paid for).

Sorry to say this but, it does not sound like the CPA's fault. The only thing that may have been his fault is not informing you that a Review Engagement may not serve the needs you are looking for.

If you read a review report the conclusion states:

Based on the work performed nothing has come to our attention that would lead us to believe that these financial statements are not in all material respects in accordance with GAAP.

Now the work performed for a Review per the accounting guidelines are:

- Inquiry of management (Doesn't really help if management is fraudulent)
- Analytical procedures - doesn't really help if the fraud has been occurring year after year as nothing would really stand out)

Now the reason I am saying this is not to pour salt on a wound but as an advisory. If you plan on purchasing an existing business ... GET AN AUDIT DONE! Even if you negotiate in the fees and split the cost it is well worth it.

An audit consists of more substantive procedures and the opinion states:

Based on work performed the financial statements present fairly in all material respects.

Do you notice the difference? Review = negative assurance Audit = positive assurance