Stuff Accountants Like

Feb 2nd, 2009 by pfi

From GAAP to GAAS, CPA to CPE, and AICPA to PCAOB, accountants feel the need to shoehorn as many acronyms as possible throughout their workpapers and professional lives. While accountants are busy trying to save the world, the fact remains that accountants are incredibly lazy people.

Acronyms, as you are well aware, are words formed from letters in each word. For example, “w/o/m/e” stands for without material error. When accountants need to state clearly on each workpaper (read: write the same thing twenty times) what has been done, they rely on tickmarks and acronyms.

Across all industries of practice, accountants have an endless alphabet soup of acronyms to pick from. Not only that, but new acronyms are created each day to ensure accounting remains undecipherable to the masses. This also helps maintain the steep learning curve for all newcomers.

Instead of StuffAccountantsLike listing acronyms specific to one office, we want to encourage you to post your favorite acronyms in the comments.

Tags: #13, Acronyms, What are your favorites

Posted in List

126 Responses to “#13 Acronyms, What are your favorites?”

on 02 Feb 2009 at 3:27 pm1Greg J

We use SALY quite a bit in our workpapers. When I first started, I was thrown off… who is this SALY and how come she’s got her hands in so many projects? Come to find out later that SALY is actually Same as Last Year.
on 02 Feb 2009 at 3:38 pm2kgb

WTF – no explanation necessary
NCN – not considered necessary
on 02 Feb 2009 at 5:11 pm3Slave #69

pfr = pass further review
w/o/e – without exception
ttaw – traced to and agreed with
on 02 Feb 2009 at 5:59 pm4BH

At my firm I find the acroynms used outside of the workpapers most frustrating. And the love to change them every year.
on 02 Feb 2009 at 7:02 pm5drd0f2

SOX – SarbanesOxley
SDLC – System development life cycle
PBC – provided by client
BRB – favorite sametime saying
CISA- Certif. Info. Systems Auditor
PY – prior year
SAD and SUD – Summary of Aggreg. Deficiencies, and Summary of Unadj. differences
MF – Mainframe
Also have acronyms for all my engagements, of which some do not translate nicely to the actual name, ahem, they are creative.
on 02 Feb 2009 at 8:10 pm6cs

We’re not lazy. We’re efficiency-focused and deadline-oriented. But I do love using TLA’s to make life tough on the interns. About the time they get the system committed to memory, their internship is over.
1. s/b = should be (because it’s never correct when you get it)
2. TTB = tax trial balance (because unless you’re working an SEC client, what other trial balance matters?)
3. fb = facebook (just because)
4. BV = buisness valuation (usually synonymous with $0)
5. h/h = happy hour (not this time of year)
6. KM = knowledge management (often ignored by management)
7. CRAP = Conveniently Rationalized Accounting Principles
8. TLA = three-letter acronym (just to drive the point home)
on 03 Feb 2009 at 5:20 am7HHH

CPA – Cut and Paste Artist
on 03 Feb 2009 at 7:28 am8mike

My favorites although they aren’t used in workpapers:
NRL – No Return Lunch
CLM – Career Limiting Move (e.g. telling your Partner that you don’t feel competant enough to audit the tax workpapers)
CEM – Career Ending Move (e.g. telling your Partner to take her review comments and shove them up her a$$)
on 03 Feb 2009 at 7:44 am9PT

s/h/b – should have been
ERP – Estimated Realization Percentage
on 03 Feb 2009 at 7:46 am10I should be working

PBIAD provided by internal audit department
PAJE Proposed Adjusting Journal Entry
and the most delicious one,
BOLI Bank owned life insurance
on 03 Feb 2009 at 7:53 am11kate

NFWR – no further work required.
on 03 Feb 2009 at 8:55 am12Mike

JFDI – Just F**king Do It (usually more common a few days before a press release or report date)
on 03 Feb 2009 at 10:54 am13Amy

OSIDT – Oh S*** It Doesn’t Tie
on 03 Feb 2009 at 11:40 am14BLJ

nfwdn – no further work deemed necessary
UFD – un-F*** this
PIDB – Partner in Database
TBD – to be done
NQA – no questions asked
e/w/p – external work paper
TTUFT – Time to Un-F*** this
on 03 Feb 2009 at 12:45 pm15Eric B.

We used NFWR (no further work required) and WFI (waived further investigation) until we were told we couldn’t. I guess someone sued someone and the auditors got in trouble because both of those implied “we could have tested more if we had wanted too, but didn’t…”
on 03 Feb 2009 at 12:56 pm16Shauna

CYA – Cover your A**
on 03 Feb 2009 at 1:02 pm17Tax Diva

Hasn’t anyone else met SALY’s evil cousin, SALY CBW?

SALY CBW – Same as last year, consistent but wrong

Maybe it’s just us tax geeks.
on 03 Feb 2009 at 1:10 pm18Big4 Alum

NTK-nice to know
on 03 Feb 2009 at 1:15 pm19Mike

WTF – Wednesday Thursday Friday
Sub. Anal – Substantive Analytics
MOE – Memorandum of Examination

I hate seeing w/o/e.
on 03 Feb 2009 at 1:29 pm20Big 4 sux

The best TLAs are those that summarize jargon. Such as NRV. Net Realizable Value. Not only do we create acronyms, we create them to further confuse a (usually) stupidly confusing subject in the first place.

I flipped through the file I’m currently working in and found the following in 5 minutes:
AJE: Adjusting Journal Entries
RJE: Reclassifying Journal Entries
CTB: Client Trial Balance &/or Consolidated Trial Balance
WIP: Work In Process
NRV: Net Realizable Value
CoGS: Cost of Goods Sold
NI: Net Income
TOR: Turn Over Ratio
EBIDTA: Earnings Before Interest, Depreciation, Taxes, Amortization

If it were up to me, I’d restrict the usage and come up with acronyms that reflect how we truly feel:
LMAOATCBS: Laughing My A** Off At This Client’s Bull Sh**
WFC: Who ****ing Cares
DIAB: D*** in a Box (…just because)
on 03 Feb 2009 at 2:11 pm21FB4

DODR – Do it Over and Do it Right
(best left as a review comment on a first-year’s work)
on 03 Feb 2009 at 3:33 pm22CYA

The most fun to explain during QCPR (Quality Control Peer Review) are:
AR/PFR – Appears Reasonable/Pass Further Review
WAG – Wild A$$ Guess
on 03 Feb 2009 at 6:08 pm23Workin at 8pm

CAKE. Cummulative Audit Knowledge and Experience.
No further work required, per CAKE.

Not to mention the Mystical FSDCL, the financial statement disclosure checklist. And yes, it is pronounced such that it rhymes with Mystical. I think this is w/o/e the weirdest.
on 04 Feb 2009 at 11:57 am24Speed

POA – developed this one for a client, who when we asked him how he came up with a figure, admitted that he Pulled it Out of his Ass.
on 04 Feb 2009 at 12:01 pm25FUBAR

FUBAR = F***** Up Beyond All Recognition
on 04 Feb 2009 at 1:46 pm26Big 4 sux

^ Love the FUBAR. Accountants like to adopt military acronyms like this for our use “in the trenches.” like:

SNAFU: Situation Normal, All F***ed Up
TARFU: Things Are Really F***ed Up
SWAG: Scientific Wild Ass Guess

All have roots in military jargon. Speaking of, I would like to officially add “REMF” to accounting jargon. Means “Rear Echelon Mother F***er.” Refers to supporting officers who are safely away from the danger. Like Generals. I want to call Partners REMFs. Do it.
on 04 Feb 2009 at 3:02 pm27olddivot

FNG – the new guy
on 05 Feb 2009 at 7:33 am28jon

DILIGAF- Does It Look Like I Give A Fuck
on 05 Feb 2009 at 8:29 am29Jill

NFR: Not Fucking Right
on 05 Feb 2009 at 11:04 am30butterflygirl

My firm generally doesn’t use normal acronyms in our workpapers. Instead, we refer to everything (including items that have standard acronyms) by the step number in our two audit programs (for profit & ERISA). I personally hate it when they change the step numbers. So just to name a few prime examples:
ERISA = 401k, pension, ESOP plan audits; officially, Employee Retirement Income Security Act of 1974
104 = FS = financial statements
200 = TB = trial balance
325 = materiality
8101.10e = contributions workpaper
….and on the list goes. (Frankly, the acronyms would be easier to learn than our random list of step numbers.)
on 05 Feb 2009 at 1:19 pm31GFY

GFY = Good for you or Go F*** yourself.
on 05 Feb 2009 at 2:58 pm32a recent escapee

What about PURE– Previously Unrecorded Recruiting Error
on 06 Feb 2009 at 7:15 am33CPA

A few of my favs…

AG – Audit Girls
PPA – Prior Period Adjustment
HC – Handicapped bathroom stall (larger than regualr stall)
PYTR – Prior year tax return
BD – Business Development charge code (when u are non-billable)
GFR – Go File Room
on 06 Feb 2009 at 9:37 am34Tu Madre

RTFWP – Read the F***ing Work Paper (typically responding to a manager that leaves stupid notes, and rarely actually sent on)
on 06 Feb 2009 at 12:07 pm35n8

FTD = F*cking Tax Department
on 06 Feb 2009 at 12:56 pm36Pam

SMALY = Same mistakes as last year
S/B = should be
on 06 Feb 2009 at 3:31 pm37Nicole Morgan

I’ve thought about making t-shirts that say: I live and breathe SLQ (same as last quarter) , SALY (same as last year), and MICOR (make it come out right) and do it all in a JIFT (just in f/n time)basis…
But that would just be plain stupid, really…
on 06 Feb 2009 at 7:05 pm38Jake

“TMI… Too much information. I used to say ‘don’t go there’, but that’s lame.” -Michael Scott- (the dundies episode)
on 07 Feb 2009 at 11:04 pm39Out for busy season

WTF = What The F*** ?!?
Review comment often left on first year’s workpapers
on 07 Feb 2009 at 11:19 pm40ISM

NSFW
on 08 Feb 2009 at 9:22 am41Workcamp #2

NFWCN – no further work considered necessary
on 08 Feb 2009 at 1:34 pm42Nuinitari

T&A – traced & agreed
on 08 Feb 2009 at 1:59 pm43Angela

Used often in IM conversations:
TWSS – That’s what she said
TBTT – Too Busy to Talk
on 08 Feb 2009 at 7:31 pm44we are all so lame

I was told that SALY doesn’t work here anymore…
on 10 Feb 2009 at 5:57 am45Big 4

E&Y , PWC , D&T , KPMG

f/i/w – Further Investigation Waived
on 10 Feb 2009 at 10:12 am46Finally have a lunch break

PYF – prior year fiscal
PYE – prior year excise
W/S – wash sales
QBOE – qualified board or exchange
on 10 Feb 2009 at 11:01 am47Drone

EBITDA – Earnings Before I Trick the Dumb Auditors
on 10 Feb 2009 at 7:35 pm48Workcamp #2

I would love to see a write up on “Plugs”. We accountants love our plugs especially after a 14 hour work day.
on 10 Feb 2009 at 8:30 pm49Escapee

Similar to CYA…
JIC – Just in Case
SNU – S*** Not Used
on 10 Feb 2009 at 9:48 pm50Sad but true

FISEWDIL – F**K It, Someone Else Will Do It Later
on 11 Feb 2009 at 12:11 pm51ByBook

WTFE = WTF Ever
TAR = That Ain’t Right
on 11 Feb 2009 at 7:26 pm52bob from accounting

lldcb = late lunch, don’t come back
on 13 Feb 2009 at 12:29 am53Working at Midnight

Showing my age with with one: PA – Paper A$$hole, aka paper reinforcements
imm – immaterial
PD – Practice Development (the codes that happy hours are run through)
on 13 Feb 2009 at 3:22 pm54First Year's Rock

p/f/i = pass/f***/it
on 13 Feb 2009 at 3:27 pm55Drone #69

w/s/s = what/she/said
on 13 Feb 2009 at 5:07 pm56Staff

This year, my firm developed a new spreadsheet that is a tool that tracks financial ratios for our clients. We call it the:

Financial Analysis Ratio Tool (FART)
on 13 Feb 2009 at 5:16 pm57Staff

CWS = Clint’s Work Schedule. Corporate Tax Senior who decided to take off on September 14 to Vegas without getting approval…..
on 19 Feb 2009 at 6:44 am58BH Overseas

PURE = Previously Unrecognized Recruiting Error. Anyone have one of them working on your jobs?
on 19 Feb 2009 at 7:48 am59Overseas 2

LAF – Lazy Ass F*cker….related to PURE
on 19 Feb 2009 at 8:12 pm60Auditor

In regards to Software Revenue Recognition SOP 97-2:
RTFC – Read the Full Contract
RTFC – Read the Final Contract
And when it’s late at night and you’re still reading contracts…
RTFC – Read the F*cking Contract
on 20 Feb 2009 at 5:55 pm61Jen the Intern

How about where to eat lunch? What’s for dinner? This is the topic daily especially when we order food in.
on 26 Feb 2009 at 8:26 am62Out of There

WAPOS – What A Piece of S***!
Review comment for staff workpapers.
on 28 Feb 2009 at 11:33 am63CAKE

CAKE: Cummulative Audit Knowledge & Experience
on 05 Mar 2009 at 8:44 am64Billing rate too high

DBR – Done by reviewer since the prep f-d up the budget
on 06 Mar 2009 at 4:17 pm65One more Round

PDOOMA– Pull Directly Out Of My A$$
on 11 Mar 2009 at 7:59 pm66Stinkie

NM, NCNTPF = Not material, not considered necessary to pursue further
on 13 Mar 2009 at 6:45 am67Who Knows

WITTB – What it takes to balance
on 13 Mar 2009 at 12:24 pm68djed

FNTB = figure needed to balance
on 14 Mar 2009 at 6:26 am69lil bit

SWP (“swoop”) – Superceded Workpaper; similar to CYA
on 17 Mar 2009 at 9:15 am70D&T

GROTS = Get Rid of This Sh*t
Term used to define client-provided support that is required to be shredded at the end of every audit engagement.
Example of use:
“Put that stuff in your GROTS box”
“I lost my GROTS”
on 20 Mar 2009 at 10:35 am71JW

SS- Sh*t show
on 20 Mar 2009 at 5:53 pm72top ten tax

CYOA – cover your own ass (“your” is NOT referring to the collective plural – this is an individual sport)
CPA – cut, paste and attach
and my favorite research memo… “per XXX, pass” (insert partner’s/manager’s initials here)
on 22 Mar 2009 at 2:37 pm73Gatornaught

Have you met SALY’s evil cousin WALY…Wrong as Last Year
on 24 Mar 2009 at 1:01 pm74Taco Hammer

SCTW – Shit Can This Workpaper
on 25 Mar 2009 at 8:08 am75anon

FITI – F*ck it, tick it
on 26 Mar 2009 at 10:46 am76audit-ess

Nobody mentioned the SURL…(rhymes w/ Earl)…Search for Unrecorded Liabilities
on 29 Mar 2009 at 9:02 am77Jim

FML: Best summed up by a late night discussion between two auditors:

Auditor 1: “Hey what time is it?”

Auditor 2: “12:40, why do you ask?”

Auditor 1: “FML.”
on 31 Mar 2009 at 12:35 pm78Leslie

TLAR = that looks about right
on 07 Apr 2009 at 7:11 am79big 4 who

My favorite… and ID 10 T error (idiot)
on 08 Apr 2009 at 2:49 pm80Accounting4Life

ARF:
Accounting Review Form

ITCWYE:

Is This consistent with your expectations?

CA:

Call Janky
on 14 Apr 2009 at 6:32 pm81Anon2

… What about the giant question mark?
on 17 Apr 2009 at 4:41 am82BFA

w/n/m/e/n/ with no material exception noted
on 22 Apr 2009 at 12:40 pm83Same As it Ever Was

LGNW – Looks Good No Worries
on 23 Apr 2009 at 10:13 am84Big 4 no more

OTP – on the phone
ERP – engagement revenue percentage
AABS
My least favorite – PDW – per discussion with – in other words, I’m a conversational auditor and I don’t want to take the time to find out if this is true.
on 25 Apr 2009 at 7:01 am85auditor

Fresh grads are told their primary responsibilities are CCCD
(photo)Copy
Cast
Call
Delivery
on 27 Apr 2009 at 12:37 pm86EW

HB – Honey Brown
on 28 Apr 2009 at 10:31 am87Dano

NSNSNP: No shirt, no shoes, no problem.
on 06 May 2009 at 10:55 pm88Palatino Linotype

A few years ago, required workpapers from an unnamed Big 4 firm (you know who you are):

BUD: Business Understanding Document (there used to be two BUDs, which were described as BUD 1 and BUD 2).
RAD: Risk Analysis Document
PAD: Process Analysis Document
SIDD: Significant Issues and Decisions Document
Etc.

You can imagine the conversations:
Have you finished the RAD yet?
No, I’ve been working on BUD 2.
on 28 May 2009 at 7:45 pm89lookbackatit

FIDO–F*ck it, drive on
pfa–pass further analysis
SYN file–save your neck file
on 24 Jun 2009 at 6:07 am90CB

A personal favorite of mine…
PDW – Per discussion with
Often used to throw someone under the bus.
on 15 Jul 2009 at 8:00 am91Yeti

During recruiting events – as written on the evals:
CI – Continued Interest
NFI – No further interest
and the one I sparked off: NFW – No F’ing Way
on 22 Jul 2009 at 7:15 pm92Beancounter

PURE – Previously Undetected Recruitment Error
hands down.
on 26 Jul 2009 at 3:10 am93Passing the week | taxguy

[...] new tax or related blogs. That is how I came across STUFF ACCOUNTANTS LIKE by pfi and the post “Acronyms, What are Your Favorites?”. I have always been a big user of acronyms. Clients and readers of TWTP are aware that GDE is [...]
on 30 Jul 2009 at 5:08 pm94Tax Season dropout

I have to admit that now that I don’t have inventory to deal with I can’t shake LIFO and FIFO which I use as euphomisms for puking (last in fist out – think about it) and diarrhea (FIFO)
on 06 Aug 2009 at 9:45 pm95Oh Taxes

NFNY: Note for next year (maybe then we will do it right if this note isn’t burried)
on 07 Aug 2009 at 11:37 am96Leslie

ATTA – afraid to throw away
on 09 Aug 2009 at 6:01 am97R

SDI – System Does It
on 12 Aug 2009 at 11:57 am98Maria

MIGA: Make it go away (from Seniors to Associates)
SIUTR: Sweep it under the rug (this is mostly a joke)
on 27 Aug 2009 at 12:31 am99M to the K

My favourites:

FISH (an inventory flow method) – first in, still here
Code 8 – the object sitting 8 inches in front of the computer is causing the IT screwup
on 24 Sep 2009 at 9:05 am100FMLImAnAuditor

Mean things we stay at the office:
FA- Fat Ass!
FML- F@#$ My Life
BOMM – Board Out My Mind
Troll – Ugly Chick
FT – F$^%ing Ugly Chick
The Devil – VP of our department
Doors – Managers and above
Tea – Coffee break and gossiping in the breakroom 3 pm everyday
on 16 Oct 2009 at 11:28 am101Rick

Tax department:

TSWAC – Tough S***, write a check.
on 16 Oct 2009 at 3:00 pm102Skittles

SHIT- Shareholder In Training
on 07 Nov 2009 at 11:07 pm103arete84

DFQ – Dumb F*cking Query
on 12 Nov 2009 at 9:15 am104amanda

CF – Cluster F**k
on 01 Dec 2009 at 7:15 am105Vinod Kumar

I can explain more acronyms like NGO = non govt. organisation

and INGO = international non govt. organisation

, BONGO = business oriented non govt. organisation
on 17 Dec 2009 at 9:11 pm106Phatpurple147

CAPEX – Capital Expenditures
OCBOA- Other Comprehensive basis of Accounting
on 07 Jan 2010 at 4:52 pm107auditor

Can you have your CAKE and eat it too?
on 26 Jan 2010 at 11:19 pm108Rudiger

we put WGAF next to small differences. it stands for Who Gives A F**k. to which the reviewing senior would respond “I don’t.”
on 27 Jan 2010 at 10:18 pm109Xtina

PIOOMA – Pulled it out of my a$$
on 28 Feb 2010 at 1:08 pm110Cal Culator

WITTB (What it takes to Balance)
NFC (No fu**ing clue)
on 01 Mar 2010 at 9:26 am111Mat

FINCN – F#&* it, not considered necessary.
on 21 May 2010 at 8:05 am112Old Lady

My first year told me our senior was wearing GP….

granny panties.
on 03 Jun 2010 at 2:34 am113raquo Autos

There seems to, There seems to?There seems to, There seems to.There seems to, There seems to.There seems to raquo Autos, There seems to There seems to.There seems to, There seems to.,
on 10 Jun 2010 at 7:20 pm114John P.

CARINBIG!
on 12 Jun 2010 at 7:49 pm115Cody

My favorites from my days as a Big 4 audit intern:

WFP = waive further pursuit
w/o/e = without exception
CWPY = consistent with prior year
TGIF = thank God it foots (not in the wps. but something I’d always think to myself after adding a 50 page document)
wps. = workpapers

And finally, although not an abbreviation, I always liked the term “Appears reasonable,” which would invariably be followed by “WFP.”
on 21 Jul 2010 at 4:58 pm116Barbara

FAM it – Fancy Accounting Maneuvers
DTMS – Does That Make Sense
NC – No Clue
GR’d – Got Reviewed
on 05 Oct 2010 at 9:29 am117Kristin Nickells

EBITDA – I can’t believe all you accounting-types haven’t posted this one yet. I love this one. Earnings before interest, tax, depreciation, amoritzation. This falls under the category of ‘accountants are not boring people – they just get excited about boring things”.
on 16 Sep 2011 at 2:33 am118Accountant Sutherland

The reason for making too much acronyms is to do our job faster but yeah, in short, accountants are lazy on that matter to write the exact words again and again so its shortened. But its cool right?
on 22 Nov 2011 at 9:40 pm119bubs

if there’s PAJE (Proposed Adjusting Journal Entries), what does CAJE mean?
on 21 Feb 2012 at 1:35 am120wit

CAJE=Client Adjusting Journal Entry.
on 01 Sep 2012 at 8:13 pm121Auditing acroynms | Healthhopeandh

[...] 13 Acronyms, What are your favorites? – Stuff Accountants LikeFeb 2, 2009 … Instead, we refer to everything (including items that have standard acronyms) by the step number in our two audit programs (for profit & ERISA). [...]
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on 17 Oct 2013 at 12:48 am123Sokun

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Would you mind explaining the acronym of CAJE and PAJE in detail,

Thanks and Best Regards
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when you got enough comfort, you can write:
NFI = No further investigation
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#13 Acronyms, What are your favorites?

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