I get it, finally

This week pretty much concludes our year end audit (yesterday was the meeting with the audit committee and the day before was the meeting with the controller and CFO). I think I finally get Equity; reading all those FAS123R and FAS128 pronouncements actually makes sense to me. It's funny because these rules actually creates jobs. The person who basically runs the Equity section for the entire company spent the whole day answering our questions and updating her work because we found some deficiencies in here calculations, but were immaterial. For example, ESPP that has the policy to purchase on the lower of the first day or last day of the offering period should not calculate fair value based on the lower (it should be on the first day of the ESPP period). Even though I get the work, the team still sucks; lack of skilled managers makes the jobs a POS.