Technical Accounting

Anonymous Member
Anonymous
(Controller/Finance Manager)
Does accrual of partner's (LLC-member) min tax distributions (not guaranteed payments like salaries) make sense and is a better alternative in some specific cases to a common...
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Judy Gardner
()
Company had fixed asset vehicle that was wrecked and totaled by insurance company. Received payment that was equal to book value. Do I debit Accumulated Depreciation and credit fixed...
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Carla Salazar
(CFO at Crafts Americana)
We currently use Great Plains version 10. It served us well but would like a package built on new technology, on the cloud, reliable and secure. At this point I would like to replace...
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Katherine Gledhill
(SVP of Finance at Magnet Media, Inc.)
In a liquidating event, how is the equity related to the strike price of exercised options distributed? Does it get allocated to the existing shareholders based on the non-diluted...
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JUDY BROWN
(CFO at FAMILY ARK)
We had a capital campaign drive. Employee who pledged an amount has resigned and rescinded their pledge.
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Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)
  Revenue magic! H.R. 1891 (114th Congress), the African Growth and Opportunity Act Extension and Enhancement Act of 2015, sponsored by Congressman Paul Ryan, extends...
Anonymous Member
Anonymous
(VP of finance & Ops)
When the money was received for the pledge cash was debited and revenue was credited, the pledge was never booked.
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Anonymous

Just wondering how many companies do Inventory roll-forward perpetual inventory as part of their inventory close process.  , vs, just pulling perpetual records comparing to the...
Anonymous Member
Anonymous
(Financial Manager)
I have a quick question regarding charitable donations to a 501c3 organization. We are a Church who has two large ministries under the same tax id as the Church. If someone wanted to...
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Randall Bolten
Title: CEO
Company: Lucidity
(CEO at Lucidity)
Happy April 15th! In the last post, we discussed a problem related to health insurance subsidies under the Affordable Care Act (ACA) caused by the legislation’s failure to...
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Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)
  The Premium Tax Credit (PTC) for individuals who purchased health insurance on the Exchange (Marketplace) is an important tax break.  As income goes up, this subsidy in...
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Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)
  Gambling winnings are taxable - include them on line 21 of Form 1040 as other income. You can only deduct your gambling losses if you itemize your deductions (Schedule A)....
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Cielo I.
(Sr. Accounting Manager at ABX)
As per the company policy assets are depreciated using the straightline method and depreciated in service date. However, in the JDE system we used straightline but have two...
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Neil Brown
(CFO & CIO at KatalystFP)
We have been paying a company to add new custom features to our business process system. Do we have to capitalize it all? Can we expense some of it? Any suggestions would be helpful.
Anonymous Member
Anonymous
(Director of Finance)
I'm looking for a written template of a Capitalization/Fixed Asset Policy that anyone would be willing to share. Thanks.
Anonymous Member
Anonymous
(Co-CEO)
15 years ago, in the United States, there was a push to simplify the tax code. One option was to charge a flat rate for all incomes and to eliminate all deductions. Another was to...
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Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)
  I was shocked by the March 13, 2015 IRS release warning individuals to chose their tax professional carefully. The IRS found that some "unscrupulous preparers"...
Anonymous Member
Anonymous
(Financial Manager)
We are a church that oversees, as part of its complete ministry, a sending Mission Board. This Mission Board is set up to support missionaries administratively and manage their support...
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John Erickson
(Owner at iStrat Systems, LLC)
Looking for some good examples for acquisitions -- ideally template/worksheets for Internet Subscription/Re-Occurring Revenue Models .... Thanks, John E ...
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Eleanor Sia
(Accounting Manager at Cityloan)
We are doing business in several states. The most recent, Ohio, has a lot of state licensing costs to do business in that state, including legal costs from our lawyers. Can we...