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Q&A Forum

Recording cancelled prepaid service contract for which we received full refund.

I'm the treasurer for a small non-profit. I'm sorry, but I just cannot figure out the adjusting journal entries for the following scenario. We do not use a payable account - our pur...
28 Views | 2 Answers/Comments

IT Capitalisation Query: Software capability

Greg Hay
Title: Senior Management Accountant
Company: TBC
(Senior Management Accountant at TBC)
Hi, I'm hoping you can help me with how I should be treating a IT invoice with regards to capitalisation treatment. We utilise a software programme to manage various parts of our ...
10 Views | 0 Answers/Comments

Making Excel Forecasting Simple

(Division Finance Manager)
I have Excel as my only source for forecasting and have been tasked with making it less detailed and simpler to use and follow. The challenge is that our industry is very direct labor ...
15 Views | 0 Answers/Comments

What is the worst interview question you have been asked or asked during an interview?

Ernie Humphrey CTP
Title: CEO & COO
Company: Treasury Careers
LinkedIn Profile
(CEO & COO at Treasury Careers)
I saw an article on this topic on LinkedIn and thought it would great to get some comments from the Proformative Community. From my own experience, I was asked "if you could give o...
5938 Views | 25 Answers/Comments

best answer to interview question. What did I like most about my sales position?

Chantell Soileau
Title: sales
Company: flooring direct
(sales at flooring direct)
17 Views | 0 Answers/Comments

Is it just me?

Title: Senior Controller
Company: SO Corner Prop Mgmt
(Senior Controller at SO Corner Prop Mgmt)
Hi Everyone, Last year in February 2017, I saw a wire transfer to a dealership in Santa Monica. The wire description mentioned one of my staff's name. The wire was sent by one of our...
71 Views | 2 Answers/Comments

Accounting for Purchase and Subsequent Rent-Back of Depreciable Assets

(Senior Financial Analyst)
Hello, All! I am trying to determine the proper way to account for the following scenarios in a new business: Scenario 1:  a) We purchase several thousand depreciable assets off of ...
18 Views | 0 Answers/Comments

Determining theft

Stacy Huffmon
Title: Manager
Company: Fast Entertainment LLC
(Manager at Fast Entertainment LLC)
I have a really bad feeling that I had employee's stealing from one of our restaurants by writing up sales tickets, acquiring the money and then never officially ringing the sale up in ...
117 Views | 3 Answers/Comments

Common Stock Question

(Senior Accountant)
Hello, I was hoping to get some insight from the knowledgeable accountants ..I am new to common/preferred stock options...This is currently at our company and I am not sure how to reco...
23 Views | 0 Answers/Comments

Audio Visual Departments

We currently have an audio visual department who reports into operations and an IT department that reports into finance (CFO). This was fine a few years ago when the AV hardware requir...
56 Views | 1 Answers/Comments

Gathering Vendors ACH info

Elvin Avdalli
Title: AP Director
Company: BTQ financial
(AP Director at BTQ financial)
Accounts Payable - The company I work for is trying to get all the vendors to accept ACH payments instead of checks. We do not have enough staff resources to call each vendor and reque...
60 Views | 2 Answers/Comments

Capitalize vs Expense: Portable bathrooms in lieu of Bathrooms under Construction

Can someone point me to the guidance for capitalized costs incurred in the demolition and reconstruction of Office Bathrooms with respect to renting portable toilets? The demolition and...
67 Views | 3 Answers/Comments

Capitalisation of slow moving spares

Please what's the IFRS treatment for slow moving spares after some years eg 2years... Should it be capitalised?
72 Views | 1 Answers/Comments

Where does bad debt expense show up on the Statement of changes in Net Assets - Non Profit accounting Fund accounting

Jacalyn Assink
Title: Director Foundation Accounting
Company: Dignity Health
(Director Foundation Accounting at Dignity Health)
We are recording an allowance for bad debt. We debit bad debt expense and credit a contra Revenue Account. I an finding that we are rolling the bad debt expense into Contribution Re...
59 Views | 2 Answers/Comments

Putting PTO hours back

Demetra Guillory
Title: Medical assistant
Company: Cy-Pain and Spine
(Medical assistant at Cy-Pain and Spine)
Is it legal to put PTO hours back that are used just to avoid regular pay overtime?
28 Views | 0 Answers/Comments

Escrow Account

We (US based entity) need to open an escrow account in either Hong Kong or the UK. Is it possible to open one without physically going there? Service providers? Anyone has any experi...
29 Views | 0 Answers/Comments

how to avoid being Whipsawn on Quickbooks versions

Eric Anderson
Title: President
Company: Techon, Inc
(President at Techon, Inc)
Is there a way to enable older (2014 Quickbooks) to allow download of a bank register? I switched to online Simplestart. It now does not have a Purchase order feature (it has been con...
64 Views | 1 Answers/Comments

How do I find the right outsourcing company for my accounting needs?

Roger Frederick
Title: CFO
Company: Private
(CFO at Private)

I have a small consulting business. What are some things that I should look at? Experience? Cost? What else?

4545 Views | 11 Answers/Comments

I am a executive of a specialty distribution business, in a effort to pass on additional handling costs we credit sales 3% then adjust inventory as needed. Proper policy?

Victor Barringer
Title: CEO
Company: AWP Wood Products
(CEO at AWP Wood Products)
50 Views | 2 Answers/Comments

MD designation on Healthcare Finance Manager Job Resume'/application

(Financial Analyst)
I need career advice from experts if I may. BACKGROUND: I came to USA as an MD and was not able to get into medical residency to pursue my career as an MD. I decided to go into the ...
308 Views | 3 Answers/Comments

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