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Old outstanding credits on Accounts Receivable

Our company has about $24,000 worth of old credits that are sitting in the over 120 day column on our accounts receivable. We would like to clean up these old credits, but not sure whe...
60 Views | 1 Answers/Comments

effect on accounting

kivi poteat
Title: staff accountant
Company: 1982
(staff accountant at 1982)
I am a recent graduate and a staff accountant at a new car dealership. I noticed to day that the parts department is debiting purchase discounts to pad their inventory. I believe th...
56 Views | 1 Answers/Comments

What is my job title ?

(accounts assisstant)
I recently started a job as a admin/accounts assistant in a new accounting firm, however as the months have passed they have decided to hire a few more bookkeepers and have me over se...
35 Views | 0 Answers/Comments

Do I have to report earnings of an Israeli subcontractor to Israeli taxing authority or anyone else?

I have a contract to deliver educational services in Turkey. I will provide services, in country, with US citizens and an Israeli individual. In the US, all of the services are recorded...
26 Views | 0 Answers/Comments

Took on too much tax work- what do I do?

I own a niche tax practice and took on too much work this year. I've been working 90 hours/week and still don't think I'm going to be able to finish by the deadline. I'm still new (2nd ...
355 Views | 1 Answers/Comments

Payment posted to AR but deposited in the following month, how to treat?

Title: Accounting Manager
Company: MCS
(Accounting Manager at MCS)
Hello, I have a scenario where payments were posted to AR at the end of the month but payments were not deposited until the following month. In order for AR Aging to balance to GL I ...
61 Views | 1 Answers/Comments

SEP IRA Balance in Quickbooks

So I had a sole proprietor and was making SEP IRA contributions, but everything was run through my personal account.  I switched to an s-corp.  Do I need to 'transfer' the balance of ...
44 Views | 0 Answers/Comments

Interest expense causing imbalance

Arl Boyd
Title: Owner
Company: Frozen Yogurt
(Owner at Frozen Yogurt)
I am sure it is an easy answer but I just can't figure out what i am missing? Thank you! Trial Balance Notes Payable ($9,800) Interest expense $100 Cash $9,700 ...
105 Views | 3 Answers/Comments

Inventory Supplies Policy

(Corporate Controller)
Hello, I'm new to this forum and have a question about how those of you in manufacturing or other similar industries treat your inventory policy for materials and supplies. I'm relat...
1708 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?

10660 Views | 13 Answers/Comments

Debt Matching

Ravi Ramcharan
Title: CFO
Company: self
(CFO at self)
Hello All, I would like to ask a question about debt matching. Finance theory would say match long term debt with long term assets (building, plant etc) and short term debt with shor...
62 Views | 0 Answers/Comments

How do big tech companies conclude that internal use software development is expensed, not capitalized?

Tech companies such as Google, Facebook, Snap, Amazon, Spotify, Dropbox, Box, Pinterest, Lyft state in their 10k that software development costs are immaterial, so they expense and don'...
69 Views | 0 Answers/Comments

how to recognize termination benefits (commitment fees) under these special conditions?

(AR Accountant)
A company offering its service to clients by time-specified contract and non-time-specified contracts. if that service cancelled either as a result of client asking or; accumulation of...
32 Views | 0 Answers/Comments

Getting back into the game

Laura Gray
Title: Tax Preparer
Company: Self-Employed
(Tax Preparer at Self-Employed)
I currently own my own tax business due to taking it over when my mother in law passed away last year. However, my background is Accounting, including I have my Masters in Accounting. ...
30 Views | 0 Answers/Comments

Financial Risk Management as a Source of Competitive Advantage

Alexander Haigh
Title: Treasury Consultant
Company: Validus Risk Management Ltd.
(Treasury Consultant at Validus Risk Management Ltd.)
  The traditional view of financial risk management, especially in non-financial businesses, is that it is a necessary but non-core activity, playing a supporting role to the &lsq...
1822 Views | 1 Answers/Comments

Bitcoin transaction reporting

Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)
  A growing number of individuals and businesses own bitcoin or use it for transactions (perhaps with a third party actually handling the bitcoin to cash exchange).  So...
3309 Views | 5 Answers/Comments

does these ai impact enterprises using cognos technology

gautham kumar
Title: cognos
Company: onlineitguru
(cognos at onlineitguru)
IBM reports updates Cognos analytics with automationIBM updates with Cognos analytics and its business intelligence with the best automation and self-service analytics toward smart anal...
576 Views | 0 Answers/Comments

PayPal Isn’t a Bank, But It May Be the New Face of Banking

Wayne Spivak
Title: President & CFO
LinkedIn Profile
(President & CFO at
According to a WSJ article: "By some measures, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. What does that say about the future of banking? At the ...
2108 Views | 2 Answers/Comments

Outsourcing Your Accounting Services can Make Your Business Better

Blair Illiano
Title: N/A
Company: N/A
(N/A at N/A)
Running your own in-house accounting services may have worked well for your business so far, but if you’re looking to cut some costs and save some money, then outsourcing your acc...
25775 Views | 4 Answers/Comments

Foreign tax credit question

cam johnson
Title: owner
Company: prop
(owner at prop)
The foreign tax credit cannot be more than your total U.S. tax multiplied by the fraction of taxable income from foreign sources. Since I have some U.S. income, it's not possible for th...
50 Views | 2 Answers/Comments

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