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(Accounting Manager) Our private company issued a 24-month convertible note for $5M with 8% simple annual interest. The outstanding principal and accrued interest are payable at maturity date. Prepayment is not allowed without the holder's consent. Upon a qualified financing, the outstanding...
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Melissa Rice
Title: Controller
Company: OPRS Services
(Controller at OPRS Services) I work for a private company which is having investors come in mid-month, however, the investment is really in the company that owns my company. For this reason, they want to keep track of everything at of the day of purchase and then close the month as usual. I wanted to...
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Robert Green
Title: Cofounder & COO
Company: Amina Health
(Cofounder & COO at Amina Health) I am building a financial model for my company right now. We are a medical device company, so regulatory approvals timing has the ability to dramatically effect when cashflows are expected to occur. I want to add an assumptions tab, where I will include "Months until reg...
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Matthew Dineen
Title: Controller
Company: N/A
(Controller at N/A) Hi All - I'm a controller of a privately held business with about 400 employees. I was recently hired - the previous controller was promoted to CFO when the old CFO retired. Both of them have been here for 25+ years. We have no internal controls to speak of and I want to...
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Tim Ahern
Title: Retired
Company: Retired
(Retired at Retired) Does a HOA management company need to provide the HOA an invoice to receive monthly fee, or can they simply withdraw the required amount?
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Kevin Michels
Title: Financial Planner
Company: Medicus Wealth Planning
(Financial Planner at Medicus Wealth Planning) I'm a fee-only financial advisor and a big part of what we do, in addition to investment management, is financial planning. We get deep into tax planning as well, at least compared to other financial advisors, and I constantly get asked by clients if we can prep their...
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Anonymous
(Senior Accounting Analyst) We entered into a revenue share agreement with a vendor in which we buy the product from them and then sell it. They are entitled to 50% of the revenue, which is then reduced by the cost of the product we purchased. Ex: we sell $40k of widgets for which we paid $5k for. We...
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Nick Tehrani
Title: Accounting Manager
Company: XYPRO
(Accounting Manager at XYPRO) Hello, I was wondering if anyone in Technology/Software Industry has implemented a new accounting system recently. My company is hoping to move on from QuickBooks due to our need for a new software that can consolidated including foreign entities and currencies, SalesForce...
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Anonymous
(Bookkeeper) Example: Accrued items
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Anonymous
(Controller/CFO) I always find it interesting the differing opinions you get when you have a bundle of Financial Professionals together with varying backgrounds and thought this scenario that came up during the instruction of a Minority Business Accelerator Class. Company A is an LLC...
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Anonymous
(Company Accountant) I am finishing a partnership for the first time in my life. I don't know what I should do. I plan to do a financial statements and lodge final tax return, lodge my last BAS and cancel ABN. Is it all? Do I have to prepare any documents saying that one of the partner decides...
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anonymous person
Title: Associate
Company: Accounting Firm
(Associate at Accounting Firm) I am starting in audit soon and I am just wondering the mechanics of an audit in regards to a parent and sub. if a company buys another and they have different auditors, would the auditor of the parent normally take control of the audit of the sub also or would they keep...
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Aleksandra Myja
Title: Junior Financial Controller
Company: Fresenius Kabi SSC Poland
(Junior Financial Controller at Fresenius Kabi SSC Poland) How to book a deferred tax in IFRS and in the local statutory in case of a different result in the books? How can I match one result to another? Thank you in advance
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Anonymous
(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 see the general running of the office instead, as I have been with the business since it...
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Andrew K
Title: Director of Tax and Accounting
Company: Silver Leaf
(Director of Tax and Accounting at Silver Leaf) I had someone approach my firm and ask to help them file past tax returns. This client has not filed since 2008, and it appears he may owe taxes between 2008-2012 (he withdrew early from an IRA to put funds into a dying side business). I've agreed to help him file these...
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Anonymous
(Tax Exexutive) We are in Hotel business located in India and a tax resident in India. Any service rendered to guests would be performed in India. One of the US company has agreed to hold conference in India with its Indian partners. As per contract they are supposed to make a deposit (as...
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Anonymous
(Research Analyst) Recently took a financial modeling test as part of an interview process. The test was a three statement financial model in Excel with certain cells left blank which had to be filled in with the proper formulas. One of them was a cell for "Net Receivables" on the balance...
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Greeting, we are in fixed assets verification. we need to choose vendor for it, can anyone advice what shall be technical criteria in order to choose vendor. thanks in advance.
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(Lead strategist) So I have a few years business and personal of tax filings to catch up on. I just found out that interest paid on business purchases is deductible, even if you use a personal card. May issue is that I have been really bad about using one payment method. Is there a way...
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(Artist) Hello, I am an artist and own a small business where I am the only employee. I'm looking to purchase a truck or SUV to be used 100% for business. I will use it to deliver paintings, transport my booth and art to the art fairs and take it into the woods to get to areas i...