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All Corporate Finance, Accounting & Other Topics On Proformative

Anonymous Member
Anonymous
(VP, Finance) We are a Marketing firm using accrual method accounting to record revenue on a completed contract basis. We would like to switch to percentage of completion so we completed a 3115 citing Section 460 as our support. The IRS returned the form saying we can't cite Section 460...
Marina Kovalev, CPA
Title: Owner CPA
Company: Accounting firm owner
(Owner CPA at Accounting firm owner) I’m launching a blog/ YouTube channel in 3 weeks that will have various topics for accountants about how to start your own accounting business. It will cover things like software, what you just know, sales, etc. Are there any topics that those that want to go out on their...
Anonymous Member
Anonymous
(Consultant) Hello, I am unclear on how to handle tax accounting and journal entries under the following scenario. The company ordered a business computer from a retailer in December 2017 and received an invoice. The computer was shipped and delivered in January 2018, and the retailer...
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Jm C
Title: NA
Company: NA
(NA at NA) I am a California CPA (inactive) considering starting my own practice. My background is Big 6 audit experience (lol dating myself there, aren’t I?), and several years of industry experience in accounting, finance and project management. I left to stay home with kids,...
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Karen Dillon
Title: Payroll lManager
Company: JPMS
(Payroll lManager at JPMS) Does your company use Paylocity for annual salary input at a supervisor level? Escalating the change to the next level supervisor for approval? If so, does this work for you? We are having issues with this working. We currently have a supervisor and reviewer (next level...
Anonymous Member
Anonymous
(Principal) It is great that our profession says we are not allowed to commit fraud. I was recently fired because I refused to fraudulently charge out a grant. I now have no references. I am forced to sue them and spend a significant amount of money to do so but I feel like the victim...
Anonymous Member
Anonymous
(Controller) For those of you who are CFOs or have interviewed candidates for the CFO position, what was the hiring process like? I am currently interviewing for a CFO position through a recruiter. The first interview was 1.5 hours long with the owner of the company, and the second (and...
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Patrick Ugbechie
Title: Accountant
Company: D.Whyte Services Ltd
(Accountant at D.Whyte Services Ltd) Hello, Right now I am in a hot seat. I got this new job in a Marine Logistics Company. Since 2010, the company have been practicing single entry system using excel as a software. Now my first assignment is to migrate the whole accounting system to Peachtree Accounting...
Anonymous Member
Anonymous
(Internal Audit Manager) Hello, I want to set up some trainings for the accounting department I work in. The CFO and myself are the only two CPA's, so we want to put on basic accounting classes for the group. We are not looking to distribute any CPE's, but rather take a simple topic (such as new...
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Jeremy Slaughter
Title: VP, Corporate Finance
Company: The CORE Group, Inc.
LinkedIn Profile
(VP, Corporate Finance at The CORE Group, Inc.) Our team has been on an a journey of innovation. We are closing regularly and consistently to an Excel closing checklist, but I suspect there is room for additional improvement. Most of our close is completed by the 8th work day. Timing of available information is the...
Anonymous Member
Anonymous
Besides your own personal network, what is the best way to get investors for a startup?
Anonymous Member
Anonymous
(Strategic program manager) Hi, My company does a lot of work with universities and research institutions. I am helping out with the accounting for this. As an example, we have a contract for $120K for a 12 month period, even recognition. If after month 6, where we already recognized 60K in cost, we...
Anonymous Member
Anonymous
(Marketing) I see all the lists of CPA's divided by state, but it is hard to tell which certifications are the most recent. Is there a way to get a list of all the CPA's who have passed the last CPA test or the ones within the last year?
Anonymous Member
Anonymous
(president) is it possible not to have to calculate basis for a primary residence sale? acct thinks that all such sales must, without exception, calculate basis and report any non-excluded capital gain but in very rare scenario, would be better to report as ordinary income if allowed...
Anonymous Member
Anonymous
(Director of Finance) I just received some bills this current fiscal year that were from an event last fiscal year. I do not want to restate my prior financials. Can I just set up an account titled prior period expenses and post them this current fiscal year?
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Dave Hartung
Title: Engineer
Company: Will tell you later
(Engineer at Will tell you later) I'm an engineer but I'm getting my MBA so I've started sticking my head in places it doesn't belong. I have a question regarding cash discounts. Say I buy something for $1000, I receive it, it gets invoiced and paid. The payment terms are 2/10 net 60. We pay within 10 days...
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Michael Jian
Title: Country CFO
Company: Huawei Technologies Co.,Ltd
(Country CFO at Huawei Technologies Co.,Ltd) CMA certification has been getting more popular in China. Some say management accountant consulting would be promising. However, it seems to me that rare consultants engage their jobs as management accountant. Finance management is quite common. How is it going in your...
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Qasim Dosani
Title: Assurance Supervisor
Company: PricewaterhouseCoopers (PwC)
(Assurance Supervisor at PricewaterhouseCoopers (PwC)) Can you specify the differences between "Internal Rate of Return" and "Effective Interest Rate"?
Anonymous Member
Anonymous
(Director of Finance) I just found out about some expenses that were really for last fiscal year and I do not want to adjust my last fiscal year books so what is the best way to account for these expenses in my current year?
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A. Chawla
Title: Student
Company: N.A
(Student at N.A) Manufacturing Companies and Auto Companies like Ford Motors have captive finance subsidiary to finance their customers and dealers to enhance sales. In the Financial Statements, sales (interest earned and accruing on finance receivables)  and expenses ( overheads and...