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Sadam Ubeidat
Title: Senior Accountant
Company: Mezzan Jordan Industries
(Senior Accountant at Mezzan Jordan Industries) Anyone know what is the correct treatment for Slotting, Shelf Rent, and listing fees under IFRS Is it should be sales & marketing expense, of reduction from Revenue
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Anonymous
(Accountant) Would you consider Supply Chain/Purchasing Wages to be indirect labor? I feel like the accounting principles are a bit grey in terms of what you can and cannot include within the costing of inventory.
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Anonymous
(Staff Auditor) By investment bank account received a management fee refund from one of my investments in July which I booked as a debit to the investment bank account and a credit to management fees. The investment releases statements on a quarterly basis. The investment includes the...
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Anonymous
(Vice President) We have a fleet vehicle leasing agreement with a TRAC (terminal rental adjustment clause), whereby at the end of the lease, the leased vehicle is sold. An expected residual value is stipulated at the beginning of the lease term. If the vehicle sells for less, we make up the...
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Anonymous
(Director of Finance and Operations) Proformative, A customer of ours has accrued Unbilled Receivables for work performed. I've been properly recognizing the Unbilled Receivables by: Debiting Unbilled Receivables Crediting Accrued Revenue However, I am ready to invoice the Customer (using Quickbooks). I would...
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Anonymous
(Principal) I have read $5k for a 409A valuation report with upwards of $30k...sub $20 million dollar SaaS company what can I expect to pay for a 409A valuation? Thanks
Margaret Carey (ACMA)
Title: Business Development
Company: Raida solutions
LinkedIn Profile
(Business Development at Raida solutions) The asset is IP. If option period is 10 years and transaction is capitalised, the entry will be dr. Asset, cr. Equity for each of the 10 years. If this us the case how would Amortisation work? Thanks, Margaret
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Ron Rochester
Title: Accounting Manager
Company: Trevian Soccer Club
(Accounting Manager at Trevian Soccer Club) A customer caused damage to my work facility and we received a settlement check from his insurance company. We haven't paid for repairs yet....what accounting entries should be done for this non-recurring incident?
Doug Sleeter
Title: President
Company: The Sleeter Group, Inc.
(President at The Sleeter Group, Inc.)   Intuit releases updates to supported versions of QuickBooks quite often, and this is the time of year when we seem to see a lot of updates. That means it is a good time to talk about fixing QuickBooks installation errors. Nothing warms the heart more than seeing...
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Anonymous
(Financial Analyst) Recently, we were directed to consult a professional valuer to conduct revaluation exercise for reporting purposes. More than 90% of our assets are received from donors as grants. How am I supposed to treat gain on revaluation of these assets? Is the gain credited to the...
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Anonymous
(Controller) I'm struggling with how to properly record periodic adjustments for a materials (pipe) inventory account. Pipe is purchased in bulk for line repairs and maintenance and in stored in various field locations, until needed. Pipe is also ordered for specific capital projects...
Member's Profile
Zulfiqar Ali
Title: Assistant Manager Receivables
Company: General Group
(Assistant Manager Receivables at General Group) Help is needed... I wanna know that what should be the proper timing of producing the invoice? 1. Once the supplies leave the factory premises? 2. Once the supplies are received by the customer?? Moreover, effect on credit limit, aging reports, unearned revenues and most...
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Joshua Bourquard
Title: Manager - Financial Reporting and Accoun..
Company: TPx Comm
(Manager - Financial Reporting and Accoun.. at TPx Comm) Hi everyone, I have a question regarding accounting for the legal payment made by a lessor to the company (lessee) to terminate a rental agreement of leased communication lines. The lessor would like to terminate the current operating lease agreement we have with them so...
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Anonymous
(Senior Internal Auditor) The company I work for has a site that manufactures chemicals in Latin America. To my knowledge there has never been a major spill, major accident, or regulatory violation. Currently the site does not have an accrual for loss contingency (environmental / remediation)....
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Anonymous
(VP Ops and Treasurer) Our nonprofit is going through a conversion of data process to migrate to a new SaaS provider in Jan 2018. Can the conversion costs of the implementation be amortized over the life of the 3 year arrangement?
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Anonymous
(Staff Accountant) I work for start-up company and we have been approved of a significant amount of R&D credit for the employer payroll portion of social security that will be refund quarterly by IRS through end of 2018. what is the best way to record this in our books to show this credit...
Richard Alderete
Title: Accounting Specialist
Company: Eggleston Youth Center
(Accounting Specialist at Eggleston Youth Center) I understand the concept of deferred commissions, but I am having trouble with putting together the initial journal entries with regards to the deferred commissions. I understand that deferred commission is a cost that is incurred for obtaining a new contract with a...
Jim McCloskey
Title: Managing Partner
Company: Catapult CFO Partners
(Managing Partner at Catapult CFO Partners) I see many startups using QuickBooks and QuickBooks Pro vs Premier accounting systems.  The problems with these accounting systems is that they do not have an audit trail.  Historical changes can be made in any month, so a simple review of adjsuting entries is...
Member's Profile
Elle Navorski
Title: Anonymous
Company: Anonymous
(Anonymous at Anonymous) My (small) corporation's tree roots caused damage to several people's homes. The two sides' attorneys went back and forth on this for over a year. The homeowners threatened taking the corporation to court. The corporation acquired a new attorney. The new attorney advised...
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Anonymous
(Assistant Accounting Manager) Hello I am first semester accounting student and am doing a report on challenges in the field of accounting. I posed this question to someone who has worked in the accounting field for a number of years and their response was the challenge of keeping current and up to...