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Anonymous
(Director of Finance) Our startup entered into a joint development agreement with a large company. The company will pay milestone payments to cover a portion of our R&D expenses. The R&D costs associated with the project are not tracked separately and are commingled with other...
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Ravi Ramcharan
Title: CFO
Company: self
(CFO at self) Hello All, This is my first post here and I must say this is a wonderful and very knowledgeable community! One of my clients buys raw fish and he then prepares fillets. This is done 90% with manual labor. He then packages it and stores it in inventory. So he starts of with...
Anonymous Member
Anonymous
(Accounting Manager) Our manufacturing company pays freight-out to logistics providers to ship products from our warehouses to customers. We do not charge freight-out in our customer invoices. From what I understand, COGS consists of inventoriable costs that are considered to be necessary to...
Anonymous Member
Anonymous
(V Finance) Our company will engage in marketing campaigns that may include the sale of our product, the product could be a co-branded product or our regular product sold at a deep discount. The intent of these marketing campaigns is to drive brand awareness through collaborations...
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Ted Emens
Title: Occupational H&S Coordinator
Company: Snyder Livestock Company, Inc.
(Occupational H&S Coordinator at Snyder Livestock Company, Inc.) Please help me understand how to accurately calculate PTO for the following scenario: An employee is eligible for: 32 hrs PTO after the 1st year of service 64 hrs of PTO after the 2nd year of service 72 hrs of PTO after the 3rd year of service PTO is awarded on Jan 1 each...
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Peter Tran
Title: accountant
Company: AC Accounting
(accountant at AC Accounting) Hi all… Why the correct answer under $14k? Can please explain? Thanks. 2,000 share options granted to each of 3 directors on 1 January 2010 subject to them being still employed as at 31 December 2012, the date of vesting. The fair value of each option on 1 January 2010 was...
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Leo Wang
Title: Accountant
Company: ICZoom Inc.
(Accountant at ICZoom Inc.) Hi, Our structure is with a Cayman Island holding company as the parent company. Under it, there are three 100%-owned companies. When I do consolidated financial statement, do I simple pull together the three for B/S, I/S and cash flow? there is no inter-company...
Anonymous Member
Anonymous
(manager) Has anyone had the experience of upgrading from Concur Standard to Concur Professional Version? I am particularly interested in: 1. time and effort in upgrading? 2. benefits on Concur invoice - what new features you consider most useful? 3. benefits on Concur expense- what...
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Zulfiqar Ali
Title: Assistant Manager Receivables
Company: General Group
(Assistant Manager Receivables at General Group) Need help from experts, Can some one tell me how to construct a money trail? What documents I would be needing? If there are articles/books etc anything for reading material, kindly suggest, Also whats would be the most important thing to be taken care of when making a...
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Eddie Dorrel
Title: Dropshipping
Company: ED1
(Dropshipping at ED1) Hello, I'm about to open an online drop shipping business, selling gardening products to US citizens. I am not an American myself, and have a registered business in my country. Some of the suppliers I use are located in the US and some are not. Are there any taxes that I...
Anonymous Member
Anonymous
(Assistant Controller) We are still under ASC 840 and need to finalize accounting treatment for a new 10 year lease. The peak liability is four years out so the liability is still increasing during the ST period over the next 12 months. I am unable to locate specific accounting guidance related...
Anonymous Member
Anonymous
(accountant) I have two corps A and B one year old. Because the start up expenses were incurred in A ( Corp B was registered later), the owner 100% shareholder of both, wants to convert the expenses of incurred in B to a loan to be paid to her under A. How can this be done ?
Karen Adams
Title: Owner
Company: KJA Associates, LLC
(Owner at KJA Associates, LLC) I recently was engaged by a Medical Device company. I have worked with Life Science clients - drug development companies - but not medical device. This client is in the early stages of development with several products but is moving towards commercialization with a CE mark...
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D M
Title: accounting manager
Company: SaaS
(accounting manager at SaaS) I have a question about the recognition of the upfront set-up fees per new GAAP. My understanding is that those should be spread over the life of a contract. Is that correct? Also, in regards to the implementation for private entities - as of 1/2019 should the revenue be...
Anonymous Member
Anonymous
(Senior Accountant) We signed up for 1 year contact at 35k. Monthly expense is 2800/mo. if the vendor is invoicing us quarterly 12k on first two quarters and 3rd and 4th, they will invoice 4600. Dr Accrued expense: 35000 Cr A/P : 35,000 What accounts do i use or how do i make monthly...
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Andrea M
Title: Accounting Clerk
Company: Global Land Surveying LLC
(Accounting Clerk at Global Land Surveying LLC) I am new to bookkeeping and had a question in regards to what the gross revenue of a company is based on. For instance, is gross revenue based off of what is invoiced for the month or what money was deposited that month?
Anonymous Member
Anonymous
(accounting manager) How to clear unearned revenue balance that has been carried over for 2 years. A customer signed a contract and paid fees in full in 2016. Half of the invoice amount was earned based on the performed work, and the other half was kept unearned since the work wasn't complete....
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Anonymous
(Manager) I am doing some accounting work for a non-profit foundation associated with a college. They have an accounting situation that I have never run across before. The Foundation built a multi-million dollar campus for the benefit of the College a couple years back. They...
Anonymous Member
Anonymous
(Accountant) Company have sold some assets; however, the actual cash will only be received after the books are closed for the year. Is there a way to account for it in 2018? specially that the gain of the sale is material , can this be accrued ? there is sufficient documentation to...
Anonymous Member
Anonymous
(Director of Product, Partner Operations) I'm looking for people to share their experiences with systems like Drake, ProSeries, Prosystem fx, Lacerte, etc. I have seen smaller threads for some products, but I'm looking at this from a product feature point of view like "if we could build our own system based on all...