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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.
Anonymous Member
Anonymous
(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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Oluwaseyi Adebowale
Title: Management Accountant
Company: Dastra Nigeria Enterprises
(Management Accountant at Dastra Nigeria Enterprises)
Anonymous Member
Anonymous
(Manager) I find out that it is confusing to calculate employees' paid time off expenses on 12/31 and 1/31 of each year. For example: On 12/31/2018, employee A used $100.00 vacation, had $100.00 unused vacation benefit remaining to be carried over to 2019. Employee A also used $50.00...
Anonymous Member
Anonymous
(Educator) I was asked to represent a company from abroad to collect balances owing to my own account and then remitting it to the company minus the commission. The company wants someone in N.America to handle their N.American clients. Personally, I don't want to use my own personal...
William Lieberman
Title: Founder & CEO
Company: The CEO's Right Hand
(Founder & CEO at The CEO's Right Hand) I have a client that raised $1MM in convertible notes at a $10MM cap with a 20% discount. They subsequently received their Series A investment of $10MM at a $40MM pre-money valuation at which time the convertibles converted into equity. The question is: what is the journal...
Anonymous Member
Anonymous
(Accountant) We are a General Contractor with Multiple Divisions that perform work on our Construction jobs, such as the Electrical, etc. We treat them as a Profit Center so we can capture their revenue and costs and generate a P&L for their department. We are purchasing waste...
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Thomas LYNCH
Title: President
Company: CereTel Inc.
(President at CereTel Inc.) I am not an accountant but I have an accounting degree and am trying to clean up our books after our bookkeeper left. I am pretty familiar with QBO, at least on the day-to-day level. If I receive an invoice on, say May 5, that is for the period April 28 to May 4, and I...
Anonymous Member
Anonymous
(manager) Hello, Currently we are trying out whether Tripactions.com (a corporate travel booking website) is a good option for employees to book travels and also integrate with our HR system (BambooHR) and expense rebimbursement system (Concur)? Greatly appreciate any feedback!
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Henry Kusuma
Title: Functional Consulting
Company: Toba Technology
(Functional Consulting at Toba Technology) Hello. First of all sorry for my bad english. Here I would like to ask some help from you guys regarding capitalization cost and how to depreciation it. Lets say, company A have an asset with 5 years useful lives and already two years depreciated. In mid of third year,...
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Deeire Denia
Title: Accountant
Company: RETR INC
(Accountant at RETR INC) My company pays 100% of our employees' legal shield and supplemental life insurance up front and we are refunded by the employees during the month. What would the appropriate journal entries for these transactions look like under GAAP? I thought A debit to the expense...
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Diana Dickson
Title: Bookkeeping executive
Company: DD LLC
(Bookkeeping executive at DD LLC) Hi All, I've posted some questions on here before and had some great help. I'm a IT tech who has been tasked with getting an accounting firms QB data into the cloud. They do not want to go QBO but want their current QB Desktop files to be hosted in the cloud with QuickBooks...
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Mary Breen
Title: Corporate and financial translator
Company: Freelancer
(Corporate and financial translator at Freelancer) I would be grateful if someone could provide me with the English term for this accounting concept I have to translate from French: The firm is a transport operator who receives their revenue in many ways but they have entries in their documentation that are defined as:...
Anonymous Member
Anonymous
(MBA Student) If a firm is 100% financed by debt, where would the net income (retained earnings) from the firm's income statement be shown on the balance sheet? In other words, how are retained earnings that are used to finance the firm in the future handled on the balance sheet when...
Anonymous Member
Anonymous
(VP of Sales and Delivery) I'm looking for your recommendation based on the clients I'm currently assisting in designing an optimal solution for fast or slow growth thats affordable and can handle their basic requirements. For example I have one company 3 employees, 500,000 in yearly revenue that...
Anonymous Member
Anonymous
(Accounting) Somtimes, a contract for plant facilities includes an operation service. So it can be divided two obligations, construction and operation. And usually, plant facilities is highly complex, it is almost impossible to find new contractor for the operation service only. For...
Anonymous Member
Anonymous
(Accounting) 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 where to start. They are actually from 3-4 years ago and are balances that were carried...
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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 that has multiple negative effects on the business. First parts inventory is undervalued....
Anonymous Member
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...