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Anonymous Member
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...
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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...
Anonymous Member
Anonymous
(VP Finance) Hoping all senior finance execs can chime in with opinions on this one... I head finance and so am privy to all salary data within the company.  Recently, I requested a personal salary increase and one of the data points I used to support my request was salaries of...
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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...
Anonymous Member
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)....
Anonymous Member
Anonymous
(Owner) As a US-based online business, I have several employees living in the Philippines (citizens of Philippines). Are the wages I pay them considered to them to be US source income? Am I required to withhold tax at 30% for them? Am I required to file Form 1042 and Form 1042-S,...
Anonymous Member
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?
Anonymous Member
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...
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Anon Anon
Title: Accounting Manager
Company: SBD
(Accounting Manager at SBD) Hi, I'm at the cross roads of my career and have about 8 years of experience. I have worked in public accounting, internal audit and as an accounting manager. All jobs have been for multi billion dollar companies and/or divisions of multi billion dollar companies. I have a...
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Anon Anon
Title: Trsry
Company: Anon
(Trsry at Anon) What are the rules regarding intercompany loans between U.S. entities (U.S. parent to U.S. sub)? I want to set up physical cash pooling in the U.S. between U.S. entities and am thinking about... - Do I technically nees to track loans between U.S. entities? If so, why?...
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...
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Roger Frederick
Title: CFO
Company: Private
(CFO at Private)
Anonymous Member
Anonymous
(Financial Reporting Manager) Has anyone used the Vena Solutions for Budgeting or Reporting? Thoughts?
Anonymous Member
Anonymous
(Product Marketing) If an employee has a quarterly bonus as part of their compensation, which is tied to new bookings for the company, and they are non-voluntarily terminated (after working the full quarter) before the amounts have been paid out, is it common to not pay anything? This would...
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Alan Jones
Title: Controller
Company: Portlandia Restaurant Group
(Controller at Portlandia Restaurant Group)
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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...
Sandeep Kommineni
Title: SEO Analyst
Company: Tekslate
(SEO Analyst at Tekslate) I am answering this question in the scope of comparing the two tools to perform financial consolidations. My answer on this would be to compare SAP BPC (Business Planning and Consolidation) which is a mature product for consolidations SAP purchased from Outlooksoft about 12...