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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...
Anonymous Member
Anonymous
(Advisor) I have a contract to deliver educational services in Turkey. I will provide services, in country, with US citizens and an Israeli individual. In the US, all of the services are recorded as business expenses, US citizens will get a 1099. What do I have to report, and to whom...
Anonymous Member
Anonymous
(Owner) I own a niche tax practice and took on too much work this year. I've been working 90 hours/week and still don't think I'm going to be able to finish by the deadline. I'm still new (2nd year), so not really a pro at managing the practice yet. What are my options here? Has...
Member's Profile
K P
Title: Accounting Manager
Company: MCS
(Accounting Manager at MCS) Hello, I have a scenario where payments were posted to AR at the end of the month but payments were not deposited until the following month. In order for AR Aging to balance to GL I will have to make an adjusting entry at the end of the month and reverse it at the beginning...
Anonymous Member
Anonymous
(Owner) So I had a sole proprietor and was making SEP IRA contributions, but everything was run through my personal account.  I switched to an s-corp.  Do I need to 'transfer' the balance of the SEP IRA onto the corporate balance sheet?  If so, what is the best way to go about...
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Arl Boyd
Title: Owner
Company: Frozen Yogurt
(Owner at Frozen Yogurt) I am sure it is an easy answer but I just can't figure out what i am missing? Thank you! Trial Balance Notes Payable ($9,800) Interest expense $100 Cash $9,700 Retained Earnings (Loss/DB) $100 OUT OF BALANCE $9,900 ($9,800)...
Anonymous Member
Anonymous
(Corporate Controller) Hello, I'm new to this forum and have a question about how those of you in manufacturing or other similar industries treat your inventory policy for materials and supplies. I'm relatively new to my company (small-mid level) and we seem to inventory things that cost only a...
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Roger Frederick
Title: CFO
Company: Private
(CFO at Private) I have a small consulting business. What are some things that I should look at? Experience? Cost? What else?
Member's Profile
Ravi Ramcharan
Title: CFO
Company: self
(CFO at self) Hello All, I would like to ask a question about debt matching. Finance theory would say match long term debt with long term assets (building, plant etc) and short term debt with short term assets such as working capital. But what if a business is young or just doesn't have...
Anonymous Member
Anonymous
(Controller) Tech companies such as Google, Facebook, Snap, Amazon, Spotify, Dropbox, Box, Pinterest, Lyft state in their 10k that software development costs are immaterial, so they expense and don't capitalize. How do they reach this conclusion? And how do their auditors (all are...
Anonymous Member
Anonymous
(AR Accountant) A company offering its service to clients by time-specified contract and non-time-specified contracts. if that service cancelled either as a result of client asking or; accumulation of that client debit balance, he is obligated to pay a commitments fees. How should the...
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Laura Gray
Title: Tax Preparer
Company: Self-Employed
(Tax Preparer at Self-Employed) I currently own my own tax business due to taking it over when my mother in law passed away last year. However, my background is Accounting, including I have my Masters in Accounting. I was on Disability for the last 6 years though after I got my degree so been working...
Alexander Haigh
Title: Treasury Consultant
Company: Validus Risk Management Ltd.
(Treasury Consultant at Validus Risk Management Ltd.)   The traditional view of financial risk management, especially in non-financial businesses, is that it is a necessary but non-core activity, playing a supporting role to the ‘stars’ of corporate strategy such as manufacturing, logistics and marketing....
Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)   A growing number of individuals and businesses own bitcoin or use it for transactions (perhaps with a third party actually handling the bitcoin to cash exchange).  So, more people, including tax practitioners, need to know the federal guidance at Notice 2014-...
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gautham kumar
Title: cognos
Company: onlineitguru
(cognos at onlineitguru) IBM reports updates Cognos analytics with automationIBM updates with Cognos analytics and its business intelligence with the best automation and self-service analytics toward smart analytics. my question is do these ai impact enterprises using Cognos technology.
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO at SBAConsulting.com) According to a WSJ article: "By some measures, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. What does that say about the future of banking? At the end of March, customers of PayPal held more than $13 billion in accounts at the online-...
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Blair Illiano
Title: N/A
Company: N/A
(N/A at N/A) Running your own in-house accounting services may have worked well for your business so far, but if you’re looking to cut some costs and save some money, then outsourcing your accounting services to a professional team could help you do just that. But things are fine...
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cam johnson
Title: owner
Company: prop
(owner at prop) The foreign tax credit cannot be more than your total U.S. tax multiplied by the fraction of taxable income from foreign sources. Since I have some U.S. income, it's not possible for the foreign tax credit alone to reduce your total tax to zero (which is what I am...