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What does Sunil Thukral think?

I look forward to helping on any short-term/ long-term projects in any of the following areas: • External/Internal financial reporting (10K/10Q/Other SEC Reporting) • Special projects (Restatements/ S-1) • Audit readiness (Big 4 / GAAP conversions) • Financial controls testing • Mergers ... See full profile

In the webinar that I had mentioned above, had an interesting slide, wherein the close process was divided in three different components: 1. Systems...
Hi Patrick, Before answering the question, we need to clearly define what the definition of close process is. Generally close process is the period...
Hi Wayne.....I have been involved in helping companies transition to IFRS in Canada and also locally in U.S. for a large financial institution. If...
Hi Jeff, The short answer to your question is yes. I have attended one of the webinars organized by Silicon Valley Accountants (www.SVACPA.com). I...
NOTE: The following is only my general opinion. However, I will need to know more specifics of your situation before I can provide more specific...
Rick.....all are great suggestions. If possible - you can set up a system wherein the employees can ask the questions anonymously to the senior...
The headache will depend on the size of the company and the nature of the operations. For a company with foreign operations - getting the...
Great suggestions above....however, you need to determine the depth of knowledge that is relevant to the job. Excel is not rocket science - it can be...
Here is the link to the latest guidance that is still at exposure draft stage. After this guidance is approved, all the operating leases will be...
Here are some other comments on a different thread that might be useful.... https://www.proformative.com/questions/ma/answer/ive-had-potential-...
Alones, you are very welcome. I am glad that I could be of help to you.
Thanks for your comments Michael. In my opinion, it will depend on the type of companies (i.e. private / public companies and the size of the...
My two cents on this issue - some of the issues might not be new to you: 1) Addressing the security of the data. 2) The company who is providing you...
Some very good thought provoking points raised by Simon above. The only thing I will like to add is it will also depend on your comfort level and...
Great comments above.....I will like to add my two cents - Once you commit to the corporate blog, you need to ensure that you keep it updated on a...
@Wayne......thanks for your comments. I have also seen cashier check's being returned by bank as they were missing the words "Inc." on them. So...
@Phil.....thanks for your comments. On this issue I will agree to disagree with you and agree with the auditors of the company. In my discussions...
Here are some of the useful links: Here is the link to the exposure draft from the FASB's website..... http://www.fasb.org/cs/BlobServer?blobcol=...
Thanks for your comments - @Phil - So how do you propose to show the amount transferred in the financial statements? Do nothing and only act when...
You will need to add some more clarity on your question as to what stage you are in for the restructuring activity, i.e. restructuring has yet to be...
In my opinion, you will treat the wire transits it the same way as the checks that you have in hand, for which the funds have not been credited in...
Just wanted to update the above comment that SAB Topic 13.A was updated with SAB 104. Below is the link to the SAB 104 document. http://www.sec.gov/...
Essentially the accounting for the operating leases both under IFRS and U.S. GAAP is the same. U.S. GAAP provides bright line tests while...
Here you go......also confirm that there are no other side agreements entered into along with the cancellation this contract that is being cancelled...
Hi Paul....if I understand your question correctly, the customer is paying you an early termination fees for the cancellation of the contract in 2011...