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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

Hi Stephen - This is the same email I had sent you last night - posting it here as it might be helpful for the others in the group. The CTA is...
Hi Tim, Derivatives and hedge accounting is one of the most complex topics. Even the guide books that have been written by the Big 4 are at least 500...
Hi Stephen, The cumulative translation adjustment(CTA) for a foreign currency translation adjustmetn arises as the all of the monetary assets (cash,...
Please feel free to join the LinkedIN group that I have started - "Understanding IFRS Financial Statements" at the following link : http://www....
Hi Arnold, There is no firm date set as of yet by the SEC. However, based on the preliminary views of the earliest the U.S. SEC will adopt IFRS will...
Hi Yusuf.....agree that Canada is adopting IFRS as issued by International Accounting Standards Board (IASB), i.e. without any amendments. However,...
Hi Yusuf, Please let me know the skill set that you are looking for as I am in touch quite a few professionals at all levels who have been involved...
I have primarily used Excel modelling - however, I agree with your comments that the Excel model do get broken down easily and if you do not keep...
FAS 167 amended FIN 46(R) and is applicable to the calendar year companies for the 2010 reporting. FAS 167 amended FIN 46R and introduced the concept...
Ernie, The non-compliance of the debt covenants would result in default, which can have a material impact on any company. Hence, the companies I...
Hi Jeff, If I was in your shoes, I will just sit back and relax in 2010. The reason being that SEC has yet to issue their final say as to if they...
Hi John.....I have some experience in developing web sites and web based applications. I think that it is a very important step and this would...
Michael, I completely agree with you - I have always found that the waterfall charts are the best to visually convey the positive and the negative...
John, I think that it is an excellent idea. Keep up the good work!
Any multi-national company would normally have a policy documenting documenting as to how it is managing and mitigating its foreign exchange risk....
Andrea, I use all the old FAS standards all the time and then use the FASB cross-reference tool to determine the new codification number. I...
Hi Kimberly, Thanks for the comments - can you please point to the exact topics/sections where the language has changed, which in your opinion would...
Hi Mark, Thanks for your comments. If accunting was really black and white, we would not have "probable" included in GAAP. :-) Anyone else in the...
I personally am of the opinion that U.S. GAAP is not going away that easily. If you her Bob Hertz from FASB or the SEC, you always hear that U.S. is...
Hi Jeff.....I am posting the link to the two new documents that were added to the US GAAP codification. Update No. 2009-14—Software (Topic 985):...