Accounting
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How to reduce retail shrinkage in a chain store?
Since it includes employee, customer and vendor theft (all forms of internal and external theft), misplaced inventory, mis-shipped inventory, faulty inventory control, damaged inventory, etc... it's not that easy to calculate the parts of the sum, let alone reduce total retail shrinkage. As one def…
3
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What is the minimum threshold for capitalizing assets for a publicly-funded entity?
My predecessors established a very vague asset policy which I am now revising to include additional information. However, they bumped the asset threshold from $1,000 to $5,000 and stated this was due to a federal grant policy. Due to the relatively small budgets for a school, the $1,000 threshold w…
2
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What are your cash flow forecasting and liquidity management best practices and insights?
cash flow forecasting liquidity management best practices and insights please.
6
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Documentation of Valuation of Deferred Tax Assets
How do I demonstrate that a deferred tax asset requires or does not require an allowance? When the realization of the DTA is based on projected future taxable income, other than the forecasted amounts, what else are useful documentations?
4
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LLP accounting and tax question
I am working with a new law firm that has presented the following way they plan on paying the two partners. No one else is a professional in the firm. They have proposed the following: Partner that brings in the account gets 1/3 of the revenue; partner that does the work gets 1/3 of the revenue, th…
2
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High volume credit card transactions in a SAAS start-up
I am interviewing for a company who will be initially using credit cards to receive payments for a high volume, subscription based SAAS software product. Has anyone been in this situation? What about reconciling over 1,000 credit card payments or more a month in a bank account to the back end order…
5
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Cash Forecasting: Setting the Table for Success
Accurate cash forecasting is all but impossible without a well defined sustainable process. A quality cash forecasting process sets the table for success and forecasting cash without one places a huge barrier to success in this inherently challenging endeavor. The very first items of business are …
6
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Grossing Up Sales Spiffs
What is best practices around grossing up a sales spiff (e.g. trip to Aruba) as a %? What happens if you have a sales staff that cross many brackets?
10
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Capitalized Software Implementation Costs - from the seller's side
Our company provides hosted SaaS which we recognize under ASU 2009-13 via BESP. Currently, we capitalize "direct & incremental costs" - such as commission to the sales people, 3rd party costs, etc - and then amortize them over the revenue generating life of the contract. We do not capitalize th…
1
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Do we change US Tax Year to synch with India Stautory Tax Yr or stay with WW FY
I have heard conflicting recommendations with regard to changing our tax year. We have a significant Indian operation which follows the statutory tax year thru March in India. The US HQ and investors use a fiscal year ending January. I've heard a one recommendation to change the US tax year to Mar…
3
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What are the entries for Restricted Stock Units (RSUs) net issuance vs. sell-to-cover?
2 relatively similar methods to withhold Federal & State taxes on the vesting & delivery of Restricted Stock Units (RSUs) are Net Issuance & Sell-to-Cover Based on the following assumptions: 100 shares vested & delivered; the fair market value on the delivery date $50; and the tax …
3
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Reagent agreements - capital lease?
We are looking at reagent agreements for the hospital where the vendor locks in the price on various reagents if we commit to a minimum purchase quantity each year. The vendor also "gives" us the processing instrument/equipment for the reagents - they build the cost of the equipment into our miniu…
8
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CapEx or ??? for SaaS Customizations?
We have entered into a partnership with a company offering a Software-as-a-Service to us. We can request that they customize the software for us. If it is something that is exclusive to our needs, we pay $300/hr for the development. However, if it is something that we don't care if they reuse fo…
1
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Variable Interest Entity – Voting Rights vs Risk & Reward
I understand we need to consolidate an entity we may have a “controlling interest” in. Voting rights seems straight forward… we own less than 50%. But not sure what to make of the risk & reward guidelines. What would we base that on? Also, aside from the definition, maybe some examples and …
1
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Should virtual goods, services and currency have special revenue recognition?
Premise: I've been troubled for some time over the application of physical-world premises to virtual-world interactions. The E&Y article attached is a case in point; it is concise and informative as to the guidance, but does the guidance make sense? I'd like to hear input (pros/cons/alternativ…
7
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Transitioning to a paperless Accounts Payable
I manage Shared Services for an advertising company. Each agency in the network has a lot of autonomy and any changes to the process have to be "bought in" by all CFOs. Recently we have implemented Accounts Payable workflow process, where invoices are converted into pdf documents and ro…
1
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Reclass of a capital lease to an operating lease
What are the rules on changing a capital lease to an operating lease? How do you go about this approach, and would you have to go back to the inception of the lease to incorporate the change? Any and all thoughts are greatly appreciated.
5
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Managing working capital best practices
I'm seeking examples of best practices in managing working capital and would like to share across the proformative network case studies on success and failures. In this case, I am focused on examples of systems implementations or procedural and reporting changes which have increased visibility to a…
5
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How do you Detemining the cost basis of property (real estate) purchased and rehabbed while getting a developer fee?
We have received grant funds to purchase and rehab real estate (condos or single family homes) to rent out to qualifying individuals. Part of the proceeds received include a "developer fee" in the project budget to do this work, besides other externanl vendors. Is this developer fee used as part…
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What tools are available to automate revenue recognition (specifically 08-1 related issues)
Does anyone know of any usfull software or sevices available to address 08-1 related rev rec.
5
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Does anyone have experience in instituting outsourcing of the billing and collections functions, and what are the top service providers?
I am seeking to find the best in class companies providing outsourcing for the front-end billing as well as back end cash applications and collections functions?
1
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Oracle/Peoplesoft license migration to SaaS model
Has anyone been divested from a parent company that uses Peoplesoft financial G/L that need to be carved out to the new company. If so, what were the fully loaded costs of the migrations (license fee, migration costs, maintenance, etc.)? Also, had anyone moved from the license model to the SaaS m…
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Decision Tree for 08-1 and its successors? Software revenue recognition
Colleagues, Does anyone know of an updated decision tree for basic sorting of which rule from which standards body applies for software rev rec? I would especially appreciate one that includes ASC 985-605, ASU 2009-14, 650-25, 2009-13. Bonus points for any inclusion of IAS 18. I do have the write…
1
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GAAP and unlimited vacation time
Our business is located in CA. We would like to move from a PTO policy to unlimited vacation time for VP's and above. Are there any regulations or risks that we would be assuming by having an unlimited vacation policy of executives? Would we still be required to account for the time from a financia…
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