FP&A
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How do we usually translate the foreign entity P&L accounts?
If our foreign entities functional currency is local currency, we use the currency rate method to translate the foreign entities FS from LC to USD reporting currency. For BS we use EOM rate , do we use current month average rate or YTD average rate to translate the P&L revenue and expense accou…
6
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Who should own reporting headcount? Finance or HR?
"Should Finance or HR own reporting on headcount? This is a big issue between our HR and Finance Depts." This question was asked at a recent webinar, now available on-demand: "How A Strong Finance / HR Partnership Delivers Business Value" Please add your thoughts about it below. Thanks!
1
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Holacracy....How far can People Empowerment work?
I just read that 14% of Zappos staff took the buy-out (3 month salary) opportunity from CEO Tony Hsieh. So I thought it would be a great topic for discussion and at the same time an introductory topic for those who still have not heard of the concept. The newest management concept that is buzzing r…
1
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Can BOD stock option approval predate employment start date?
For example, our BOD meeting is in Feb and occurs every quarter. We have accepted offers which we want to include in Feb approval. But the employees will not be on board until March. The vesting will start on employment start date. Do I have a problem with it? Is there a clear rule on this? My conc…
4
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Expense or capitalize advertising production costs?
Would the costs of producing a video ad be expensed upfront or capitalized?
3
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Are there any tools around for automating or at least helping with the close process?
I'm not looking for something to close the books for my team - I think that doesn't and can't exist. However, there must be some tools out there that help you capture your close process and optimize it, or help you walk through a close process with check-ins, check points, etc.. Basically something…
8
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What is the correct balance sheet presentation of Directors' current account?
Hi all, Kindly assist on the correct treatment of directors loans on the balance sheet. Do we present it under short term or long term liabilities?
6
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LinkedIn profile updates - how detailed?
How detailed should you be on your LinkedIn profile? I've just finished updating my resume and plan on updating my LinkedIn profile this weekend. I am currently on a job search (but still employed by my current company). Not sure if you think it should be as detailed as my resume or less so? W…
29
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Converting from IFRS to US GAAP
I would like to know if there are examples of public companies that have gone through an IFRS-to-US GAAP conversion, for example companies listed in a stock exchange abroad that are seeking listing in a US stock exchange.
3
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Best accounting system for new, small, international SaaS company?
I'm the recently hired Controller of a new spin off company. They currently don't have an accounting system (accounting is being handled by the TopCo) and I'm in charge of choosing one. Here's a background on the company: - Head count: ~50 now, with plans to double head count by EOY, expected to …
19
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Accounting rules for one owner, multiple LLC's
I've been hired to do bookkeeping for two brothers who are serial entrepreneurs. They have 6 separate LLC's all with their own bank accounts. They've been keeping track of everything on spreadsheets and need help getting organized. I'm scared that I'm in over my head. They borrow money from one com…
7
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Stock option vesting during a leave of absence
How have other startups handled stock option vesting during an unpaid leave of absence? We have a key team member who will need to take a 3 month leave of absence in the spring to complete his dissertation and receive his PhD degree. By the time he will need to go finish his degree he will have be…
6
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When paying foreign vendors, must you get a W8 (like you have to for W9) or can you pay without getting W8. Also, are supplies an exception? Thank you
When paying foreign vendors, must you get a W8 (like you have to for W9) or can you pay without getting W8. Also, are supplies an exception? I have a foreign supplier that does not want to fill out the form since they never have before with their US customers. Thank you
4
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Purchase price allocations for acquisition?
We just acquired a 45 person software development operation in India. I am in the process of allocating the tangible and intangible items against the purchase price. One item I am looking for guidance is what value per engineer should I use to determine that portion of the allocation. Given t…
2
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Stock Option Vesting: Can it Predate the Board Approval?
Quick question about stock option vesting for some grants we are looking at: Can the vesting date pre-date the grant date? In other words, if we hire someone June 1 but the board meeting to approve their new hire grant is not until July 15th, can we give them vesting that starts at their first date…
2
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Can CPM systems handle ad hoc analysis?
"My hesitation in getting rid of spreadsheets in favor of more automated analytic and CPM systems is that I lose the ability to do ad hoc analysis as the business changes. Canned systems and reports haven't been able to give me what I need in changing environments. What advice do you have in that…
3
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How do I know if my boss hates me?
It seems that no matter how hard I work, and how much I try to contribute as a team player my boss never recognizes my efforts. He often credits others for my work, and is very “defensive” of what he views as “his turf” to learn more about what he does. How do I figure out if I am just banging my h…
19
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Dual Pricing Transfer Pricing
I would like to hear from anyone with experience using dual pricing transfer pricing (non-zero-sum) as a solution for intercompany transfers. More specifically I would like to better understand the value derived from this method and any negative issues that your organization experienced from using…
1
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Accounts Receivable Collection Goals
This could be a basic question, but I still would like to seek your expert advice here. How do I come up with collection GOAL? What is the scientific method to set goals on a quarterly basis?
5
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Deduction from expense reimbursement
Are company's allowed to deduct fees (fines for tickets & tolls) from employees expense reimbursements? Are there any laws restricting this? What are some of your practices for recouping employee expenses for fines that are charged to the company? This is specific to employees in leased vehicle…
2
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Why aren't CFOs and CMOs BFFs?
I just recently landed in a marketing department and once again find tension, barely camouflaged hostility really, between the CFO and CMO (who I work for). What's with this perpetual Jets vs Sharks thing? Is it like this everywhere? What can be done about it or is it a necessary tension that is ac…
17
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Typical Startup Equity Plan
"Is there a “typical” equity plan design for start-ups?" This question was asked at a recent webinar, now available on-demand: "Best Practices in Equity Financial Reporting" Please add your thoughts about it below. Thanks!
1
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Options of converting a parent company loan into.
We are a subsidiary of a US company in Ghana. The FX rate and interest rate on the loan is becoming too much for us. We want to convert the loan into other options. What options are available to us? Bismark.
1
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Tesla homepage/twitter hack......
Here is a synopsis of how Tesla's twitter and homepage account got hacked. SecurityWeek, which spoke with a Tesla spokesperson, explained that the two accounts were hijacked via a simple tactic dubbed "social engineering." It went something like this: 1. A hacker called AT&T customer support an…
1
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Are sales samples given need a sale use tax calculation?
We are giving away sales samples to retailers so they're not paying anything for the goods. In this example would we the supplier be considered the final end user and therefore have to declare and calculate the sales use tax payable to California state tax board? Thanks
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