FP&A
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Retained earnings increases with each year's dividend
I have inherited a Quickbooks file in which each year's dividend is paid to the sole director as: Dividends (equity a/c) Dr DCA Cr. My problem is that, while the director can draw on his DCA and "take out" his dividend payments, the Dividends a/c increases every year and Retained Earnings also incr…
8
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Difficult Board Members Require Special Handling - But What?
How do you deal with a board member who is "difficult?" This question was asked at a recent webinar, now available on-demand: "CFO to Chief Trusted Advisor: Earning that Role with Your CEO" Please add your thoughts about it below. Thanks!
7
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Invoice terms 2 net 15
I received an invoice for $30,000 under the above terms. I've never seen this before. I'm familiar with 2/10 net 30, etc., but am wondering if the vendor intended to this. My interpretation was that we get a 2% discount if paid within 15 days and have no idea when it would be due if we paid in more…
5
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How to record end of year accrual entries
Hi, I would like to know if anyone has any advice. We had expense incurred in December but I received the actual bill [invoice] from supplier end of January. If I enter the expenses as accrual in December as an GJ then how do I enter the bill in January. I always have specific accounts for cost of …
5
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Need a facilitator for a CFO Training Program
Hi all, I am looking for an adviser cum facilitator for a 3-day CFO training program to be held in Asia. The program is designed for CFOs from corporates and will cover the technical as well as strategic aspects. Ideally a former CFO who could share the practical frameworks and tools which finance …
5
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What to do when a CEO can't see he owes it to the organization to change his mind?
More precisely, "as a CFO, how do you tell your CEO he or she is wrong about an important issue of strategy?" This question was asked at a recent webinar, now available on-demand: "CFO to Chief Trusted Advisor: Earning that Role with Your CEO" Please add your thoughts about it below. Thanks!
11
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Work Retreat: Waste of Time or Invaluable?
I have never been on or heard about a work retreat that was anything but awkward. Have you ever been a valuable work retreat? Why was it valuable? What was the ROI?
6
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KPIs Benchmarking
All, I am wonder if anyone can help me on below. I tried to find the benchmark number for below KPIs. What will be the appropriate/reasonable number for me to set as the target for each of below KPIs?. What is the number recorded at the Best In Class companies? Purchase to Pay 1) Cost per Invoice 2…
1
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Student loan debt next bust?
I read an article predicting the trillions of dollars in student loan debt will eventually cause colleges to go out of business and cause financial crisis much like what happened in the housing market. What I don't understand is who in the financial world allows such practices to get that far out o…
3
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Is Social Media the death of a New Hire?
Would you pass on a candidate because of their Facebook page? Should an employer even look?
20
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Preparing for audit
As a small, private company, we would like to get our first audit. To do so, we have to select an audit firm, clear up some historic numbers, and implement controls. Would like to learn from folks who went through the same route - best practice of auditor selections, and approach of how to effectiv…
2
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Admin Overhaul
In the midst of looking for an admin support person my human resource coordinator said she wanted to move out of state and work remotely. While I am considering this proposal I think I can make it work but not doing her current job. This gives me the opportunity to redesign my team. Curious if anyo…
1
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Could somebody repost the article of "CFOs Sitting on Their Own Boards: The Benefits and Risks"?
The website gives a wrong link.
1
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Why P.O. System is important?
Can someone explain to me why it is important to have a P.O. System?
3
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How to account for nominee investments & its return/dividends
There are restrictions in ownership of local companies in many countries. To overcome that if I own 70% of a local company, I can only declare 49% and tuck the remainder in a local nominee or partner. My question is, 1) in such cases, what are the ways that one account/disclose for the investments …
2
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Is CEO drawing a salary of $1 per month a good idea?
I know of a 6 year old start up. Its CEO wants to draw a salary of $1 per month to motivate sales force to focus on large deals. Is it a good idea?
11
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10Q/10K Disclosure Checklist - Small Company Filer
Does anyone care to share a disclosure checklist template to use for 10Q/K filings that is geared towards small public filers and specifically for financial institutions? It would be greatly appreciated.
3
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How do I teach people to use resources wisely?
I've been struggling with a dilemna and thought you all may be able to help. We are a smaller company where every penny counts. There is one department that doesn't seem to understand that money doesn't grow on trees. Wastefulness abounds there. Just a few examples include using large quantities of…
5
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Form 3921 for stock option exercises ..
I'm expecting some employees to exercise options and I googled to get a stock option exercise template and this form came up. I don't recall former employers issuing this form to me when I exercised options, however, it seems to have been in play for quite some time. I was wondering how folks are h…
2
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Mileage reimbursement
How do you determine mileage; is it from work site to place traveled to? What if the employee travels from home to another place? Do I then figure how many miles they would have traveled to work that day and deduct those? I am trying to come up with a policy. I have one person that abuses the milea…
6
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Cell Phone Policy
Does anyone in the group have a cell phone policy that they could share. Our company wants to provide mobile phones for high frequency travels and a stipend for employees that work outside normal business hours. Looking for some ideas on wording and structure. thanks
10
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How can I assess bank's internal control?
I just started a new job as a financial controller of an Islamic Bank which is different from other banks. I want to assess their internal control system, especially for their investment department (Murabaha) and customer care department. any suggestions or links regarding this matter? Thanks in ad…
2
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Mission Statement Pros & Cons
The last company I was at spent a great deal of time crafting a mission statement. In the end, it was equal parts failed marketing, management complimenting itself and a morale-decreasing joke. Now, my current employer is seriously considering creating one. Does anyone take mission statements serio…
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