Sometimes the initial review of the period-end financial statements comes as quite a shock—the revenues or expenses may be wildly off from expectations. This results in a great deal of frantic research, while the controller investigates possible causes, rapidly makes changes, and issues bland statements to the rest of the management team that the financial […]
What is the right time to begin the CPA exam application process? What to take for application process? That are typical, yet critical questions arise just before [or during] CPA exam application process. This post provides the answer. Advertisement CPA Exam Application Process Time Table . Select the state/jurisdiction in which you plan to practice […]
When the accounting department issues financial statements, one of the largest expenses listed on it is the material cost (at least in a manufacturing environment). Unless they conduct a monthly physical inventory count, the accounting staff must rely on the word of the logistics department in assuming that the month end inventory listed on the […]
Why closing process difficult task to complete for most accountants and controllers? Historically controllers and accountants dread the first business day of the month. This is the beginning of a harrowing process that can last for weeks, as they struggle through the dozens of steps required to close the books for the preceding month. If […]
It is not surprisingly, my post about "Capitalization and Amortization of Software Cost" been gaining lots of reaction and questions on the ground [through email], particularly from software companies or accountants who take care of a software company. Despite that software industry is considered as a dynamic business, cost capitalization is one an old—constant debate in the accounting world.
Are you a business owner, or a new financial controller, or a new accounting manager or a new financial manager in stage to hire a bookkeeper? Do you know why you need a bookkeeper? What you can expect from a bookkeeper? Or, are you a bookkeeper itself that want to know what company’s expectation on […]
There is a lengthy list of reasons why a best practice implementation may not succeed, as noted in the following points. The primary reason for listing all of these causes of failure is not to discourage the reader from ever attempting a best practice installation. On the contrary, this allows one to prepare for and […]
Understanding the cycle of finance will help you figure out who the key players in company’s financial structure are and where you fit into your company’s financial structure and should be able to answer these questions: What and where are you now? What is your next finance—and—accounting career in five years a head? You’ll also […]
Warrant is unique compared to other types of securities because they may be converted into common stock. A controller or CFO needs to have a good under-standing of warrants along with their valuation, their advantages and disadvantages, and when their issuance is recommended. Here is a basic overview of warrant. Follow on…Advertisement What is […]
What is journal entry for foreign currency transactions? Get the answer here. Explained in details with case example and its journal entry for better understanding.