The Key Points (this Blog) is Our National Level blog focused on the Accounting, Tax, Regulatory and other Issues in GAAP, IFRS, OCBOA, the IRC, SEC and FINRA rules, Bank Laws, National Governance and more which pertain to Interstate and National Issues. In order that you can meet us inside the State Lines join us at the DCarsonCPA.blog (Our NY Focused Blog) and the Oak Lines (Our Connecticut Focused Blog). We will be adding more with time but these lines as extended by twitter provide helpful insight to those with related interests.
We are also following other state lines like Texas, California, and Illinois and more in similar ways and you can find this information more on the Facebook and Twitter end of the spectrum, frequently where the National and the State Lines connect.
DCarsonCPA.com we use experience, knowledge, research and alliances to support Client needs and look to support your needs on Traditional and Strategic CPA Services. In a time of increasing regulation, when we rely more on technology and where efficiency with depth becomes more and more important we are here to assist Business, Non Profit and Individual needs with the key Values of Clients Services, Experience, Continual Improvement, and Knowledge. For more information connect with us at info@dcarsoncpa.com
Friday, September 30, 2011
TFOG: IRS Entertainment Taxes - New 2011 IRS Rule on Deduction of Qualified Film and Television Productions Iss + Eff 9/29/11 (w/ some retro appl.)
Today from Our Government (TFOG hereafter) - New 2011 IRS Final Rule for Deduction of Qualified Film and Television Production Credits Issued and Effective 9/29/11 (with some retroactive components - read to find - RTF here after).
Note: As always if the below doc appears with symbols, simply refresh inside the doc window and the text will be restored.
2011 New IRS Final Rule Deduction for Qualified Film + TV Production Costs Iss + Eff 9/29/11
Note: As always if the below doc appears with symbols, simply refresh inside the doc window and the text will be restored.
2011 New IRS Final Rule Deduction for Qualified Film + TV Production Costs Iss + Eff 9/29/11
Thursday, September 29, 2011
IRS Final Rule on Use of Actuarial Tables Iss + Eff 8/10/11
IRS Final Rule Issued and Effective 8/10/11 on Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of Years, and Remainder or Reversionary Interests.
Note: if the rule below appears with symbols, simply refresh in document browser window to reformat text and clarify.
IRS Final Reg. Use of Actuarial Tables in Valuing Annuities Iss +Eff 8-10-11
DCarsonCPA.com is your Traditional and Strategic (Advisory) CPA Services solution focused on Client Services with knowledge and providing a strong connection to compliance. We help you better connect on Accounting and Reporting at the intersection of Accounting, Reporting, Compliance and more. With Hands on Expertise, knowledge, research and alliances to broadly support your needs. We are a SMART solution here to help you consider the (many) ways we can support you on services. Reach us at info@dcarsoncpa.com
Note: if the rule below appears with symbols, simply refresh in document browser window to reformat text and clarify.
IRS Final Reg. Use of Actuarial Tables in Valuing Annuities Iss +Eff 8-10-11
DCarsonCPA.com is your Traditional and Strategic (Advisory) CPA Services solution focused on Client Services with knowledge and providing a strong connection to compliance. We help you better connect on Accounting and Reporting at the intersection of Accounting, Reporting, Compliance and more. With Hands on Expertise, knowledge, research and alliances to broadly support your needs. We are a SMART solution here to help you consider the (many) ways we can support you on services. Reach us at info@dcarsoncpa.com
SEC Rules from Dodd-Franks Large Trader Rules, Final Rule Iss 8-3-11, Eff 10-3-11
Watching Dodd-Franks Final Rules, here is SEC Final Rule on Large Trader's as issued on 8/3/11 and Effective at 10/3/11. Re: Broker-Dealers
Note: If the Document below appears with symbols simply refresh within the browser to clarify as text.
SEC Large Trader Reporting Rules Eff 10-3-11
DCarsonCPA.com we follow Regulations at the intersection of Accounting, Reporting, Taxation, Compliance and other needs. We also follow FASB Accounting Standards Codifications (US GAAP), IASB IFRS, OCBOA, Finance, Technology, Tax Laws and more to best support Client needs both for current reporting and better participation in the active dialogue about Regulations and Standards that pertain to Accounting and Reporting on the road ahead. Our Client's interests are our interests and we value the Art of Client Service - we are here to assist Businesses, Non-Profits and Individuals. Reach us at info@dcarsoncpa.com
Note: If the Document below appears with symbols simply refresh within the browser to clarify as text.
SEC Large Trader Reporting Rules Eff 10-3-11
DCarsonCPA.com we follow Regulations at the intersection of Accounting, Reporting, Taxation, Compliance and other needs. We also follow FASB Accounting Standards Codifications (US GAAP), IASB IFRS, OCBOA, Finance, Technology, Tax Laws and more to best support Client needs both for current reporting and better participation in the active dialogue about Regulations and Standards that pertain to Accounting and Reporting on the road ahead. Our Client's interests are our interests and we value the Art of Client Service - we are here to assist Businesses, Non-Profits and Individuals. Reach us at info@dcarsoncpa.com
Tuesday, September 27, 2011
Following evolutions in Rules as the SEC adopts (comparatively new) FASB ASCs.
The way that our Laws and Rules work are not to much different then computer programming under C++, VB or other programming Languages. First we identify a property, introduce the principle to the Code and then we incorporate it by reference to Rule of Law. It's the exact same process to bring FASB ASC to SEC Rules this is fun to watch as FASB ASC was a great evolution in the ready portability of GAAP that is opening the way for innovation in other areas. In a soon to follow entry we will discuss this more. In the meantime we introduce to you recent SEC Rules adopting FASB ASC by rescinding and revising certain provisions of SEC SABs (Staff Accounting Bulletins) to more thoroughly incorporate FASB ASC. For your reviewing interest and in greater appreciation of FASB ASC as a monumental evolution in GAAP we are also providing you with a reference to the initial SEC Rule incorporating FASB ASC eff at 9-25-09 (an eon ago in this Economy, but not really all that long ago in the evolution of GAAP and SEC Rules).
Notes:
FASB ASC was the evolution of US GAAP from Standards to Codification in a more readily usable format, A favorable evolution in GAAP that cam from consideration of IFRS Convergence.
SEC SABs pertain to SEC Accounting, they are Staff Accounting Bulletins, the Accounting Guidelines for Accounting at the SEC as we understand it. Other Rules deal with the Regulated Entities, this Rule set is about actual Accounting work at the SEC.
We shared this out of appreciation for the evolutions in GAAP under FASB ASC and the interest of observing how GAAP becomes incorporated in US Regulation. We hope you enjoy following with us where GAAP meets Regulatory Accounting under SEC Rules in this case and in other areas like Tax Law, Employment Law, Pensions and more to follow.
** Remember to Refresh Page if you are seeing symbols in the Text Below for best results refresh within the screen **
Below please find:
SEC revises / rescinds elements of SABs to conform to GAAP eff 3/28/11.
SEC Revises and Rescinds Portions of SABs to Conform With GAAP via FASB ASC Eff 3-28-11
Original SEC Rule to incorporate FASB ASCs as a basis of Accounting eff 9/29/09.
Sec Accepts Fasb Asc Eff 9-25-09
Notes:
FASB ASC was the evolution of US GAAP from Standards to Codification in a more readily usable format, A favorable evolution in GAAP that cam from consideration of IFRS Convergence.
SEC SABs pertain to SEC Accounting, they are Staff Accounting Bulletins, the Accounting Guidelines for Accounting at the SEC as we understand it. Other Rules deal with the Regulated Entities, this Rule set is about actual Accounting work at the SEC.
We shared this out of appreciation for the evolutions in GAAP under FASB ASC and the interest of observing how GAAP becomes incorporated in US Regulation. We hope you enjoy following with us where GAAP meets Regulatory Accounting under SEC Rules in this case and in other areas like Tax Law, Employment Law, Pensions and more to follow.
** Remember to Refresh Page if you are seeing symbols in the Text Below for best results refresh within the screen **
Below please find:
SEC revises / rescinds elements of SABs to conform to GAAP eff 3/28/11.
SEC Revises and Rescinds Portions of SABs to Conform With GAAP via FASB ASC Eff 3-28-11
Original SEC Rule to incorporate FASB ASCs as a basis of Accounting eff 9/29/09.
Sec Accepts Fasb Asc Eff 9-25-09
Bills in Congress to Repeal Dodd-Franks as Congress begins introducing the key "Cost-Benefit" constraint of Accounting Standards setting from FASB
Introduced to Congress in the First Quarter of 2011 were the below House and Senate bills to Repeal Dodd-Franks these bills have been placed with the House Finance, and various other House Committees for review (see bill for details), and with the Senate Finance Committee.
A Press Release from Senator Shelbys Office recently mentioned the Senate bill on September 22, 2011. This has surely also been communicated from the House and Senate Committees but this is where we are connecting to share with you. The press release from Senator Shelby's Office describes that the Cost-Benefit Constraint is being used in governmental correspondence which is a great sign that the thoughts are reaching Legislation, a step which will help us looking forward as a Nation to face and manage down the Debts and Deficits looking forward. One key way to help reduce Debts and Deficits is to promote jobs and get the Tax base moving again.
We support reasonable and rational efforts to get America back to work. A near 20% real unemployment rate in this country is not the "new" norm - it's a problem to be fixed with great urgency and careful consideration - a real challenge for ALL and your thoughts can help.
Returning to the consideration of these Bills and the Cost of Regulations, one of the key reasons we tuned in on this is we have been mentioning on twitter for some time the need to connect (overall) regulation at the Federal, State and Local levels to the Accounting measure of the Cost-Benefit Constraint (*) - the point where the benefit matches the cost. In the press release they used this specific terminology (on twitter) so we can see that the Legislature is tuned into the voice of constituents. The focusing of a cost-benefit measure in Legislation is not to eliminate all laws and rules,rather it is to work with a reasonable constraint that more efficiently and effectively plots a course for sustainable Public Finance and helps on reduction of the Debts and Deficits through Targeting the Efficiency of Government Legislation. Not to mention permitting Capital Markets to exist in a framework of reasonable Legislation, but not excessive Legislation. Regulation is a cost driver on Businesses and the Regulations should balance the need to protect citizens and also allow citizens to conduct business in a reasonable and ethical manner. Further, as all Businesses, Non Profits and Individuals exist with constraints and we need to find a way to bring this awareness to Legislation.
You can promote the debate on this in either direction by voicing your concerns to Congress at the House or Senate (reference the bills below for clarity). We think in general that a move towards cost-benefit constraints would help but to be fair the bills mention only repeal of Dodd-Franks at first read.
Note:
(*) The Cost-Benefit Constraint is part of the Conceptual Framework that has been historically used to develop FASB / US GAAP - the Standards we use in Accounting and Financial Reporting. You can make a strong case that due to the Financial Relevancy of Regulation to Finances that a similar framework should pertain to regulatory standards development.
The Cost-Benefit Constraint is not mentioned in these bills themselves however, Senator Shelby's press release brought it in as part of the discussion.
These bills are simple in measure to reduce Regulatory burden with broad repeal which would conceivably allow for the reconsideration of all regulatory measures at a future point. That future point now seems to be with a pre-implementation consideration of a cost-benefit constraint analysis.
Last Note: In general the perspective we share is that a certain degree of regulation is beneficial to protect the Nation, the Population, Investors and Businesses. You make your own decisions and pursue the path that best represents your position. This proposal is an opportunity to revisit the process of Regulation in the future and remove barriers to business in Regulation currently. The best point for any Regulation from an Accounting, Economic and Financial perspective, is most acceptable and sustainable at the cost-benefit constraint where the value to the community balances the cost of implementation.
Their simplicity in thought to Repeal is a stark contrast to the complexity we are all currentlty adapting to under Dodd-Franks.
Below please find the bills for your consideration,
The House bill referred to the Finance and other Committees:
Bills 112hr87ih
The Senate Version currently with the Finance Committee
Bills 112s712is
As always at DCarsonCPA.com our purpose is to better connect the line between Government, Industry, Business, Non Profits and Individuals to better support Client Services. Our overall position is non-partisan, but we will from time to time provide an Accounting / Finance perspective that we hope adds value for your insight and interest. Our primary focus is Accounting, Taxation, Compliance, Operations and bringing Clients greater insight through Financials - ALL Financials have a Regulatory component through Taxes and other aspect like Labor / Employment and other rules in your specific Industry - SEC / FINRA, Banking Et. al...
We connect the line with Research to better support your Accounting, Reporting, Finances and more. We want you to be good consumers of Financial Information in the holistic sense of the word and we take the time to explain for Clients.
A Press Release from Senator Shelbys Office recently mentioned the Senate bill on September 22, 2011. This has surely also been communicated from the House and Senate Committees but this is where we are connecting to share with you. The press release from Senator Shelby's Office describes that the Cost-Benefit Constraint is being used in governmental correspondence which is a great sign that the thoughts are reaching Legislation, a step which will help us looking forward as a Nation to face and manage down the Debts and Deficits looking forward. One key way to help reduce Debts and Deficits is to promote jobs and get the Tax base moving again.
We support reasonable and rational efforts to get America back to work. A near 20% real unemployment rate in this country is not the "new" norm - it's a problem to be fixed with great urgency and careful consideration - a real challenge for ALL and your thoughts can help.
Returning to the consideration of these Bills and the Cost of Regulations, one of the key reasons we tuned in on this is we have been mentioning on twitter for some time the need to connect (overall) regulation at the Federal, State and Local levels to the Accounting measure of the Cost-Benefit Constraint (*) - the point where the benefit matches the cost. In the press release they used this specific terminology (on twitter) so we can see that the Legislature is tuned into the voice of constituents. The focusing of a cost-benefit measure in Legislation is not to eliminate all laws and rules,rather it is to work with a reasonable constraint that more efficiently and effectively plots a course for sustainable Public Finance and helps on reduction of the Debts and Deficits through Targeting the Efficiency of Government Legislation. Not to mention permitting Capital Markets to exist in a framework of reasonable Legislation, but not excessive Legislation. Regulation is a cost driver on Businesses and the Regulations should balance the need to protect citizens and also allow citizens to conduct business in a reasonable and ethical manner. Further, as all Businesses, Non Profits and Individuals exist with constraints and we need to find a way to bring this awareness to Legislation.
You can promote the debate on this in either direction by voicing your concerns to Congress at the House or Senate (reference the bills below for clarity). We think in general that a move towards cost-benefit constraints would help but to be fair the bills mention only repeal of Dodd-Franks at first read.
Note:
(*) The Cost-Benefit Constraint is part of the Conceptual Framework that has been historically used to develop FASB / US GAAP - the Standards we use in Accounting and Financial Reporting. You can make a strong case that due to the Financial Relevancy of Regulation to Finances that a similar framework should pertain to regulatory standards development.
The Cost-Benefit Constraint is not mentioned in these bills themselves however, Senator Shelby's press release brought it in as part of the discussion.
These bills are simple in measure to reduce Regulatory burden with broad repeal which would conceivably allow for the reconsideration of all regulatory measures at a future point. That future point now seems to be with a pre-implementation consideration of a cost-benefit constraint analysis.
Last Note: In general the perspective we share is that a certain degree of regulation is beneficial to protect the Nation, the Population, Investors and Businesses. You make your own decisions and pursue the path that best represents your position. This proposal is an opportunity to revisit the process of Regulation in the future and remove barriers to business in Regulation currently. The best point for any Regulation from an Accounting, Economic and Financial perspective, is most acceptable and sustainable at the cost-benefit constraint where the value to the community balances the cost of implementation.
Their simplicity in thought to Repeal is a stark contrast to the complexity we are all currentlty adapting to under Dodd-Franks.
Below please find the bills for your consideration,
The House bill referred to the Finance and other Committees:
Bills 112hr87ih
The Senate Version currently with the Finance Committee
Bills 112s712is
As always at DCarsonCPA.com our purpose is to better connect the line between Government, Industry, Business, Non Profits and Individuals to better support Client Services. Our overall position is non-partisan, but we will from time to time provide an Accounting / Finance perspective that we hope adds value for your insight and interest. Our primary focus is Accounting, Taxation, Compliance, Operations and bringing Clients greater insight through Financials - ALL Financials have a Regulatory component through Taxes and other aspect like Labor / Employment and other rules in your specific Industry - SEC / FINRA, Banking Et. al...
We connect the line with Research to better support your Accounting, Reporting, Finances and more. We want you to be good consumers of Financial Information in the holistic sense of the word and we take the time to explain for Clients.
Sunday, September 25, 2011
Pathways to Funding for Non For Profits (and other needs)
Frequently changes in the economy lead to awakenings and changes in career plans, what may look like a set back in the Job Market may yield way to an opportunity you've been thinking about for a while, possibly the opportunity to work for a bigger cause with a reciprocal value for the community. Maybe you have seen a need in your community where you can help or possibly you have scientific or medical skills and are looking to connect with Research Opportunities and Funding.
If you are looking to find pathways to pursuing a Non For Profit mission or other needs in Financing where your mission involves a beneficial cause or may be able to meet purpose driven funding, you can start by looking into:
www.Grants.gov for Federal Funding Grants
and
www.foundationcenter.org a Non Profit Organization focused on Philanthropy and the efficient connections between Grant Makers and Grant Seekers. Foundation Center has a NY, SF and other location Offices that you can find on their website. They provide support services or connection to support services that can help you better understand the road work in philantropic organizations.
Grants and Funding from the Public and Private Sector are important ways that you can finance your socially beneficial cause, research, scientific study or education. If you are interested in starting a Non Profit you should use these sites as starting points and begin to consider a plan for your Non Profit, which will include filing with the IRS to obtain an official status as a Non Profit which will open the pathway to Tax Exemption under IRC § 501 (c) or related areas in the IRC provided your plan meets valid purposes under the code.
After obtaining the IRC § 501 (c) status from the IRS you are in a position to pursue Tax Deductible Contributions and certain Grants that may pertain to your needs. You will also have compliance requirements on Financials and Operations to demonstrate that you have Internal Controls and that you are using funding for your designated cause as you begin to recieve Grants and Donations.
This is just our First Blog Entry in the Non Profit Fund Raising direction and we encourage you to follow the links provided to learn more about Non Profits, Grants and Fund Making. We will be sharing more information over time through our blog to help you better pursue your interests in socially beneficial work.
DCarsonCPA.com we are a CPA Practice here to support Non Profits, Businesses and Individual needs in Accounting, Finance, Operations, Compliance and more. We connect the line between Government, Industry, Businesses, Non Profits and Individuals as a resource for both Traditional and Strategic CPA Services. We can bring you efficient services that work with your financial framework and are consistently building knowledge to better support your Non Profits needs. Our Practice is built on 15 years Investment Banking, Financial Services and General Business Operations with strong skills in Compliance, the ability to connect directly with relevant Federal, State and Local Laws for Accounting and Compliance needs to best support your needs. Reach us at info@dcarsoncpa.com .
If you are looking to find pathways to pursuing a Non For Profit mission or other needs in Financing where your mission involves a beneficial cause or may be able to meet purpose driven funding, you can start by looking into:
www.Grants.gov for Federal Funding Grants
and
www.foundationcenter.org a Non Profit Organization focused on Philanthropy and the efficient connections between Grant Makers and Grant Seekers. Foundation Center has a NY, SF and other location Offices that you can find on their website. They provide support services or connection to support services that can help you better understand the road work in philantropic organizations.
Grants and Funding from the Public and Private Sector are important ways that you can finance your socially beneficial cause, research, scientific study or education. If you are interested in starting a Non Profit you should use these sites as starting points and begin to consider a plan for your Non Profit, which will include filing with the IRS to obtain an official status as a Non Profit which will open the pathway to Tax Exemption under IRC § 501 (c) or related areas in the IRC provided your plan meets valid purposes under the code.
After obtaining the IRC § 501 (c) status from the IRS you are in a position to pursue Tax Deductible Contributions and certain Grants that may pertain to your needs. You will also have compliance requirements on Financials and Operations to demonstrate that you have Internal Controls and that you are using funding for your designated cause as you begin to recieve Grants and Donations.
This is just our First Blog Entry in the Non Profit Fund Raising direction and we encourage you to follow the links provided to learn more about Non Profits, Grants and Fund Making. We will be sharing more information over time through our blog to help you better pursue your interests in socially beneficial work.
DCarsonCPA.com we are a CPA Practice here to support Non Profits, Businesses and Individual needs in Accounting, Finance, Operations, Compliance and more. We connect the line between Government, Industry, Businesses, Non Profits and Individuals as a resource for both Traditional and Strategic CPA Services. We can bring you efficient services that work with your financial framework and are consistently building knowledge to better support your Non Profits needs. Our Practice is built on 15 years Investment Banking, Financial Services and General Business Operations with strong skills in Compliance, the ability to connect directly with relevant Federal, State and Local Laws for Accounting and Compliance needs to best support your needs. Reach us at info@dcarsoncpa.com .
Saturday, September 24, 2011
Introducing the New State Line for Connecticut - DCarsonCPA.com The Oak Lines
We have opened up Our New Blog Line DCarsonCPA.com - The Oak Lines for Our Connecticut Facing Services - Join us there if you have corresponding Business, Non Profit or Individual needs.
DCarsonCPA.com Our Practice is about better connecting with Clients, We value Client Services and use our insight to Government, Industry, Business, Non Profit and Individual Accounting and Finances and related interests to better support Client needs. We cover the broad raServices.nge of needs from Complex to straight forward with both Strategic (Advisory) and Traditional CPA Services.
DCarsonCPA.com Our Practice is about better connecting with Clients, We value Client Services and use our insight to Government, Industry, Business, Non Profit and Individual Accounting and Finances and related interests to better support Client needs. We cover the broad raServices.nge of needs from Complex to straight forward with both Strategic (Advisory) and Traditional CPA Services.
IRC Rule Making 2011 - Start Up Expense Amortization for Businesses as issued on 8-16-11 and corrected by IRS at 9-15-11 eff. 8-16-11
The IRS issued updated rules on 8-16-11 to address the treatment of Business Start Up Expenses, the original rules in Update to IRC along with the Update/ Correction when considered together provide the newly updated Tax Rules for Treating Business Start Up Expenses as of 8/16/11.
DCarsonCPA.com here to assist you on Business, Non Profit and Individual Taxes. We follow updates in Tax Laws and Rule Making to better support Clients on Taxes and Compliance(ie Dodd-ranks and related areas). In your Industry with your Business and following developments in Federal, State and Local Governance that pertain to Accounting, Finance and other related interests.
Note: In the event that the below docs load with any symbols on headers, simply refresh your browser for best results.
CFR IRC Title 26 updates 8-16-11 IRS Elections Regarding Start Up Expenses eff 8-16-11
CFR IRC Title 26 9-15-11 IRS Corrections to Amend Elections on Start Up Expenses
DCarsonCPA.com here to assist you on Business, Non Profit and Individual Taxes. We follow updates in Tax Laws and Rule Making to better support Clients on Taxes and Compliance(ie Dodd-ranks and related areas). In your Industry with your Business and following developments in Federal, State and Local Governance that pertain to Accounting, Finance and other related interests.
Note: In the event that the below docs load with any symbols on headers, simply refresh your browser for best results.
CFR IRC Title 26 updates 8-16-11 IRS Elections Regarding Start Up Expenses eff 8-16-11
CFR IRC Title 26 9-15-11 IRS Corrections to Amend Elections on Start Up Expenses
IRS Amendments to Acquisition Accounting via Rule Making 8/1/11 Eff 8/31/11 re Mergers and Acquisitions (M&A) + as corrected at 8/30/11 by IRS
On 8/1/11 the IRS Updated Tax rules pertanent to Acquisition Accounting Methods for Acquiring Corps (and subsequently corrected them on 8/30/11) the citations below capture the 8/31/11 effective updates to M&A Tax Basis Accounting for Aquisitions (as issued and as corrected). Both parts must be considered together for completeness and accuracy.
DCarsonCPA.com here to support your M&A and other business needs in Accounting, Taxation, Advisory and more, We are a practice built on hands on Financial Services and General Business expertise.
Note: In the event that the below docs load with any symbols on headers, simply refresh your browser for best results
CFR IRC 8-1-2011 Methods of Accounting for Acquisitions by Aquiring Corps Eff 8-31-11
CFR IRC Update 8-30-11 by IRS to Amend and Correct Accounting by Acquiring Corps Eff 8-31-11
DCarsonCPA.com here to support your M&A and other business needs in Accounting, Taxation, Advisory and more, We are a practice built on hands on Financial Services and General Business expertise.
Note: In the event that the below docs load with any symbols on headers, simply refresh your browser for best results
CFR IRC 8-1-2011 Methods of Accounting for Acquisitions by Aquiring Corps Eff 8-31-11
CFR IRC Update 8-30-11 by IRS to Amend and Correct Accounting by Acquiring Corps Eff 8-31-11
Friday, September 23, 2011
Tuesday, September 20, 2011
Fixing What Needs Fixing in the National, State and Local Economies
We still have a great need as concerned citizens to be productive and supportive on the need for positive and constructive support for Fiscally Responsible Financial Legislation. At the Federal, State and Local levels we face great challenges and unfortunately (for National Finances) an obvious need to now support what wasn't supported in the Bank Bailout. The needs of Individuals, Communities and Businesses - who while indirectly benefiting in theory from the protection of the financial system are now paying high prices in a sinking Economy, with massive Job Losses, the break down of many key elements and an absurd notion that all is well. It may be showing signs of improvement but we need real plans for the National Economy, Jobs and Future Finances that work.
At times we need to reiterate that we are a Nation and when some of Us fail We all fail, it's not about marching on and leaving behind massive segments of Our Population, it's about making bridges and building roads to the future, a Robust National Future where we all have roles to play as a team. We may disagree but at the End of it All Democrat, Republican, Independent or other parties of Political viewpoints - we are all Americans and we need to stand together to succeed.
We look at it from a simple perspective where the obvious answers include the fact that we need to support the National Economy with Agriculture, Manufacturing and Services to broadly represent additional key sub components that include Energy, Health, Math, Science and more. We need to find the efficient pathway where Our Investments through Taxation into the National Trust of Public Finances is treated as a Fiscal Fiduciary Trust with a targeted Financial goal of efficient and effective spending for or Common National Best Interests.
Our Goal is to be Non-Partisan and in any direction it's clear that voting is important this year as most are leaning towards a centrist view that it's time to get to Fixing what's wrong in Public Finance. It will be no easy task, but we need to push for the direction of Sustainable National Finances and keep our eye on the Domestic Economy, we are participants in the World Economy - but Our Greatest ability is to deal with our own problems and to be certain we can be a better assistance to others once we've faced our Domestic Economic challenges with courage and action to bring back a plan for prosperity even in it's already changed form.
At the intersection of Accounting, Finance, Regulations, Executive Branch Rules and Financial Legislation we will try to better understand where Accountants and Analysts can bring value to Public Finance. We have seen some of it already and we hope to promote the positive Solution Set of a knowledge base to support better Fiscally Responsible Fiduciary Legislation that is supported not only with good intentions but with good rational basis in Financial Theory. Economists and Statisticians can help forecast, but still if your looking to manage scarce resources then you need the help from the Accountants and Analysts - we are working in our way to promote constructive ideas and thoughts that help Our Leadership for a better National Financial Future where decision making is better connected to Financial Impact and a target of efficiency in resource allocation. It's a big objective but the place where we all work together is where we can really win on Public Finance.
At times we need to reiterate that we are a Nation and when some of Us fail We all fail, it's not about marching on and leaving behind massive segments of Our Population, it's about making bridges and building roads to the future, a Robust National Future where we all have roles to play as a team. We may disagree but at the End of it All Democrat, Republican, Independent or other parties of Political viewpoints - we are all Americans and we need to stand together to succeed.
We look at it from a simple perspective where the obvious answers include the fact that we need to support the National Economy with Agriculture, Manufacturing and Services to broadly represent additional key sub components that include Energy, Health, Math, Science and more. We need to find the efficient pathway where Our Investments through Taxation into the National Trust of Public Finances is treated as a Fiscal Fiduciary Trust with a targeted Financial goal of efficient and effective spending for or Common National Best Interests.
Our Goal is to be Non-Partisan and in any direction it's clear that voting is important this year as most are leaning towards a centrist view that it's time to get to Fixing what's wrong in Public Finance. It will be no easy task, but we need to push for the direction of Sustainable National Finances and keep our eye on the Domestic Economy, we are participants in the World Economy - but Our Greatest ability is to deal with our own problems and to be certain we can be a better assistance to others once we've faced our Domestic Economic challenges with courage and action to bring back a plan for prosperity even in it's already changed form.
At the intersection of Accounting, Finance, Regulations, Executive Branch Rules and Financial Legislation we will try to better understand where Accountants and Analysts can bring value to Public Finance. We have seen some of it already and we hope to promote the positive Solution Set of a knowledge base to support better Fiscally Responsible Fiduciary Legislation that is supported not only with good intentions but with good rational basis in Financial Theory. Economists and Statisticians can help forecast, but still if your looking to manage scarce resources then you need the help from the Accountants and Analysts - we are working in our way to promote constructive ideas and thoughts that help Our Leadership for a better National Financial Future where decision making is better connected to Financial Impact and a target of efficiency in resource allocation. It's a big objective but the place where we all work together is where we can really win on Public Finance.
Fall 2011 - Where did the Summer Go / a moment of reflection and rememberance.
Two Earthquakes and a Hurricane brought an untimely end to the New York Summer and now we find ourselves in Fall again. The First Few weeks in September moved by and at the occasion of September we all remember too well the innocence that was shaken on that well known date in history, we lived it with you. They did a good job of Remembering those who gave so much for freedom and meeting that challenge with hope for the Future this year at the site, but real and understandable sadness for the losses will always also be a part of it (in testimony to our humanity). The Children that lost so much are deep within our thoughts as are all the others who experienced the extremity of that day.
We didn't want to think about it, other than to share support for those who endured and those who gave so much and for the expectation that Our Nation is doing all it can to defend Our Future. To the Brave Men and Women who serve and Protect, we appreciate ALL that you do for us every day. May we in future times always remember and honor ALL who serve and those who made great sacrifices without knowing what they were facing on that day, and with knowing.
Our Words will never be enough, but it seems very difficult to move forward without acknowledging it all in it's gravity. We live in the Land of the Free and the Home of the Brave, may it always remain as such and may we never forget that as we move forward we have a continued need for vigilance and reasonable defense in protection of ALL that we share in Freedom.
As a Nation we seemed not to have taken that good care of Our Vietnam Veterans, let's make sure that on this round we get it right and preserve and protect those who have bravely defended Our Nation in the years ahead to best honor those who gave all and those who protect.
Our words will never be able to fully express, but if you know that we care then that is enough - we always will. May the thoughts and prayers we send for all in need of support in these key times be well received.
We didn't want to think about it, other than to share support for those who endured and those who gave so much and for the expectation that Our Nation is doing all it can to defend Our Future. To the Brave Men and Women who serve and Protect, we appreciate ALL that you do for us every day. May we in future times always remember and honor ALL who serve and those who made great sacrifices without knowing what they were facing on that day, and with knowing.
Our Words will never be enough, but it seems very difficult to move forward without acknowledging it all in it's gravity. We live in the Land of the Free and the Home of the Brave, may it always remain as such and may we never forget that as we move forward we have a continued need for vigilance and reasonable defense in protection of ALL that we share in Freedom.
As a Nation we seemed not to have taken that good care of Our Vietnam Veterans, let's make sure that on this round we get it right and preserve and protect those who have bravely defended Our Nation in the years ahead to best honor those who gave all and those who protect.
Our words will never be able to fully express, but if you know that we care then that is enough - we always will. May the thoughts and prayers we send for all in need of support in these key times be well received.
Sunday, September 4, 2011
New York Services - Connecting to the New York Services Line
New York and All States (As Available under Statutes)
We are building out our regional services lines for New York, NYC, Manhattan, Queens, Brooklyn and more. The updates are running concurently with work on Connecticut facing support and will be followed with building out the other States and Cities lines which include Texas, California (by Client Request), Massachussetts (later this fall when Mobility is fully functional in MA.) and other States and Cities (ask us about your needs our goal is to support you onsite and virtually as best meets the opportunity).
New York Lines:
Find our New York focused blog at http://dcarsoncpa.com/blog/
The New York Page on Our Web http://dcarsoncpa.com/regions/new_york_-_the_empire_state
New York Twitter Line http://twitter.com/#!/DCarsonCPA_NYC
Where in New York:
We are focused on New York, NYC, Manhattan, Queens, Brooklyn, Westchester, Nassau, Long Beach and more. Note: While this post is Focused on New York, please remember we are also interested in other locations, States and Cities beyond New York and you can learn more by calling or by visiting www.dcarsoncpa.com
In Overview (a Sampling of CPA Services)
CPA Services - Accounting, Taxes, Advisory, Audits, Operations, Financials Accounting Systems, Quickbooks, Peoplesoft, SAP, Cash Flows, Balance Sheets (Statement of Financial Condition), Profit and Loss (Income Statement), Projections, Budgets / Forecasts, Capital Formation, Compliance, Business, Individuals, Non For Profits, and Government Contracting.
Elements: Ledgers, Journals, Trial Balances, Payables (A/P), Receivables (A/R), Schedules, Payroll, Fixed Assets, Formation, Capital Mix, Entries, Liabilities, Assets, Property, Plant & Equipment, Depreciation, Prepaid, Deferred, Accrued, Recognition, Vendors, Clients and much more.
Express track on services info@dcarsoncpa.com or learn more at http://www.dcarsoncpa.com/
We are building out our regional services lines for New York, NYC, Manhattan, Queens, Brooklyn and more. The updates are running concurently with work on Connecticut facing support and will be followed with building out the other States and Cities lines which include Texas, California (by Client Request), Massachussetts (later this fall when Mobility is fully functional in MA.) and other States and Cities (ask us about your needs our goal is to support you onsite and virtually as best meets the opportunity).
New York Lines:
Find our New York focused blog at http://dcarsoncpa.com/blog/
The New York Page on Our Web http://dcarsoncpa.com/regions/new_york_-_the_empire_state
New York Twitter Line http://twitter.com/#!/DCarsonCPA_NYC
Where in New York:
We are focused on New York, NYC, Manhattan, Queens, Brooklyn, Westchester, Nassau, Long Beach and more. Note: While this post is Focused on New York, please remember we are also interested in other locations, States and Cities beyond New York and you can learn more by calling or by visiting www.dcarsoncpa.com
In Overview (a Sampling of CPA Services)
CPA Services - Accounting, Taxes, Advisory, Audits, Operations, Financials Accounting Systems, Quickbooks, Peoplesoft, SAP, Cash Flows, Balance Sheets (Statement of Financial Condition), Profit and Loss (Income Statement), Projections, Budgets / Forecasts, Capital Formation, Compliance, Business, Individuals, Non For Profits, and Government Contracting.
Elements: Ledgers, Journals, Trial Balances, Payables (A/P), Receivables (A/R), Schedules, Payroll, Fixed Assets, Formation, Capital Mix, Entries, Liabilities, Assets, Property, Plant & Equipment, Depreciation, Prepaid, Deferred, Accrued, Recognition, Vendors, Clients and much more.
Express track on services info@dcarsoncpa.com or learn more at http://www.dcarsoncpa.com/
Thursday, September 1, 2011
Fixing the Supplier Portal - A Brief Introduction to some concerns in the Vendor Supply line for Larger and Mid-Sized Financial Companies.
Status = Draft under Review but shared for current economic relevancy on Expenses and Jobs facilitation:
I have observed Accounts Payable (A/P) and Vendor Management for years now on Expenses, with hands on expertise from the ground up, the knowledge and insight that grows from working on a cross section of Fortune 500, medium and boutique Entities. Accounts Payable is of key importance and is a widely overlooked area in Accounting Operations considering that by my estimate 80% or more of your Financial Statements are being built out from A/P. As you gain experience working in the operations, management and re-engineering of Expenses you gain an appreciation for the key points where you can find efficiency and many people work around, rather than with the efficiency they can gain in Accounts Payable. Potentially becase it's better understood when you've worked with it.
Your Accounts Payable staff is a key and integral part of your Accounting Operations that benefits from the training and tools you give them to work with - we'll discuss it more on the road ahead. This Entry is Focused on Supplier Portals, as a starting point for Vendor relations and efficiency. A Supplier Portal is an origin point for Vendor Relations that subsequnetly evolve to create Vendor Expenses that will in turn be entered to Accounts Payable and at that point become a key part of your Entities Financial Statements through Expenses.
Correctly implemented Supplier Services Portals save Acconts Payable Operations time for Operations on IRS W-9 Form 1099 requirements (add efficiency on Taxes and Financials).
One of the efficiencies gained with the Supplier Portal is the automated ability to cover IRS W-9 Reporting Requirements in support of 1099s at the begining of the process. Historically W-9s have always been a drag point and time consumptive drain on resources as Vendor Management pursued Vendors to complete files on new vendors each year in the 1099 process. That's one improvement that is surely appreciatted by Accounts Payable and Tax Staff in Entity Operations. Like any process it's alway harder to get what you need after a transaction has expired - so where vendors had brief interaction following up on W-9s would become a time draining process, especially when your prime objective was other end of year needs. With the advent of vendor portals that mandate W-9s this process can be automated and add greater efficiency to poerations.
But what are the Challenges for the Supplier (Vendor) and the Entity in Economically Efficient sourcing (of suppliers)?, The Other Business Case for Efficient Portals - Matching a Buyer and Seller with better price points to save on resources through convenience and broadened competition.
Recently more directly using Portals from the perspective of an incoming Supplier, I became focused on the inefficiency of Supplier Service Portals in their current iterations. The Concept of a Supplier Portal is a strong one with great potential, however in execution Supplier Service Portals have a ways to go. For the past couple of days I have been specifically dealing with this problem so I wanted to bring it in for consideration.
This entry is still in the work up phase, and I'll draw in examples soon - but my own experience in business is really enough in sufficiency to readily support this one with prima facie evidence of experience with the portals. And the easy to reach economic inference that there is costly inefficiency still remaining to be engineered in the Vendor Services interface/ automation pipeline.
At the core of any Business are the Economics of Efficiency, it's the area that Management Consultants and Accounting and Finance Professionals continually revisit for re-engineering so it's suprising that such a fertile opportunity for re-engineering has not been covered yet - but then again not. Let's explore this a bit if we may.
Consider the Financial Services Industry where Technology takes a key role, and the match up between a Buyer and Seller is measured in nano-seconds for efficiency and time is at it's greatest value. This is the Revenues End of a Financial Services Business where the time value of information results in gains and losses and the leader with the best information insight makes the best gains on Trades. On the expenses end of this same Business is an archaic system of matching Vendors (Suppliers) to workflow that is only marginally improving in these challenging times.
In it's fundamental functionality a Supplier interface works as a portal to upload data - but what happens thereafter still seems an open area for efficiency Engineering in the match up of a Buyer and Seller with Economic Efficiency. This is clear to understand when you consider that the connection between Vendors and a Financial Entity. Vendors drive Expenses at a fairly healthy level of Financial Services Expenses in the P&L behind Employment Costs and Facilities. Opportunities to find efficiency by connecting Financial Services businesses to Medium and Small sized Domestic Solutions can be a key step in added savings for Corporations especially with the current supply of Labor and the need to grow new start ups in the Economy.
The Re-Engineering of Supplier Services Portals can work to a dual benefit - in the first case to help the Corporation competitively shop for better value, second case to promote the development of competitive medium and small sized supplier services that can reduce Corporate Expenses and Increase Corporate Profitability.
In the greater pursuit of maximizing shareholder wealth, finding renewed efficiency and effectively utilized automation in vendor portals is an open avenue for continued engineering in challenging times to reduce costs through broader and more competitive options on supplier services / vendor support.
We will be workshopping this post but the essence of the post is to place the thought on the table for you better consideration - sometimes the observation is so fundamental in it's truth that you dimish the point if it becomes overstudied - seeing is believing in this case and experiencing is knowing. We have seen it and experienced it as a process that while great in concept is ready for additional engineering to fully utilize and meet savings for Corporations through greater vendor competition, supplier diversity or what other title you may wish to place upon it.
I have observed Accounts Payable (A/P) and Vendor Management for years now on Expenses, with hands on expertise from the ground up, the knowledge and insight that grows from working on a cross section of Fortune 500, medium and boutique Entities. Accounts Payable is of key importance and is a widely overlooked area in Accounting Operations considering that by my estimate 80% or more of your Financial Statements are being built out from A/P. As you gain experience working in the operations, management and re-engineering of Expenses you gain an appreciation for the key points where you can find efficiency and many people work around, rather than with the efficiency they can gain in Accounts Payable. Potentially becase it's better understood when you've worked with it.
Your Accounts Payable staff is a key and integral part of your Accounting Operations that benefits from the training and tools you give them to work with - we'll discuss it more on the road ahead. This Entry is Focused on Supplier Portals, as a starting point for Vendor relations and efficiency. A Supplier Portal is an origin point for Vendor Relations that subsequnetly evolve to create Vendor Expenses that will in turn be entered to Accounts Payable and at that point become a key part of your Entities Financial Statements through Expenses.
Correctly implemented Supplier Services Portals save Acconts Payable Operations time for Operations on IRS W-9 Form 1099 requirements (add efficiency on Taxes and Financials).
One of the efficiencies gained with the Supplier Portal is the automated ability to cover IRS W-9 Reporting Requirements in support of 1099s at the begining of the process. Historically W-9s have always been a drag point and time consumptive drain on resources as Vendor Management pursued Vendors to complete files on new vendors each year in the 1099 process. That's one improvement that is surely appreciatted by Accounts Payable and Tax Staff in Entity Operations. Like any process it's alway harder to get what you need after a transaction has expired - so where vendors had brief interaction following up on W-9s would become a time draining process, especially when your prime objective was other end of year needs. With the advent of vendor portals that mandate W-9s this process can be automated and add greater efficiency to poerations.
But what are the Challenges for the Supplier (Vendor) and the Entity in Economically Efficient sourcing (of suppliers)?, The Other Business Case for Efficient Portals - Matching a Buyer and Seller with better price points to save on resources through convenience and broadened competition.
Recently more directly using Portals from the perspective of an incoming Supplier, I became focused on the inefficiency of Supplier Service Portals in their current iterations. The Concept of a Supplier Portal is a strong one with great potential, however in execution Supplier Service Portals have a ways to go. For the past couple of days I have been specifically dealing with this problem so I wanted to bring it in for consideration.
This entry is still in the work up phase, and I'll draw in examples soon - but my own experience in business is really enough in sufficiency to readily support this one with prima facie evidence of experience with the portals. And the easy to reach economic inference that there is costly inefficiency still remaining to be engineered in the Vendor Services interface/ automation pipeline.
At the core of any Business are the Economics of Efficiency, it's the area that Management Consultants and Accounting and Finance Professionals continually revisit for re-engineering so it's suprising that such a fertile opportunity for re-engineering has not been covered yet - but then again not. Let's explore this a bit if we may.
Consider the Financial Services Industry where Technology takes a key role, and the match up between a Buyer and Seller is measured in nano-seconds for efficiency and time is at it's greatest value. This is the Revenues End of a Financial Services Business where the time value of information results in gains and losses and the leader with the best information insight makes the best gains on Trades. On the expenses end of this same Business is an archaic system of matching Vendors (Suppliers) to workflow that is only marginally improving in these challenging times.
In it's fundamental functionality a Supplier interface works as a portal to upload data - but what happens thereafter still seems an open area for efficiency Engineering in the match up of a Buyer and Seller with Economic Efficiency. This is clear to understand when you consider that the connection between Vendors and a Financial Entity. Vendors drive Expenses at a fairly healthy level of Financial Services Expenses in the P&L behind Employment Costs and Facilities. Opportunities to find efficiency by connecting Financial Services businesses to Medium and Small sized Domestic Solutions can be a key step in added savings for Corporations especially with the current supply of Labor and the need to grow new start ups in the Economy.
The Re-Engineering of Supplier Services Portals can work to a dual benefit - in the first case to help the Corporation competitively shop for better value, second case to promote the development of competitive medium and small sized supplier services that can reduce Corporate Expenses and Increase Corporate Profitability.
In the greater pursuit of maximizing shareholder wealth, finding renewed efficiency and effectively utilized automation in vendor portals is an open avenue for continued engineering in challenging times to reduce costs through broader and more competitive options on supplier services / vendor support.
We will be workshopping this post but the essence of the post is to place the thought on the table for you better consideration - sometimes the observation is so fundamental in it's truth that you dimish the point if it becomes overstudied - seeing is believing in this case and experiencing is knowing. We have seen it and experienced it as a process that while great in concept is ready for additional engineering to fully utilize and meet savings for Corporations through greater vendor competition, supplier diversity or what other title you may wish to place upon it.
The Tri-Point Nature of a Bankruptcy - reaching out on the Lehman Proceedings (to Consider Assets), observation of a separate case that never went to Court and the Case for Legal Representation, Accounting and Financial Reporting
Any Bankruptcy Case in Court has a "Tri-Point" nature - The Trustee, the Debtor and the Creditor and an underlying commonality - it's about Revenues, Expenses, Employees, Assets, Liabilities, Negative Net Equity or the "inability" to meet current expenses as they come due. In the case of the Lehman proceedings it's about the Estate and a Full Accounting of Assets in what is the Largest Corporate Bankruptcy Proceeding the Nation has known. The Fallout from the near collapse of the US Banking System that was prevented by the bailout and more.
Lehman:
A brief history of the overall Lehman Entity (that has not been vetted for accuracy by us.. can be found at http://en.wikipedia.org/wiki/Lehman_Brothers) if we find a better source we will update...it provides a general overview of what was once a key bank and is now a key challenge to Legal Professionals.
The Lehman docket has been posted online at http://www.lehman-docket.com/
Parties to the Lehman Case (beyond Lehman itself):
In rough overview (this is not complete but is roughly and approximately correct at present) the respected parties are The Trustee Firm is Attorney Firm Hughes-Hubbard's under Trustee James W. Giddens, The Debtor lead Attorney Firm Weil, Gotshal & Manges and their representative on non-legal operations / accounting workflow is Alvarez- Marsal ( a global professional services firm) and the Creditor Attorney Firm is Millbank.
The Presiding Judge in NY Bankruptcy Court is the Honorable Judge James M. Peck.
Assets in the Estate:
In a subtle (and certainly non-distractive) way I was hoping to contact the parties to the Lehman Case discuss the completeness of the Assets under Accounting in the Case. I was hoping to connect with representatives from the Tri-Point group (Trustee - Debtor - Creditor) to see who I may engage on this, but I am as of yet awaiting a call back. This open manner of communication may be effective in encouraging a call back to better discuss Assets. My interest is focused on an opportunity for discussion of additional Assets expectedly not captured in the Estate at present. In Full Disclosure: The Assets in consideration are non-estimable in their current format - but seem relevant to Creditor's interests in the proceedings of the Bankruptcy Estate.
The proceeding is a Bankruptcy under USC Title 11 Bankruptcy for Chapter 11 (Reorganization) where a key event is (expectedly) an Accounting for the Assets of the Bankruptcy Estate. From my own perspective, and if I were a Creditor in the Lehman Case, I would want to know that the Bankruptcy Estate was completely Accounting for Assets - it's a consideration that is worth covering.
Learning through Observing and Supporting:
From my own interest and the greater interest of supporting Attorneys on Bankruptcy Cases for Accounting of Assets or Tax Returns or other needs...it is always interesting to see the other end of the Corporate spectrum when a company is in Insolvency. It makes an important case for Risk Management, Cash Flows Analysis and On-Balance Sheet Accounting of Risk. We can study what went wrong in this Landmark case and grow from the experience to better protect and monitor future Businesses to hopefully avoid the same heavy consequence.
Note: the term "Tri-Point" was created here to note the three parties to Bankruptcy and bears no relevancy in the greater discussion of Bankruptcy, we just went with it as a descriptor.
Key Note: DCarsonCPA is NOT a Law Practice, we are a CPA Practice with a strong interest in supporting Clients including Attorneys on needs for Accounting, Analysis, Financial and Tax Reporting, Valuation, Discovery and more. Some of these needs may include but are not limited to Bankruptcy Cases and other required Case support. You can learn more at http://www.dcarsoncpa.com/ .
Lehman:
A brief history of the overall Lehman Entity (that has not been vetted for accuracy by us.. can be found at http://en.wikipedia.org/wiki/Lehman_Brothers) if we find a better source we will update...it provides a general overview of what was once a key bank and is now a key challenge to Legal Professionals.
The Lehman docket has been posted online at http://www.lehman-docket.com/
Parties to the Lehman Case (beyond Lehman itself):
In rough overview (this is not complete but is roughly and approximately correct at present) the respected parties are The Trustee Firm is Attorney Firm Hughes-Hubbard's under Trustee James W. Giddens, The Debtor lead Attorney Firm Weil, Gotshal & Manges and their representative on non-legal operations / accounting workflow is Alvarez- Marsal ( a global professional services firm) and the Creditor Attorney Firm is Millbank.
The Presiding Judge in NY Bankruptcy Court is the Honorable Judge James M. Peck.
Assets in the Estate:
In a subtle (and certainly non-distractive) way I was hoping to contact the parties to the Lehman Case discuss the completeness of the Assets under Accounting in the Case. I was hoping to connect with representatives from the Tri-Point group (Trustee - Debtor - Creditor) to see who I may engage on this, but I am as of yet awaiting a call back. This open manner of communication may be effective in encouraging a call back to better discuss Assets. My interest is focused on an opportunity for discussion of additional Assets expectedly not captured in the Estate at present. In Full Disclosure: The Assets in consideration are non-estimable in their current format - but seem relevant to Creditor's interests in the proceedings of the Bankruptcy Estate.
The proceeding is a Bankruptcy under USC Title 11 Bankruptcy for Chapter 11 (Reorganization) where a key event is (expectedly) an Accounting for the Assets of the Bankruptcy Estate. From my own perspective, and if I were a Creditor in the Lehman Case, I would want to know that the Bankruptcy Estate was completely Accounting for Assets - it's a consideration that is worth covering.
Learning through Observing and Supporting:
From my own interest and the greater interest of supporting Attorneys on Bankruptcy Cases for Accounting of Assets or Tax Returns or other needs...it is always interesting to see the other end of the Corporate spectrum when a company is in Insolvency. It makes an important case for Risk Management, Cash Flows Analysis and On-Balance Sheet Accounting of Risk. We can study what went wrong in this Landmark case and grow from the experience to better protect and monitor future Businesses to hopefully avoid the same heavy consequence.
The unfortunate Reality is that Bankruptcy is a consistent element of the Business environment and a real and pressing case for Our Public Awareness of the importance of Good Financial Management practices in Business Finance.
A Case for Accounting and Finance support:
Your Accounting, Reporting, Taxes, Budgeting / Forecasting and Cash Flows Management along with Revenues, Expenses, Profitability and Cost Management are ALL elements that can help you avoid Bankruptcy a place that we hope your Business never goes - but a place we can help you at.
Seeing is Believing, a Case that never went to Court aka Why you do need Legal Representation in Bankruptcy:
Cases like Bankruptcy allow you to realize how thin the support network is when it reaches to individuals. I will always recall the real life and tragic experience of seeing a neighbor, a small business owner (who we had no business involvement with at a time when we had no knowledge to assist) - lose it all on a venture to the extent of being removed from her building - it was a rough case of a bad outcome through Insolvency. It brings a sense of the importance of working with Small Business owners to better help them avoid consequences of a similar direction.
The point is not to scare or alarm Entrepreneurs but it does exist as a real life case of Business Risk at the extreme.
The point is not to scare or alarm Entrepreneurs but it does exist as a real life case of Business Risk at the extreme.
Recommendation:
Prepare your Business for Challenges, look at the road ahead and use as much Accounting and Finance preparation as you can for your Accounting, Financials, Budgets/ Forecasts, Cash Flow Analysis and Projections. Call us at http://www.dcarsoncpa.com/ to strengthen your Accounting and Finances in the best case or if you need support in Bankruptcy proceedings for an Accounting of Assets or your Taxes for Business and Individual needs. We care about Businesses and Individuals and we work smart to protect your financial well being with Accounting Insight and Comprehensive Management and Financial Reporting.
Note: the term "Tri-Point" was created here to note the three parties to Bankruptcy and bears no relevancy in the greater discussion of Bankruptcy, we just went with it as a descriptor.
Key Note: DCarsonCPA is NOT a Law Practice, we are a CPA Practice with a strong interest in supporting Clients including Attorneys on needs for Accounting, Analysis, Financial and Tax Reporting, Valuation, Discovery and more. Some of these needs may include but are not limited to Bankruptcy Cases and other required Case support. You can learn more at http://www.dcarsoncpa.com/ .
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