Questions tagged [accounting]
The process or work of keeping financial accounts.
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Payment made by LLC debit/credit card, but order placement done through a personal account [closed]
I recently formed a multi-member LLC, opened its bank account and have its debit/credit cards.
To buy inventories for the business, I logged into eBay/Amazon using my personal account, and then bought ...
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Anti Money Laundering (AML) information on the beneficial owner for clients of a custodian
A custodian bank has a client which is an investment arranger.
The funds of the investment arranger's clients are held at the custodian.
The custodian has flagged one of the investment arranger's ...
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How are non-monetary assets valued in the divorce?
In case of divorce, let's say spouse A purchased an expensive item for $X, when fair value for it at purchase would be $Y, assessed resell value at time of divorce is $Z, and depreciated accounting ...
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When exactly does UK self-assessment tax accrue?
In the UK, "Self-assessed income tax (for those who pay by instalments) will be deemed to accrue evenly over the tax year in which the relevant accounting period ends. The accrual will be
based ...
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Make up a company's financial history
I have a Dutch company that has been in business for about 5 years. When we registered it, we also registered a company in the US. We were advised that we did NOT need to file a tax return since we ...
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What's the point of this partnership template revenue clause?
In this partnership agreement template it states that
The Company will allocate items of income and losses as if the Company were liquidated, its assets sold at their fair market value, and the ...
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If a European bank keeps debiting illegal account management charges, is there a way to block debits or even enforce a SEPA direct debit charge back?
If the European bank at which you have an account keeps debiting illegal account management charges from said account (e.g. an arbitrary 300% of the amount contractually agreed) and doesn't react to ...
user45777
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Is it illegal for an employer to send the W-2 statement of the employee to an accountant (contractor) from a third-party firm?
Is it illegal for an employer to send the employees' W-2 statements (of the employee without their permission) to the accountant (who is a third-party contractor) for the purposes of making the ...
user38388
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A departing director wants to convert his directors loan and owed salary into shares. How do we value the shares, and what are we obliged to pay?
We are raising investment with individual shares valued at £5.
A founder & director is leaving the company and claiming owed salary and directors' loans need to be paid or converted to shares. We ...
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Can U.S. companies legally document stock buybacks as assets?
In the U.S., Jack creates a C-corporation and funds it with $100, receiving 100 shares in return. Greg, a passive investor, then gives the company $900 in exchange for 900 newly issued shares. The ...
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What is penalty for not closing Delaware C-Corp?
I'm a non-US citizen and started Delaware C-Corp in Sep 2021, now I have to pay $400 franchise tax, accountant cost, and closing cost. I don't close this C-corp officially and In the future, If I have ...
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Does a purchase and refund count as a "significant transaction" for HMRC and Companies House?
Consider the following hypothetical scenario. Company A incorporates in the UK on day D. Company A makes a purchase to present a product at a trade show and gauge market interest. It attends the show, ...
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Who is legally accountable for the action of the internal audit of a company?
Who is legally accountable for the action of the internal audit of a company in the U.S.? If the internal audit of a company doesn't do due diligence by not properly auditing the financial documents ...
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Can you get jailed for misreporting numbers to pay less for a billing on behalf of a company because your manager told you to do so?
Can you get jailed for misreporting numbers to pay less for a billing on behalf of a company because your manager told you to do so? Let's say you make up a bunch of numbers to pay 1,500$ instead of 5,...
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Can my accountant bill me for previous work he agreed to perform for free?
Context
I can provide more context to the story (question), but I also want to keep it short. I have been paying my accountant for helping with my corporate taxes for the last 4 years in Toronto. I ...
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Can a private individual issue receipts?
In certain jurisdictions such as Singapore, sole proprietorships must be registered. In these jurisdictions, can a private individual issue receipts?
Perhaps a more specific legal question is: where ...
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Tied into 2 year contract with incompetent accountant (UK)
I'm 7 months into my first Software contract and setup a limited company before hand. I chose a local accountant based on recommedation and am now regretting doing so as communication is very poor (...
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Does a USA bookkeeping or accounting app have to be certified by a regulatory body?
If an accounting/bookkeeping app is developed in the US, and released for use in the same country, is it required by law that it first be certified or reviewed by a regulatory body, for instance to ...
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Simple Definition of CapEx and OpEx for Software Development [closed]
I work as a software developer in the UK for a company headquartered in Canada (not sure if the regulations vary from country to country) and I have to log my time for any work I do as either "CapEx" ...
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In the United States, is there a Governmental Entity that oversees the auditing of various other non-governmental entities? [closed]
Certain businesses, non-profits, organizations, etc (referred to here after as "non-governmental entities") have certain government requirements they have to meet to stay a float; these non-...
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Users Over-Funding Accounts Legal Implications?
Some users of my company's service overfund their account in anticipation, I guess, that they will be using those funds over time. How an I to deal with those funds?
Is it fair to assume that most of ...
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Not depositing cash from business transactions
Is it legal, in the U.S., to not deposit cash proceeding from business transactions, such as real estate rentals or restaurants, so long as those monies are ultimately declared as income to the IRS, ...
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Regulations for stock taking of fixed company assets?
As an European finance/law student, I am currently studying the legal part of the stock taking process of fixed company assets in the United States.
Unfortunately, I could not figure out if there are ...
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