Quote:
Originally Posted by jun
accounting is open to interpretation. just make sure you document your research and your conclusions in your working papers and you should be fine. i wouldn't go as far as calling another CPA firm, though. do you have access to accounting research manager? have you tried calling the national office for your firm?
http://www.rbh.com/pdf/article_mhenry_accounting.pdf will maybe help you get a quick understanding of a joint venture. This may bring in FIN 46R if it meets the requirements to be a VIE.
just throwing things out there.. gotta start somewhere. |
Yup, we have accounting research manager and all it does is regurgitate the same documents we already have, which does not clearly state how to record it. The firm I work at is a LLP with several offices scattered throughout Cali and some in other states.
I actually e-mailed a partner firm to see what they get since nobody I talked to knows how to document a simple transaction in the balance sheet lol. I guess it's so hard because it's not widely practiced or it's a super secret.