Financial Statements:
- Management Reports
- Investor Reports
- Banker's Reports
- Tax Reports
Accounting Software Choices:
SIMPLE
- Single User
- Limited Reporting Options
- Limited Platforms
- Less than $300
MODULAR
- Common (STP, MAS 90, Accpac, Great Plains)
- Upgrade to advanced platforms
- Flexible reporting options
- Flexible chart of accounts
- Divisions, subsidiaries, departments
- Large installed based
- Strong "audit" train
- After market "add-ons"
- Generally $1,000+ per module, $5 - $10k total
Mini/Mainframe/SQL Equipment
- Powerful push and pull information
- Generally upgradable from high-end Win 95 (e.g. Navision Sql)
- Strong support and reporting (IBM 400 and Risc 6000 base)
- Large installed base
- Big players (Aks ManMan, Oracle, Informix, IBM)
Cash and Accrual
- Differences
- Who can use
- Benefits and costs related to each
- Forced changes (if any)
- Effects on financial statements
Formal Financial Statement Reports
- CPA Prepared vs Others
- Levels of reporting
- Compilation - without disclosures
- Compilation - with disclosures
- Review
- Audit
- Changing of Scope
- Future reporting considerations
- The value of enhanced reporting
Software development costs -
- Elections and treatments
- Effects of choices
Reveneu recognition of Software licensing
Mergers and Acquisitions
- Pooling of interest vs Purchase
- Determining fair market value
Tax and Financial Decisions - minimizing unintended consequences
- Surprises
- Fielding a tax audit
- Sales tax issues
- Internet sales and future sales
- International Sales
- FSC/Disc
- Elections
- Foreign tax credits
Minimizing Overall Effective Tax Rates