Recent content by marino

  1. M

    USA Internally Developed Software

    Would you generally expense those costs after the software is placed into service (i.e. Engineering Salaries)? Or can those be amortized over the life as well? Thanks!
  2. M

    USA Fixed / Leased Assets

    My company offers services for ATM Machines where some customers buy the machines outright but we also have agreements where we share on the revenue earned at that location. The agreement is usually for 5 years but they still own the machine. My question is regarding if we should book this...
  3. M

    USA Fixed Assets

    When coming up with a fixed asset capitalization policy, do you look at the price point they are on the individual basis or aggregate. If you buy a material amount of "fixed assets" but their value is only 200 on an individual basis, would this be something you can still capitalize? Thanks...
  4. M

    USA Booking Assets

    Thank you
  5. M

    USA Booking Assets

    Hello, Thanks for the help. I was wondering how I should book a certain item. My company has ATM Machines and some of them the customers purchase 100% outright and some 50%. If they purchase it outright, my understanding is we should book the revenue and cogs at 100% (like a normal sale)...
  6. M

    USA Do you defer Cogs if you Defer Revenue?

    We have a subscription service where some revenue is recognized over the term of the contract. Would I also defer cogs so it is recognizable over that same term?
  7. M

    USA Lease Accounting

    I am a little confused how we should account for an item we sell to a customer: We sell ATM's for 6k and purchase them for 5k, the customer is the lessor and takes control of the asset. In return, we provide other services for the machine and the contract is 5 years. Do I recognize all this...
  8. M

    USA Do you defer Cogs if you Defer Revenue?

    If we are selling a product to a company, but we recognize the revenue on the contract period 12 months. Do we also do the same for cogs? Thanks!
  9. M

    USA Should you accrue for Owners Draw like Wages?

    Ok thanks so draws should be on the cash basis?
  10. M

    USA Should you accrue for Owners Draw like Wages?

    I was wondering if you need to accrue for Owners Draw like Wages or should that be on the cash basis? Thanks for the help.
  11. M

    USA Commission Expense or Revenue Share?

    If you share the revenue with a 3rd party, should you be breaking this out as a commissions expense or a contra revenue? I was wondering what GAAP says about this.
Top