Lloyd says that business owners usually are better off if they can find angel financing, rather than incur the high costs of accounts receivable
financing, month after month.
In general, auditors should send positive requests to confirm large accounts receivable
balances, as no sampling risk is acceptable for individual receivable balances exceeding tolerable misstatement for a given engagement.
Through its subsidiary, DRV Capital, LLC, the company is actively engaged in the purchase and collections of distressed accounts receivable
using its own collections solutions.
As of the effective date, ABC has unreported accounts receivable
with a face value of $50,000 and an FMV of $40,000 included in its net unrealized built-in gain of $100,000.
By outsourcing and automating our accounts receivable
processing with Harbor Payments, we look forward to dramatically streamlining the payment process for our customers.
For any tax year, the uncollectible amount of a receivable is the amount that bears the same ratio to the account receivable outstanding at the close of the tax year as (1) the total bad debts with respect to accounts receivable
sustained during the period consisting of the tax year and the five preceding tax years, adjusted for recoveries of bad debts during such period and (2) the sum of the accounts receivable
earned throughout the entire six-year period.
This includes subsidiary ledgers, such as payroll and accounts receivable
PAULA Financial (NASDAQ:PFCO) today announced that the Company has not been able to file its Quarterly Report on Form 10-QSB for the quarter ended June 30, 2006 on a timely basis due to unresolved issues relating to charges for year end bonuses, adjustments to certain accruals for Company expenses and accounts receivable
related to year end bonuses paid to Jeff Snider, the Company's Chairman and Chief Executive Officer.
92 TC 1314 (1989), may enable taxpayers to treat accounts receivable
acquired as part of a qualified asset purchase under Sec.
Many, accounts receivable
systems currently include this feature as a built-in function.
DepositNow(TM) eliminates trips to the bank by enabling small businesses to deposit checks and manage accounts receivable
transactions directly from the convenience of their desktop PC.
With expertise in asset based lending, accounts receivable
financing and trade finance, the company's core competencies position it well to compete in its chosen market of small to medium-sized business renewal.