Publisher's Note
What do most accountants and Woody Allen have in common? No,
it's not the love of jazz music (well, maybe it is for some of
you). Woody is known for pounding out the work and not seeking
glorification. The man has been nominated for 16 Academy
Awards, won three of them, and has not attended the awards
ceremonies. He merely wants to do the work that he loves and
doesn't need the spotlight. Sound like most accountants you
know? Do the work, do it really well, go home. You gotta
admire that.
Rob Nance
Publisher
AccountingWEB, Inc.
publisher@accountingweb.com
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Questions & Advice
Transfer pricing issue
Two companies have an external consortium with one client.... If
the offshore company insist that the PO should be placed by
onshore company it means onshore company margin reduces and
offshore company margin increases. Is there not a transfer
pricing issue here with shifting margin from one country to the
other even though that is not the direct intention?
Add your input!
Machine inventory
My company has a machine that has been a rental unit for the
past two to three years. The client is getting a new machine
soon and we will receive the old one back from them at that
point. We have lined up a buyer for the machine and the value of
the machine will be approximately $1500 ($3385 cost less $1885
depreciation). How do I enter the machine into inventory so that
we can sell it, or does it need to be added to inventory?
Share your suggestions!
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