never thought about this but whatz the difference?..Does the W have port injection? Went out and looked in the Haynes manual and it mentions a CPI system which seems to be a cross between a TBI system and individual injectors…..more HP?
The Z is a TBI, it has 2 injectors and the setup looks like an electronic carb. Has a round air filter on top of the engine with a horizontal throttle plate. The W motor, also called the CPI or Vortec, has a filter box in front of the oil filter in the engine bay, behind the driver’s headlight. There are 6 injectors on the V-6, but they all fire at once. I believe there’s a different cam in each motor, plus the injection setup, accounting for the extra HP. Oh yeah, the W engine has a vertical throttle plate, it sits in front of an intake plenum that looks like a black spider.
never thought about this but whatz the difference?..Does the W have port injection? Went out and looked in the Haynes manual and it mentions a CPI system which seems to be a cross between a TBI system and individual injectors…..more HP?
Doesn’t he have an accounting website ? Does anyone have a link ?
Doesn’t he have an accounting website ? Does anyone have a link ?
http://www.uwasa.fi/~ts/ — http://www3.sympatico.ca/cbbrowne/oses.html "Thou shall not kill. Thou shall not commit adultery. Don’t eat pork. I’m sorry, what was that last one?? Don’t eat pork. God has spoken. Is that the word of God or is that pigs trying to outsmart everybody?" — Jon Stewart
Doesn’t he have an accounting website ? Does anyone have a link ? http://www.uwasa.fi/~ts/
His personal photo’s are beautiful http://www.uwasa.fi/ktt/lasktoim/photo/ Peter Saxton from London
Of course I want to know, but I also know this woman — I lived with her for many years. She doesn’t even say hello to me if we run into one another at a kid’s soccer game, and she does less than nothing to encourage the kids to visit with me so that I could find out first-hand how they are doing. Believe me, it just doesn’t fit that this is a kindness gesture. I wish it weren’t so, but I think shfwilf may be right. Thank you all…
Casey – can’t you tell your X you only want to deal with her in email from now on? And/or block her phone number from coming in? – Hide quoted text — Show quoted text – My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas? I agree most of the others who have responded already. This is a good way for her to keep you up-to-date on their health without calling you. If I were you I’d be pleased with what she’s doing. Put it this way… even if she has some ulterior motive, so what? You’re learning things about your kids from her and that’s good. I would reply with a short "thank you" to encourage her to continue. Geez, I wish my ex would just email me instead of calling… Casey "Rome was burned in a day."
Casey – can’t you tell your X you only want to deal with her in email from now on? And/or block her phone number from coming in?
Well, it would help if she had a email account that she used… Casey (Who has now gone for exactly 4 months and 30 days without being married)
The problem with e-mail is one can never be certain if the other person got it and opened it unless they are on the same service that has those options. I always tell people not to e-mail me with anything really important because sometimes I don’t open my mail for days. I’d follow up e-mail with a phone message at a time I know they won’t be home. You know, Hi, sent you an e-mail to confirm everything. Send me one back if you have any questions. Good Day!
– Hide quoted text — Show quoted text – Casey – can’t you tell your X you only want to deal with her in email from now on? And/or block her phone number from coming in? Well, it would help if she had a email account that she used… Casey (Who has now gone for exactly 4 months and 30 days without being married)
What makes you think that there has to be a motive, don’t you want to be informed and updated as to whats going on with your children?
The motive is money. What makes you think that there has to be a motive, don’t you want to be informed and updated as to whats going on with your children?
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- Hide quoted text — Show quoted text – What makes you think that there has to be a motive, don’t you want to be informed and updated as to whats going on with your children? The motive is money. Absolutely! The motive for kindness and simple courtesy is ALWAYS money, I’m amazed that anyone here would think otherwise. 
Janie
Yeah, what’s up with you people???!! 
The problem with e-mail is one can never be certain if the other person got it and opened it unless they are on the same service that has those options. I always tell people not to e-mail me with anything really important because sometimes I don’t open my mail for days.
I just end my emails to my ex wife with, "Please let me know you recieved this." It’s a better closing, too, than some of the other things I might say :-. Robre – Hide quoted text — Show quoted text – I’d follow up e-mail with a phone message at a time I know they won’t be home. You know, Hi, sent you an e-mail to confirm everything. Send me one back if you have any questions. Good Day! Casey – can’t you tell your X you only want to deal with her in email from now on? And/or block her phone number from coming in? Well, it would help if she had a email account that she used… Casey (Who has now gone for exactly 4 months and 30 days without being married)
My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas? Could she be trying to establish a history of positioning me as a disinterested parent, or demonstrating that she takes on all this responsibility? If so, what would be her gain? BTW, she is a non-working mom who receives child support and alimony. Thanks.
Maybe she is documenting for some reason. Maybe she is simply keeping you in the loop. Maybe she is attempting to establish a basis for increasing the child support. Maybe she likes staying in contact with you. Perhaps you should respond by e-mail and state something like: Thank you for the update. Please do not hesitate to call me if there are any changes or with any questions you may have.
– Hide quoted text — Show quoted text – My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas? Could she be trying to establish a history of positioning me as a disinterested parent, or demonstrating that she takes on all this responsibility? If so, what would be her gain? BTW, she is a non-working mom who receives child support and alimony. Thanks.
My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number."
They are your children, in all likelihood, she thinks you want to know what’ s going on in their lives. Moreover, there has been a lot of discussion here about fathers not having a clue how child support is being spent and that they think an "accounting" would be a Good Thing. You’re getting an accounting. I agree with what Pam said — thank her for her consideration. Ellen
My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas? Could she be trying to establish a history of positioning me as a disinterested parent, or demonstrating that she takes on all this responsibility? If so, what would be her gain? BTW, she is a non-working mom who receives child support and alimony. Thanks.
Could be that she thinks you, as the parent, would simply be interested in the health of your own children? I’d be very pissed if my ex (who is custodial) failed to let me know if the kids had any health or dental problems, and i’d want to be aware of any medications they are taking. They’re my kids, i can’t imagine NOT wanting to know even the details about their health and well-being.
My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas?
It would seem abnormal and inappropriate to me were she NOT to let you know these things. Don’t you want to know? -b
She is trying to get more money from you, of course. My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas? Could she be trying to establish a history of positioning me as a disinterested parent, or demonstrating that she takes on all this responsibility? If so, what would be her gain? BTW, she is a non-working mom who receives child support and alimony. Thanks.
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accept it for what it is. Denise
– Hide quoted text — Show quoted text – My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas? Could she be trying to establish a history of positioning me as a disinterested parent, or demonstrating that she takes on all this responsibility? If so, what would be her gain? BTW, she is a non-working mom who receives child support and alimony. Thanks.
My ex-wife has lately taken to sending me emails with medical updates on our kids: "took kids to dentist for this, doctor for that, they are taking medicine for something, etc." She always signs off with "Call me if you have any questions, or call the doctor at <phone number." It would really surprise me to learn that she is doing this out of the goodness of her heart, but I can’t figure out a motive. Any ideas?
I agree most of the others who have responded already. This is a good way for her to keep you up-to-date on their health without calling you. If I were you I’d be pleased with what she’s doing. Put it this way… even if she has some ulterior motive, so what? You’re learning things about your kids from her and that’s good. I would reply with a short "thank you" to encourage her to continue. Geez, I wish my ex would just email me instead of calling… Casey "Rome was burned in a day."
Does anyone know what’s involved in this? If I order some big honkin’ tool from a mail-order shop, I gotta pay a lot of shipping. If I buy it locally, I gotta pay a lot of sales tax. However, if my out-of-state sister ordered a machine from the tool store across town from me and had it shipped via "Little Brother Freight"… well… there wouldn’t be any tax involved and the shipping would be cheap, too… especially if the machine fell off the truck in front of my house. I’m sure my sister wouldn’t mind. Of course, in order to be kosher with this, the tool store can’t just let anybody ship it. They’ve got to stick with bona fide shipping companies, no? So, how do *I* become bona fide? – Joe
Of course, in order to be kosher with this, the tool store can’t just let anybody ship it. They’ve got to stick with bona fide shipping companies, no? So, how do *I* become bona fide? – Joe
With the paperwork, fees, DOT certification, chance of going to jail, etc… pay the sales tax. — Jack Novak Buffalo, NY – USA
Take a look at Amazon.com. I purchased a Delta Unisaw and they paid the freight and I escaped the local sales tax. I also didn’t have to lift the saw in and out of my truck. It was delivered into the shop. David
– Hide quoted text — Show quoted text – Does anyone know what’s involved in this? If I order some big honkin’ tool from a mail-order shop, I gotta pay a lot of shipping. If I buy it locally, I gotta pay a lot of sales tax. However, if my out-of-state sister ordered a machine from the tool store across town from me and had it shipped via "Little Brother Freight"… well… there wouldn’t be any tax involved and the shipping would be cheap, too… especially if the machine fell off the truck in front of my house. I’m sure my sister wouldn’t mind. Of course, in order to be kosher with this, the tool store can’t just let anybody ship it. They’ve got to stick with bona fide shipping companies, no? So, how do *I* become bona fide? – Joe
Something to consider, simply because of the headaches involved in collection, many states do not require a reseller to collect sales tax on out of state sales. Would it not still be considered an out of state sale if your sister ordered the machine from out of state, had the bill sent out of state to her, paid the bill from out of state, and you pick it up to deliver it? Normally the stipulation is that the customer does not take delivery of the goods in the same state that the goods are sold, which she would not be doing. Then she sells the machine to you for her cost.
Take a look at Amazon.com. I purchased a Delta Unisaw and they paid the freight and I escaped the local sales tax. I also didn’t have to lift the saw in and out of my truck. It was delivered into the shop. David
I’ll bet if you went to whoever collects your sales tax for the area and showed them how you avoided the sales tax, they would happily hand you a form to fill out so you could pay the state use tax, which, most likely would be the same as the sales tax. Technically, it’s probably your legal obligation to do so. It’s also nearly totally unenforceable.
Not to mention a moral obligation to pay your fair share… "for the children."
Take a look at Amazon.com. I purchased a Delta Unisaw and they paid the freight and I escaped the local sales tax. I also didn’t have to lift the saw in and out of my truck. It was delivered into the shop.
Technically, it’s probably your legal – Hide quoted text — Show quoted text – obligation to do so. It’s also nearly totally unenforceable.
Something to consider, simply because of the headaches involved in collection, many states do not require a reseller to collect sales tax on out of state sales. Would it not still be considered an out of state sale if your sister ordered the machine from out of state, had the bill sent out of state to her, paid the bill from out of state, and you pick it up to deliver it?
I think most state legislatures have cottoned onto this trick. For example, suppose I get a money order for the price of the tool (without shipping and without tax), put it in an envelope, address it to the store and put my sister’s return address on it and then hand-deliver the letter to the store. They open it and then I say "Oh, by the way, I’m headed up that way right after I leave here…. why don’t I just deliver it for ya?". Something like this (were it allowed) would be so easy to do that (again, were it allowed) word of it would spread like wildfire and people would be doing it all the time…. costing the state millions, certainly. In fact, I’ve even proposed something like this to a few retailers a few times. I’ve said "Hey, why don’t you put down my out-of-state address, (wink), and then just *say* that you shipped it there?". They all just kinda said that it can’t be done. I figure that, either they were worried that I was some state tax dude trying to entrap them, or (more likely) the state requires them to have some proof that it was shipped out of state via a "real" shipping company. If I’m wrong, I’d be pleasantly surprised, though. Of course, here in California, food isn’t taxable. Maybe I can get the dude at the hardware store to ring up that Delta bandsaw as a 4-ton bag of potato chips…. – Joe
Now that’s comedy. LOL – Hide quoted text — Show quoted text – Not to mention a moral obligation to pay your fair share… "for the children."
– Hide quoted text — Show quoted text – Something to consider, simply because of the headaches involved in collection, many states do not require a reseller to collect sales tax on out of state sales. Would it not still be considered an out of state sale if your sister ordered the machine from out of state, had the bill sent out of state to her, paid the bill from out of state, and you pick it up to deliver it? I think most state legislatures have cottoned onto this trick. For example, suppose I get a money order for the price of the tool (without shipping and without tax), put it in an envelope, address it to the store and put my sister’s return address on it and then hand-deliver the letter to the store. They open it and then I say "Oh, by the way, I’m headed up that way right after I leave here…. why don’t I just deliver it for ya?". Something like this (were it allowed) would be so easy to do that (again, were it allowed) word of it would spread like wildfire and people would be doing it all the time…. costing the state millions, certainly. In fact, I’ve even proposed something like this to a few retailers a few times. I’ve said "Hey, why don’t you put down my out-of-state address, (wink), and then just *say* that you shipped it there?". They all just kinda said that it can’t be done. I figure that, either they were worried that I was some state tax dude trying to entrap them, or (more likely) the state requires them to have some proof that it was shipped out of state via a "real" shipping company. If I’m wrong, I’d be pleasantly surprised, though. Of course, here in California, food isn’t taxable. Maybe I can get the dude at the hardware store to ring up that Delta bandsaw as a 4-ton bag of potato chips…. – Joe
An 8000 lb bandsaw? Must be the big one… ;-^
The CEO Of TYCO is facing charges in New York for evading sales taxes on millions of dollars of artwork. He took the art home while the dealer shipped empty boxes to out of state addresses to create a paper trail.
What I don’t get is… how the hell did they *catch* him? If he had the paper trail, how in the world can they disprove it? – Joe
All it takes is getting somebody unhappy with either him or the people he bought from to report how it happened. A guy told me he knew of four places that got hit for illegal copies of software on computers. Let’s not start that threat again. Point is simply this — in three cases disgruntled former employees turned them in. In the fourth case, a disgruntled current employee turned them in. It isn’t hard to find some disgruntled employees in any business. On the other hand, I’ve noticed a lot of people who will skate over the edge on legal stuff also tend to treat employees like dirt. What surprises me is that more don’t turn on their employer. The trick is to know you’re somebody without thinking you’re somebody. Dennis to Joey (Hank Ketcham)
– Hide quoted text — Show quoted text – The CEO Of TYCO is facing charges in New York for evading sales taxes on millions of dollars of artwork. He took the art home while the dealer shipped empty boxes to out of state addresses to create a paper trail. What I don’t get is… how the hell did they *catch* him? If he had the paper trail, how in the world can they disprove it? – Joe
The wave of the future. Go to college and get a degree in "Creative Accounting".
- Hide quoted text — Show quoted text – Hi. This is a Canadian question, following CICA rules… CICA states that for an exchange of assets to be considered nonmonetary, the amount of cash must be less than 10% of the total amount considered, and the cost of the new asset must not be reported at more than its fair market value. So is the 10% calculated on the original cost of the old asset( let’s say it’s a truck) or the net book value of the old truck ( which is the original cost minus the accumulated depreciation) or the fair market value of the new truck, or what? Thanks. Gary. Gary, The exact definition in CICA HB 3830 states "In general, if the fair value of the monetary consideration is less than 10% of the estimated fair value of the total consideration given up or received, the transaction would be considered non-monetary" So this would indicate that it 10% of the estimated FAIR VALUE OF the total consideration given up or received. Since the recommendation in the Handbook on measurement says that the transaction should be recorded at the fair value of the asset or service given up unless the fair value of the asset or service received is more clearly determinable, this indicates in general we use the fair value of the asset or service given up as the first indication. So to answer your question about the truck. If the cash is less than 10% of the fair value of the old truck plus the cash (because the cash forms part of the consideration given up) then it is a non-monetary transaction. If the fair value of the old truck is not readily determinable then look at if cash is less than 10% of the fair value of the new truck. Sorry, Dan. it’s still bit confusing. Obviously, if a company is exchasnging an asset for another similar asset, such as trucks, they are going to be trading in an older , worse one for a newer better truck. Why would they trade a truck for a worse one? So common sense dictates it has to be a better, newer one. So why is the wording so fuzzy? "10% of the total consideration plus any cash paid or received." It should obviously be cash paid, because if the company is buying a better truck, they are going to have to pay cash,not receive. So the 10% should be clearly stated as either the net book value of the old truck or the fair market value. I don’t like such ambiguous terminology.CICA should be ashamed of itself. To continue- I believe the CICA rule is that the cash paid out must be less than 10% of the fair market value of the new truck. It doesn’t matter to CICA if you want to trade your $50,000 new truck for a crappy old truck worth $4000 as long as the cash paid is less than $400 which is 10% of the value of the new truck, it’s OK. It’s considered a nonmonetary exchange and no gain or loss is recorded on the books.
Gary, I have a CICA Handbook Accounting Refresher(it was prepared for the Alberta Institute but is used by other provinces in their PD courses) in front of me and it states: "Non-Monetary Exchanges – exchanges of non-monetary assets, liabilities, or services with little or no monetary consideration involved – (fair value of the monetary consideration is less than 10% of the estimated fair value of total consideration GIVEN UP) So thus it is 10% of the total consideration given up. So if you trade a used truck with a fair value of $16,000 for a new truck with a fair value of $19,000 and $2,000 cash. Now we have 18,000 total consideration given up and you have 2,000 cash which is more than 10% and thus a monetary transaction. If we used the 19,000 fair value received then it would be a non-monetary transaction. Of course, the other factor is the fair value of a new truck is much more easy to obtain than the fair value of an used truck and you might argue that we do use the fair value of the consideration received as it is more readily determinable. You are right about the handbook being ambiguous though; the least they could have done was stick in examples as an appendix to 3830. And i made a mistake in first response in that as you rightly point out – this is an exchange that does not represent the culimination of the earnings process, as we are trading similar productive assets, and thus 3830.08 applies and the transfers occur at the carrying value of the asset given up plus any monetary consideration given up (or less any monetary consideration received). Thus there is no gain or loss recorded (if our transaction is indeed non-monetary). I was at first assuming it was a 3830.05 transfer where we record at fair values of the consideration given up – where the transfer does represent the culmination fo the earnings process. Dan
– Hide quoted text — Show quoted text – Hi. This is a Canadian question, following CICA rules… CICA states that for an exchange of assets to be considered nonmonetary, the amount of cash must be less than 10% of the total amount considered, and the cost of the new asset must not be reported at more than its fair market value. So is the 10% calculated on the original cost of the old asset( let’s say it’s a truck) or the net book value of the old truck ( which is the original cost minus the accumulated depreciation) or the fair market value of the new truck, or what? Thanks. Gary. Gary, The exact definition in CICA HB 3830 states "In general, if the fair value of the monetary consideration is less than 10% of the estimated fair value of the total consideration given up or received, the transaction would be considered non-monetary" So this would indicate that it 10% of the estimated FAIR VALUE OF the total consideration given up or received. Since the recommendation in the Handbook on measurement says that the transaction should be recorded at the fair value of the asset or service given up unless the fair value of the asset or service received is more clearly determinable, this indicates in general we use the fair value of the asset or service given up as the first indication. So to answer your question about the truck. If the cash is less than 10% of the fair value of the old truck plus the cash (because the cash forms part of the consideration given up) then it is a non-monetary transaction. If the fair value of the old truck is not readily determinable then look at if cash is less than 10% of the fair value of the new truck. Sorry, Dan. it’s still bit confusing. Obviously, if a company is exchasnging an asset for another similar asset, such as trucks, they are going to be trading in an older , worse one for a newer better truck. Why would they trade a truck for a worse one? So common sense dictates it has to be a better, newer one. So why is the wording so fuzzy? "10% of the total consideration plus any cash paid or received." It should obviously be cash paid, because if the company is buying a better truck, they are going to have to pay cash,not receive. So the 10% should be clearly stated as either the net book value of the old truck or the fair market value. I don’t like such ambiguous terminology.CICA should be ashamed of itself. To continue- I believe the CICA rule is that the cash paid out must be less than 10% of the fair market value of the new truck. It doesn’t matter to CICA if you want to trade your $50,000 new truck for a crappy old truck worth $4000 as long as the cash paid is less than $400 which is 10% of the value of the new truck, it’s OK. It’s considered a nonmonetary exchange and no gain or loss is recorded on the books.
OK if you trade your truck for a newer one- first you write off your old truck by crediting the original cost of your old truck and debiting the accumulated amortization of your old truck. Then you have to know the Fair Market Value of the new truck. If the cash you have to apy is less than 10% of the F.M.V. of the new truck, it’s considered a non-monetary exchange, so you credit the cash you have to pay in addition to the above 2 entries. Now you "plug in" the cost of the new truck as a debit, so that the debits column equals the credits column. Lets say the new truck has a fair market value of $20,000. Your old truck originally cost $50,000 and has accumulated amortization of $35,000. OK. so to be a non-monetary transaction, you will have to pay less than 10% of the FMV of the new truck, i.e. less than $2,000. So let’s say you have to pay $1,500. Here’s the entries: (date) New Truck 16,500 Accumulated Amortization (old truck) 35,000 Cash paid 1,500 Old truck 50,000 So you plug in $16,500 as the cost of the new truck so debits=credits. Nanaksarguruswaranarajasnataljit.
– Hide quoted text — Show quoted text – Hi. This is a Canadian question, following CICA rules… CICA states that for an exchange of assets to be considered nonmonetary, the amount of cash must be less than 10% of the total amount considered, and the cost of the new asset must not be reported at more than its fair market value. So is the 10% calculated on the original cost of the old asset( let’s say it’s a truck) or the net book value of the old truck ( which is the original cost minus the accumulated depreciation) or the fair market value of the new truck, or what? Thanks. Gary. Gary, The exact definition in CICA HB 3830 states "In general, if the fair value of the monetary consideration is less than 10% of the estimated fair value of the total consideration given up or received, the transaction would be considered non-monetary" So this would indicate that it 10% of the estimated FAIR VALUE OF the total consideration given up or received. Since the recommendation in the Handbook on measurement says that the transaction should be recorded at the fair value of the asset or service given up unless the fair value of the asset or service received is more clearly determinable, this indicates in general we use the fair value of the asset or service given up as the first indication. So to answer your question about the truck. If the cash is less than 10% of the fair value of the old truck plus the cash (because the cash forms part of the consideration given up) then it is a non-monetary transaction. If the fair value of the old truck is not readily determinable then look at if cash is less than 10% of the fair value of the new truck. Sorry, Dan. it’s still bit confusing. Obviously, if a company is exchasnging an asset for another similar asset, such as trucks, they are going to be trading in an older , worse one for a newer better truck. Why would they trade a truck for a worse one? So common sense dictates it has to be a better, newer one. So why is the wording so fuzzy? "10% of the total consideration plus any cash paid or received." It should obviously be cash paid, because if the company is buying a better truck, they are going to have to pay cash,not receive. So the 10% should be clearly stated as either the net book value of the old truck or the fair market value. I don’t like such ambiguous terminology.CICA should be ashamed of itself.
To continue- I believe the CICA rule is that the cash paid out must be less than 10% of the fair market value of the new truck. It doesn’t matter to CICA if you want to trade your $50,000 new truck for a crappy old truck worth $4000 as long as the cash paid is less than $400 which is 10% of the value of the new truck, it’s OK. It’s considered a nonmonetary exchange and no gain or loss is recorded on the books.
Hi. This is a Canadian question, following CICA rules… CICA states that for an exchange of assets to be considered nonmonetary, the amount of cash must be less than 10% of the total amount considered, and the cost of the new asset must not be reported at more than its fair market value. So is the 10% calculated on the original cost of the old asset( let’s say it’s a truck) or the net book value of the old truck ( which is the original cost minus the accumulated depreciation) or the fair market value of the new truck, or what? Thanks. Gary.
Hi. This is a Canadian question, following CICA rules… CICA states that for an exchange of assets to be considered nonmonetary, the amount of cash must be less than 10% of the total amount considered, and the cost of the new asset must not be reported at more than its fair market value. So is the 10% calculated on the original cost of the old asset( let’s say it’s a truck) or the net book value of the old truck ( which is the original cost minus the accumulated depreciation) or the fair market value of the new truck, or what? Thanks. Gary.
Gary, The exact definition in CICA HB 3830 states "In general, if the fair value of the monetary consideration is less than 10% of the estimated fair value of the total consideration given up or received, the transaction would be considered non-monetary" So this would indicate that it 10% of the estimated FAIR VALUE OF the total consideration given up or received. Since the recommendation in the Handbook on measurement says that the transaction should be recorded at the fair value of the asset or service given up unless the fair value of the asset or service received is more clearly determinable, this indicates in general we use the fair value of the asset or service given up as the first indication. So to answer your question about the truck. If the cash is less than 10% of the fair value of the old truck plus the cash (because the cash forms part of the consideration given up) then it is a non-monetary transaction. If the fair value of the old truck is not readily determinable then look at if cash is less than 10% of the fair value of the new truck.
– Hide quoted text — Show quoted text – Hi. This is a Canadian question, following CICA rules… CICA states that for an exchange of assets to be considered nonmonetary, the amount of cash must be less than 10% of the total amount considered, and the cost of the new asset must not be reported at more than its fair market value. So is the 10% calculated on the original cost of the old asset( let’s say it’s a truck) or the net book value of the old truck ( which is the original cost minus the accumulated depreciation) or the fair market value of the new truck, or what? Thanks. Gary. Gary, The exact definition in CICA HB 3830 states "In general, if the fair value of the monetary consideration is less than 10% of the estimated fair value of the total consideration given up or received, the transaction would be considered non-monetary" So this would indicate that it 10% of the estimated FAIR VALUE OF the total consideration given up or received. Since the recommendation in the Handbook on measurement says that the transaction should be recorded at the fair value of the asset or service given up unless the fair value of the asset or service received is more clearly determinable, this indicates in general we use the fair value of the asset or service given up as the first indication. So to answer your question about the truck. If the cash is less than 10% of the fair value of the old truck plus the cash (because the cash forms part of the consideration given up) then it is a non-monetary transaction. If the fair value of the old truck is not readily determinable then look at if cash is less than 10% of the fair value of the new truck.
Sorry, Dan. it’s still bit confusing. Obviously, if a company is exchasnging an asset for another similar asset, such as trucks, they are going to be trading in an older , worse one for a newer better truck. Why would they trade a truck for a worse one? So common sense dictates it has to be a better, newer one. So why is the wording so fuzzy? "10% of the total consideration plus any cash paid or received." It should obviously be cash paid, because if the company is buying a better truck, they are going to have to pay cash,not receive. So the 10% should be clearly stated as either the net book value of the old truck or the fair market value. I don’t like such ambiguous terminology.CICA should be ashamed of itself.
Neal Feldman <silverst…@home.net> writes: >This study bends over backwards to minimize the harm caused by Gestapo >CPS that it exposes and gives them every benefit of every doubt and then >some… and they still come up with Gestapo CPS being one of the worst >corruptions in this nation’s history! > SECTION C > DESCRIPTION/SPECIFICATIONS/WORK STATEMENT > NATIONAL STUDY OF CHILD PROTECTIVE SERVICES SYSTEMS AND >REFORM EFFORTS
Neal, do you have a URL or other pointer for this? I’d like to pass on a copy of this without all the line wrapping that messed it up. While it’s pretty easy to reformat stuff with emacs, the bullet lists and other indented stuff won’t be so easy. -Ric — Ric Werme | we…@nospam.mediaone.net http://people.ne.mediaone.net/werme | ^^^^^^^ delete
- Hide quoted text — Show quoted text -Ric Werme wrote: > Neal Feldman <silverst…@home.net> writes: > >This study bends over backwards to minimize the harm caused by Gestapo > >CPS that it exposes and gives them every benefit of every doubt and then > >some… and they still come up with Gestapo CPS being one of the worst > >corruptions in this nation’s history! > > SECTION C > > DESCRIPTION/SPECIFICATIONS/WORK STATEMENT > > NATIONAL STUDY OF CHILD PROTECTIVE SERVICES SYSTEMS AND > >REFORM EFFORTS > Neal, do you have a URL or other pointer for this? I’d like to pass > on a copy of this without all the line wrapping that messed it up.
http://www.hhs.gov/progorg/oam/contrct/sectionc.html Enjoy. Wonder if Ron will whine that HHS is too biased a ’source’, eh? ROTFLU! — ============================================================= Home Page: http://members.home.net/silverstorm/ We will never rest until Gestapo CPS is completely abolished!
This study bends over backwards to minimize the harm caused by Gestapo CPS that it exposes and gives them every benefit of every doubt and then some… and they still come up with Gestapo CPS being one of the worst corruptions in this nation’s history! SECTION C DESCRIPTION/SPECIFICATIONS/WORK STATEMENT NATIONAL STUDY OF CHILD PROTECTIVE SERVICES SYSTEMS AND REFORM EFFORTS PURPOSE OF THE SOLICITATION The Office of the Assistant Secretary for Planning and Evaluation, in cooperation with the Children’s Bureau, Administration on Children, Youth and Families, seeks qualified offerors to assist the Department in conducting a study of state and county child protection systems that will enhance the Federal government’s knowledge of child protective services (CPS) in general, and of efforts to improve or reform CPS underway in States and communities, in particular. The study will inform the Federal Government about the current structure and landscape of child protective service systems in the United States and what system improvement efforts are underway. The study has five components: a mail and/or phone survey of child protective services agencies, including collection of information from several types of respondents; analysis of state laws, policy documents, reports and other material that describe state child protective services systems and their operation; site visits to ten communities in order to gather more in-depth information than is possible by mail or phone; preparation of a "white paper" on child protective service system improvement; and convening a symposium on child protective services. This study is intended to concentrate on the initial investigation and decision-making functions of child protective services and is not expected to focus on issues of foster care. Research questions for the study are: 1. What child protection policies and practices (at the state and/or county levels) define the child protective services agency and its responsibilities? How do these vary across the nation? 2. How do the internal and external operational environments of child protective services agencies vary across the nation? By internal operational environments we mean issues such as staffing patterns, supervision structure, staff qualifications and caseload sizes. By external operational environments we mean factors such as relationships with the courts, the community, and the availability of collateral services to address clients’ needs (such as mental health or substance abuse treatment) as well as the number, characteristics and needs of the client population. 3. How do these policies/practices and operational environments relate to the wide differences among jurisdictions in what proportion of child abuse/neglect reports are investigated and substantiated, and whether the confirmation of abuse or neglect result in services to the child and family? 4. What child protective services system reform activities are underway around the nation? What problems are these activities seeking to resolve and through what means? What is known and/or theorized regarding their effectiveness? Sufficient data will be collected to serve as a general CPS system documentation and assessment that the Federal Government may use to identify technical assistance needs and opportunities for further research and evaluation. A white paper emphasizing CPS system improvement shall be produced and later enhanced through a symposium to be held at the conclusion of the study. The symposium will convene experts and leaders in the field to review the study’s findings and the white paper and make recommendations to the Department of Health and Human Services regarding future activities in this arena. The products of this project are intended to facilitate and expedite the implementation of improvements to CPS systems operating throughout the United States. II. BACKGROUND ON THE ISSUE Child protection systems in the U.S. are financed and operated primarily by State and local governments. Since the passage of the Child Abuse Prevention and Treatment Act (CAPTA) in 1974, however, the Federal Government has played a significant role in shaping the basic structure of State and local child protective services systems. CAPTA requires that, in order to be eligible for federal funding under the "basic" State child protection grant program, States must have in place certain procedures. For instance, they must have in place a system for receiving child abuse and neglect reports. Provisions for screening reports, child safety assessment and prompt investigation of reports of child abuse and neglect are among numerous other procedural requirements that have come to serve as guidelines for good practice in a child protective services agency. Changing federal requirements enacted each time CAPTA was reauthorized have been followed by amendments to State laws enacted to maintain the States’ eligibility for these federal funds. In the years since the initial authorization of CAPTA many factors have influenced the efficiency, effectiveness and responsiveness of State child protective services systems: Reports of child abuse and neglect have risen substantially. In 1997, nearly 3 million children were reported to state child protective services agencies, an increase of approximately 18% since 1990. The number of child abuse and neglect reports is now many times higher than it was when CAPTA was enacted. The sheer number of CAN reports has forced CPS agencies to focus almost exclusively on screening, investigating and substantiating whether or not the specific reported incident took place. Nationally, nearly one-third of CAN reports are screened out, meaning that the allegation is either not credible or did not meet the definition of abuse or neglect. The remainder are investigated, and approximately half of investigated cases are confirmed, nearly one million in 1997. The nearly exclusive focus on investigations, however, means that although CPS is considered the "gateway" to other child welfare services, in 1997 fewer than half of the confirmed victims of abuse or neglect received any post-investigation services (HHS/ACYF, 1999). States have reported that although strides have been made in the development of various assessment tools, the quality of decision making in screening, investigating, case planning, placement and reunification remains the subject of criticism – especially in high profile cases. Decisions about when and how to intervene with families are inherently difficult, and CPS agencies and caseworkers are often second-guessed by the courts and media. High profile cases often drive decisions for months afterwards and fear of making a wrong decision in the absence of certainty (and there is rarely certainty) places extreme pressure on caseworkers. While CPS systems were designed with child abuse in mind, currently the bulk of both maltreatment reports and substantiations are for child neglect. Interventions for neglectful families are not as well developed as those to address abuse. In addition, while long term neglect may be more harmful developmentally than all but the most severe abuse, public and partner agencies’ perceptions often minimize the concern over neglect. CPS agencies face multiple challenges. In addition to the rising number of reports, they must contend with an increase in substance abuse, difficulty in maintaining a skilled workforce, a lack of useful data systems and poor working relationships with the courts that place further burden on CPS agencies. Many informed observers have concluded that the nation’s CPS agencies suffer from a series of problems that undermine their ability to protect children. These include:(1) 1. Over-inclusion. In many states and communities too many reports are investigated that are determined to have no basis or that warrant no response beyond the investigation. 2. Insufficient Capacity. The number of families being served by child welfare agencies is far greater than the capacity of these agencies to serve them effectively. 3. Under-inclusion. Many maltreating families are never reported to the CPS agency, or do not receive services if they are. 4. Service Delivery Mismatches. Appropriate services to meet families needs often are not available, so families tend to get what is available rather than what might help. 5. Service Orientation. The traditional CPS orientation toward authoritative investigation and adjudication may be inappropriate for many families. The U.S. Advisory Board on Child Abuse and Neglect found systemic inadequacies during its existence, noting in a 1990 report, "no matter which element of the system that (the Board) examined–prevention, investigation, treatment, training, or research – it found a system in disarray, a societal response ill-suited in form or scope to respond to the profound problems facing it." The Board concluded that "the child protection system is so inadequate and so poorly planned that the safety of the nation’s children cannot be assured" (U.S. Advisory Board on Child Abuse and Neglect, 1990). The General Accounting Office reached similar conclusions in a 1997 report, noting "[t]he CPS system is in crisis, plagued by difficult problems, such as growing caseloads, increasingly complex social problems underlying child maltreatment and ongoing systemic weaknesses in day-to-day operations" (USGAO, 1997). The disarray in CPS agencies has undermined their credibility both with the general public and with the families they serve. "[C]urrent CPS practice is generally characterized by high caseloads and slow response times that severely impede efforts to safeguard children. CPS is rarely viewed as a source of help by community residents; it is perceived instead as unresponsive, … read more »
I just bought from a company here in town going out of business a MAS90 Windows CD. How do I go about getting the release codes and registering this product?? Stan
Each MAS90 install has its own Registration ID and unlocking keys. If you purchased the company that owned the software then Sage has indicated they will allow you to transfer the license. If you merely purchase the CD then you are not able to transfer the license unless you find somebody very sympathetic at Sage. They recently sent around a bulletin on the very subject (license transfers). That being said, you can check http://www.s- consult.com/mas901.htm for an idea of what the pricing on MAS90 is. Also , PLEASE if you own (or know anybody who does) the windows versions of competing products like Solomon, Macola, Great Plains, Realworld, Epicor, etc. — you can get $400 off per module through the end of september (the deal actually closes prior to the end of september). Good luck! Regards, Wayne Schulz http://www.s-consult.com/mas901.htm http://www.s-consult.com MAS90 Accounting Software Got questions? Get answers over the phone at Keen.com. Up to 100 minutes free! http://www.keen.com
I keep on posting this warning and will do so again — before you try to purchase any high-end software whether it be financial, manufacturing, HR, etc., check with the software’s manufacturer as to if the license is transferable or not and if so, is there a cost involved. Each vendor has a different policy. Hopefully the guy below didn’t spend too much on a CD that now only has value when used as a coaster. Alan
– Hide quoted text — Show quoted text – Each MAS90 install has its own Registration ID and unlocking keys. If you purchased the company that owned the software then Sage has indicated they will allow you to transfer the license. If you merely purchase the CD then you are not able to transfer the license unless you find somebody very sympathetic at Sage. They recently sent around a bulletin on the very subject (license transfers). That being said, you can check http://www.s- consult.com/mas901.htm for an idea of what the pricing on MAS90 is. Also , PLEASE if you own (or know anybody who does) the windows versions of competing products like Solomon, Macola, Great Plains, Realworld, Epicor, etc. — you can get $400 off per module through the end of september (the deal actually closes prior to the end of september). Good luck! Regards, Wayne Schulz http://www.s-consult.com/mas901.htm http://www.s-consult.com MAS90 Accounting Software Got questions? Get answers over the phone at Keen.com. Up to 100 minutes free! http://www.keen.com
Sorry I missed the discussion re this Anyone want to start it up again and contribute something I live and work in a remote part of Australia and this may be an option Cheers
Sorry I missed the discussion re this
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I’m not an accountant, but I’m trying to understand the key differences between these two types of accounting/reporting of a life insurer’s financials. Can anyone either provide me with some information or point me to a good source of information? Thanks.
|I’m not an accountant, but I’m trying to understand the key differences |between these two types of accounting/reporting of a life insurer’s |financials. Can anyone either provide me with some information or point me |to a good source of information? Regarding life insurance financials, statutory and GAAP accounting principles have two different philosophies. Statutory accounting is balance sheet (claims paying) oriented. That is, the principles embodied are to obtain a conservative estimate of current surplus for regulators to give them early warnings that an insurer will have difficulties meeting their obligations to policyholders. GAAP accounting is income sheet oriented. This is more geared to giving stockholders a reasonable idea of how their investments are faring. Recently, mutual life insurers, owned by the policyholders, were required to file under GAAP as well as stautory accounting. This has little to do with taxes since the IRS requires yet a third (though similar) accounting treatment. While there are many differences between GAAP and statutory reserves, the key difference is that GAAP seeks to match revenues with expenses while statutory doesn’t. Primarily, there is an entry known as DAC (deferred acquisition costs – primarily commissions). The insurer pays out hefty initial commissions to agents and hopes to get those amounts back as policyholders pay their premiums. However, policyholders can surrender their policies before the insurer can recoup its investment (surrender charges are not sufficient for this). GAAP allows insurers to recognize DAC as future income in the form of an asset; statutory doesn’t. On the liability side, statutory life reserves, the principle liability of a life insurer, are calculated based upon conservative mortality tables and interest rates. GAAP reserves are based on an actuary’s best guess (so to speak). This is all in the name of emphasizing current surplus (you may get a billion dollars tomorrow, but you can’t pay claims today). – sbj –
Statutory accounting is meant to be fiscally conservative. It’s use is mandated by the state insurance departments that oversee the industry. The primary concern is ensure that a company does not overstate the strength of it’s financial position and possibly expose insureds to the risk of the company not being there when the time comes to pay out on its contracts. Generally Accepted Accounting Principles (GAAP) developed in the non-insurance business world. They are maintained under the guidance of the Financial Accounting Standards Board (FASB) which attempts to keep these principals current as the business world constantly changes. Both systems attempt to present consistent statements of the company’s financial position so that the reader of their reports can expect certain practices to be followed that avoid some of the unscrupulous representations that were made in the early days of industry. There is a movement now, referred to as "codification," whereby the two systems are trying to resolve their differences as they apply to insurance companies. The actual mandating of this new set of principles is still at least a few years away. I am not an accountant, but this is the way I’ve had it explained to me by the financial folks at our company. This certainly is subject to anyone else’s correction and elaboration. Joe DeMonte
I am sure we are in much better health buying supplements from mainstream suppliers who provide independent analyses of their products than snake oil from MLMers.
Leave it alone Helen. Now you’re just trying to incite. In case you think that we’re all immature little schoolboys and girls with low grades, let me confirm for you that independent analysis and testing by universities and laboratories in countless countries the world over, and reports and certificates and whatever other documentation you think you need before you’ll give anyone or thing the time of day, has been done and is regularly done for the product range I have referred to. Besides….isn’t is a bit of an admission on your part that you actually do buy supplements at all? You’re prepared to buy a supplement from a proprietory company whose sole aim is to make money? You’re even prepared to take these supplements without examining what else is available on the marketplace? You’re still happy to pay someone you don’t even know, 60% more than the product is actually worth to support their advertising budget? ……ah forget it…..now we’re just going round in circles again. *L* Personally, I doubt you would be in better health than me, but since I don’t know you from a bar of proverbial soap….I’ll just agree with you and leave it at that. Thanks for your stimulating discussion. Have a nice life….and a long one at that.
Tim, In what way does your MLM company provide to the consumer an accurate accounting of what goes into it’s product? Do they supply certificates of analysis upon request? Is your MLM a current member of the NNfA – National Nutritional Foods Association? How long have they been in the business of making supplements? Is this their specialty or is this just another facet of their colorful catalog? And lastly because I’m relatively certain you believe that Helen & I are immature children with low grades, is your MLM company a nonprofit organization? If so that is truly astounding, how is it they fund all that research? As the manager for a RETAIL supplement store for the last 20 years, I’ve found that products sold by MLM companies are the ones guilty of selling their usually inferior products for up to 60% more than quality products would be. D. Shamoda http://www.allways-healthy.com – Hide quoted text — Show quoted text – I am sure we are in much better health buying supplements from mainstream suppliers who provide independent analyses of their products than snake oil from MLMers. Leave it alone Helen. Now you’re just trying to incite. In case you think that we’re all immature little schoolboys and girls with low grades, let me confirm for you that independent analysis and testing by universities and laboratories in countless countries the world over, and reports and certificates and whatever other documentation you think you need before you’ll give anyone or thing the time of day, has been done and is regularly done for the product range I have referred to. Besides….isn’t is a bit of an admission on your part that you actually do buy supplements at all? You’re prepared to buy a supplement from a proprietory company whose sole aim is to make money? You’re even prepared to take these supplements without examining what else is available on the marketplace? You’re still happy to pay someone you don’t even know, 60% more than the product is actually worth to support their advertising budget? ……ah forget it…..now we’re just going round in circles again. *L* Personally, I doubt you would be in better health than me, but since I don’t know you from a bar of proverbial soap….I’ll just agree with you and leave it at that. Thanks for your stimulating discussion. Have a nice life….and a long one at that.