Editor's Note
This week we launch a new series of articles entitled, "Life in
the Big Four." Whether you are a current or former member of
the Big Four (Five, Eight, whatever) accounting firms, or an
observer from the outside, this series should prove engaging.
Our author, whose keen eye for detail provides this view from
the major leagues, has asked to remain anonymous. We welcome
more such articles from the perspective of those of you who
have been or who are still in the trenches of accounting firms.
Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
Questions & Advice
Need a ProfitCents Alternative
I bought ProfitCents and don't like it at all. Can you
recommend an alternative?
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Accounting for Lease Buyouts
A company is currently leasing hardware equipment and is
planning to buy it at the end of the third year for a residual
value of $50K. Is this going to be an capital asset and is its
useful life still 5 years from the date of acquisition or
should the useful life be counted from the lease start date?
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