vania-janet/multiturn-rag-retrieval-data huggingface dataset:
First off, some companies do something like this.  Microsoft for example was well-known for consistently hitting earnings estimates every quarter - nearly never missed them, and most of the time didn't exceed by much either.  In order to do this and not be prosecuted for accounting fraud, you typically have to be a service or nontangible good company (like Microsoft used to be) where you can manipulate the amount of product on hand and move costs fairly easily from one quarter to the next.  A company like, say, Home Depot or Caterpillar - both of which have tangible goods they're either retailing or producing - has less flexibility there, although they will still try to move profits around to match earnings estimates more closely. However, you have to be consistently doing well to be able to do this.  You can't manufacture additional total revenue; so if you have one 'down' quarter, you have to either have moved some revenue into it from the previous quarter, or you have to be able to move some into it from the next quarter.  That obviously doesn't work consistently unless you're a fast-growing company, or have an extremely stable base.  It's also hard to do this in a legal-seeming fashion - technically this sort of manipulation is illegal, so decisions have to be justifiable.  Companies (like Microsoft) that are expanding can also do things to encourage slightly lower expectations.  A company in need of a stock price bump issues press releases touting its inventions and products as amazing things that will drive profits through the roof and an aggressive profit forecast - just as easy to issue a press release with a conservative forecast, meaning the bar will be lower to hit.   It's also not really necessary to manipulate earnings to have a consistently well-performing stock.  This article for example shows that companies who miss earnings estimates don't really suffer much (when controlling for their actual earnings changes, of course) in the long run.  Your price might drop a bit, but if your company is otherwise sound, it will recover. Finally, companies do sometimes come out with information ahead of earnings that cause expectations to be lowered.  7-Eleven for example just lowered its earnings expectations due to various reasons.  Some companies choose to do this in order to dilute the effect on the market.  I'm not sure if this is ever required, but it seems to me that some companies are much quicker to restate earnings expectations than others.
"From Wikipedia: Managerial accounting is used primarily by those within a company or   organization. Reports can be generated for any period of time such as   daily, weekly or monthly. Reports are considered to be ""future   looking"" and have forecasting value to those within the company.** Financial accounting is used primarily by those outside of a company   or organization. Financial reports are usually created for a set   period of time, such as a fiscal year or period. Financial reports are   historically factual and have predictive value to those who wish to   make financial decisions or investments in a company.  At my university, managerial accounting focused more on the details of how costs were managed in the company, the future of the business, etc. while the courses that were considered financial accounting were more from the point of view of a financial analyst or investor, like you said. The financial accountancy material covered analysis of financial statements and the associated investment decisions, among other things.  These areas overlapped in areas like the production of financial statements, since the company also needs to consider how analysts will interpret these statements, and dividend policy, corporate tax accounting, etc. The Wikipedia articles on managerial accounting and financial accounting may provide helpful information as well.  Disclaimer: I took an introductory accounting course in university and nothing more, so my knowledge of the course structures, even at my alma mater, is secondhand recollection at best. I'm sure there are more similarities and differences of which I'm unaware, and I would assume that forensic accountants, auditors, etc. dabble in both these areas and others."
Option tiers are broker specific, according mostly to their business model and presumably within the bounds of FINRA Rule 2111 (Suitability). The tier system can be as complex as E*Trade or as simple as none with Interactive Brokers. The suitability is determined presumably by compliance presumably by the legal history of the rule. The exact reasoning is political, effected by the relevant party composition of the legislature and executive. The full legal history will have the judiciary's interpretations of legislation and policy. Cash and margin rules are dictated primarily by the Federal Reserve and more precisely by FINRA and the SEC.  This is the only distinction made by IB.
"For an example of a company that didn't do that, see Google:  https://www.sec.gov/Archives/edgar/data/1652044/000165204417000014/goog10-qq12017.htm  [emphasis added]  &gt;""Adoption of ASC Topic 606, ""Revenue from Contracts with Customers"" On January 1, 2017, we adopted Topic 606 using the **modified retrospective method** applied to those contracts which were not completed as of January 1, 2017. Results for reporting periods beginning after January 1, 2017 are presented under Topic 606, while **prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under Topic 605.** We **recorded a net reduction to opening retained earnings of $15 million as of January 1, 2017 due to the cumulative impact of adopting Topic 606**, with the impact primarily related to our non-advertising revenues. The impact to revenues for the quarter ended March 31, 2017 was an increase of $14 million as a result of applying Topic 606."""
Seems like it's more dependent on who you want to be your supplier.  The times I've been involved in requesting this, each company had its own application form.  They usually need proof of business activity, which gets back to SpecKK's answer.
This is an extremely simplified version and not necessarily accurate. C for example has $800b in cash and 10+% Tier 1 capital relative to other banks. Yes, they need to write down debt but the larger concern as opposed to bankruptcy by capital markets is equity dilution.   Both C and BAC need to raise equity capital due and, due to new leverage restrictions, will dilute existing shareholders so much that they will have difficulty matching previous EPS. Also, a lot of analysts expect thy aren't marking down assets enough (reducing that large Tier 1 buffer pretty heavily).   One of the primary reasons they issue smaller dividends relative to JPM is that dividends for systematically important institutions must be approved by the Fed now (Dodd-Frank). They can't issue a big dividend because the Fed says they aren't well capitalized enough.   To say they are bankrupt though shows a misunderstanding of bank balance sheets and how the FRB discount window works, though.
There's a lot of hate on the SEC in this thread, but having had to deal with various daily reports generated by several different clearing firms -- I think a story about of all the different methods of delivery and file formats used in the industry would be worthy of TheDailyWTF.  There seriously needs to be some industry standardization here.  It's a nightmare for everyone involved.
Every listed company needs to maintain book of accounts, when you are investing in companies you would have to look at what is stated in the books and along with other info decide to invest in it.
If you have access, factset and bloomberg have this.  However, these aren't standardized due to non-existent reporting regulations, therefore each company may choose to categorize regions differently.  This makes it difficult to work with a large universe, and you'll probably end up doing a large portion manually anyways.
While I get the concepts you are using, I don't think there is a purely, or even mostly, economically strong company in the US right now. Large companies have seen that regulatory capture is a loaded gun on the table. They can either use it or have it used against them.
I believe I have to pay taxes in US since it is a US broker. No, not at all. The fact that the broker is a US broker has nothing to do with your tax liabilities. You should update the banks and the broker with your change of status submitting form W8-BEN to them. Consult a tax professional proficient with Indo-US tax treaty as to what you should put in part II. The broker might withhold some of your income and remit it as taxes to the IRS based on what you put in W8-BEN and the type of income, but you can have it refunded (if it exceeds your liability) by submitting a tax return (form 1040-NR). You do have to pay tax in India, based on the Indian tax law, for your profits in the US. Consult with an Indian tax accountant on that. If I'm not mistaken, there are also currency transfer restrictions in India that you should be aware of.
In the US, auditors are selected and fees are set by the Audit Committee of the BoD.  The Audit Committee is made up of independent directors, at least one of which is a financial expert.  Also, finding something fishy leads to extra billings much more often than it causes an auditor to lose a client.
"This is actually quite a complicated issue. I suggest you talk to a properly licensed tax adviser (EA/CPA licensed in your State). Legal advice (from an attorney licensed in your State) is also highly recommended. There are many issues at hand here. Income - both types of entities are pass-through, so ""earnings"" are taxed the same. However, for S-Corp there's a ""reasonable compensation"" requirement, so while B and C don't do any ""work"" they may be required to draw salary as executives/directors (if they act as such). Equity - for S-Corp you cannot have different classes of shares, all are the same. So you cannot have 2 partners contribute money and third to contribute nothing (work is compensated, you'll be getting salary) and all three have the same stake in the company. You can have that with an LLC. Expansion - S-Corp is limited to X shareholders, all of which have to be Americans. Once you get a foreign partner, or more than 100 partners - you automatically become C-Corp whether you want it or not. Investors - it would be very hard for you to find external investors if you're a LLC. There are many more things to consider. Do not make this decision lightly. Fixing things is usually much more expensive than doing them right at the first place."
Thought this might be a bit useful for you... http://www.score.org/resources/business-plans-financial-statements-template-gallery  Edit: I haven't used their templates in a project before but, glancing at them, they look pretty through. Previously, I've created my own statements in Excel based on templates I've seen in old accounting books. Good luck with your business plan!
My understanding is that the CRSP database is used in conjunction with Capital IQ.  All the financial information you need will be in the Capital IQ database.  As far as filtering, all you need to do is set up a series of IF statements. I am not familiar with the database so I cant help you, but you should have ample resources at your university to help you as the filters you are trying to do are pretty straight forward.
Probably because it's a question of Excel vs Access, not VBA vs SQL. You probably don't need VBA for any of the calcs that the OP mentions.  Excel is the one tool everyone uses in Finance. CR and SSRS require tools and permissions that the average guy simply won't have, and a level of expertise that is not useful for most front/middle-office analysis work.  I usually see these done in Excel. SSRS and CR seem like way overkill for something done trivially and transparently in Excel, whose presentation will change frequently anyway.  Depending on what OP is talking about, analysis is not reporting, and flexibility and transparency usually win. Especially when you want to poke around the underlying data and iterate with other people.  SSRS and CR only make sense when you know what you're looking for, that the data is appropriate for it and you don't expect it to change.
Probably not. If you were at a small company and asked such a question, you'd get advice and links to erisa or other case law, etc.  it's safe to say that a Fortune 500 company such as IBM is going to have their facts in order, and not going to run afoul of the rules in these cases (vesting rules and takeover of other company).  I was in a company that cancelled its pension program. Those of us with the required years got the option of a lump sum payout, those with less than 5 years had no vested value and got nothing. One month longer employment, in the case of a particular coworker, would have given him a lump sum worth nearly 6 months pay.
Banking is highly regulated, but you may want to have a look at Basel II which is kind of an international standard on how to create banking regulations. Your country/state may have considered this when creating its own local regulation; the United States do.
There was a really good discussion with Arthur Levitt (former SEC Chairman) about this on Bloomberg Surveillance this morning. I'd post a link, but it's not up on [their podcast page](http://www.bloomberg.com/podcasts/surveillance/).  Basically, the argument was that it's pretty much impossible for the living wills to act as they should - trading books are far too large and complex for easily unwind in an emergency.
Another problem is maintaining the possibility for current financial analysts - who know their formula and VBA well- to tinker with the business logic. Replacing the underlying system - even partially - means potentially disrupting ownership and requires careful negotiation and change management. Quite challenging in my experience.
I don't know about down there but up here in Canada, unless those companies have some track history, you ARE personally responsible. Or at least that's how I remember it; someone feel free to correct me... (Unless you were wise enough and had enough capital to begin with a shell company)
I’m going to answer this because: Accounting books only reflect the dollar value of inventories. Which means if you look at the balance sheet of McDonalds, you will not see how many bags of French fries are remaining at their storage facility, you will only see the total value at cost basis.  Your requirement for noting the number of shares purchased is not part of the double entry accounting system.  When you transfer $10000 from bank to broker, the entries would be:  The bank’s name and the broker’s name will not appear on the balance sheet.  When you purchase 50 shares at $40 per share, the accounting system does not care about the number of shares or the price. All it cares is the $2000 total cost and the commission of $10.  You have two choices, either place $10 to an expense account, or incorporate it into the total cost (making it $2010).  The entries for the second method would be: Now your balance sheet would reflect: What happens if the price increases from $40 per share to $50 per share tomorrow? Do nothing. Your balance sheet will show the cost of $2010 until the shares are sold or the accounting period ends. It will not show the market value of $2500.  Instead, the Portfolio Tracker would show $2500. The most basic tracker is https://www.google.com/finance/portfolio .  Later if you finally sell the shares at $50 per share with $10 commission: Again, the number of shares will not be reflected anywhere in the accounting system. Only the total proceeds from the sale matters.
It's an infosec rule at my 200 person software company that really doesn't have much of a security risk (i.e. no one would gain much by getting into our records). If it wasn't a rule at equifax, at least on paper, I'll eat my hat or a dictionary or something.  To be clear, I'm not claiming I know this, I'm just basing it on experience working in smaller tech companies. And let's put it this way... the failings of big companies are very rarely a *lack* of rules and bureaucracy.
"In the USA there are two ways this situation can be treated. First, if your short position was held less than 45 days. You have to (when preparing the taxes) add the amount of dividend back to the purchase price of the stock. That's called adjusting the basis. Example: short at $10, covered at $8, but during this time stock paid a $1 dividend. It is beneficial for you to add that $1 back to $8 so your stock purchase basis is $9 and your profit is also $1. Inside software (depending what you use) there are options to click on ""adjust the basis"" or if not, than do it manually specifically for those shares and add a note for tax reviewer. Second option is to have that ""dividednd payment in lieu paid"" deducted as investment expence. But that option is only available if you hold the shorts for more than 45 days and itemize your deductions. Hope that helps!"
Reading IRS Regulations section 15a.453-1(c) more closely, I see that this was a contingent payment sale with a stated maximum selling price. Therefore, at the time of filing prior years, there was no way of knowing the final contingent payment would not be reached and thus the prior years were filed correctly and should not be amended. Those regulations go on to give an example of a sale with a stated maximum selling price where the maximum was not reached due to contingency and states that in such cases: When the maximum [payment] amount is subsequently reduced, the gross profit ratio will be recomputed with respect to payments received in or after the taxable year in which an event requiring reduction occurs. However, in this case, that would result in a negative gross profit ratio on line 19 of form 6252 which Turbo Tax reports should be a non-negative number.  Looking further in the regulations, I found an example which relates to bankruptcy and a resulting loss in a subsequent year: For 1992 A will report a loss of $5 million attributable to the sale, taken at the time determined to be appropriate under the rules generally applicable to worthless debts. Therefore, I used a gross profit ratio of zero on line 19 and entered a separate stock sale not reported on a 1099-B as a worthless stock on Form 8949 as a capital loss based upon the remaining basis in the stock sold in an installment sale.  I also included an explanatory statement with my return to the IRS stating: In 2008, I entered into an installment sale of stock. The sale was a contingent payment sale with a stated maximum selling price. The sales price did not reach the agreed upon maximum sales price due to some contingencies not being met. According to the IRS   Regulations section 15a.453-1(c) my basis in the stock remains at $500 in 2012 after the final payment. Rather than using a negative gross profit ratio on line 19 of form 6252, I'm using a zero ratio and treating the remaining basis as a schedule-D loss similar to worthless stock since the sale is now complete and my remaining basis is no longer recoverable.
"I like how it said at the very end of the article ""the SEC declined to comment on if it was going to investigate"". Shouldn't the answer be an automatic ""yes"" since they are the ones tasked with investigating insider trading.   This situation is extremely disheartening and concerning."
"What exactly would the financial institution need to see to make them   comfortable with these regulations The LLC Operating Agreement. The OA should specify the member's allocation of equity, assets, income and loss, and of course - managerial powers and signature authorities. In your case - it should say that the LLC is single-member entity and the single member has all the managerial powers and authorities - what is called ""member-managed"". Every LLC is required to have an operating agreement, although you don't necessarily have to file it with the State or record it. If you don't have your own OA, default rules will apply, depending on your State law. However, the bank will probably not take you as a customer without an explicit OA."
"I am not a lawyer, but I can't think of a reason this is illegal (something that would be illegal would be to ""trade with yourself"" across the accounts to try to manipulate stock or option prices). I don't think you're ""funneling,"" you're doing ""asset location"" which is a standard tax planning strategy. http://news.morningstar.com/articlenet/article.aspx?id=154126&t1=1303874170 discusses asset location. I'd be more concerned about whether it makes sense."
In many places there are legal requirements to do so, essentially made to prevent brokers from selling high-risk products as if they were deposits with guaranteed safety of your funds. There also may be prohibitions on offering high-risk/high-return products to beginner customers, e.g. requiring accredited investor status claiming that yes, you really know how this works and are informed of the involved risks or you're not allowed to invest in that product.  Making untrue claims of being not a beginner may limit your options if your broker does cheat you in some manner, as it gives them a solid argument that you confirmed that you understand how their pump-and-dump scheme works and are yourself responsible for losing your money to them.
The most important filings are: Form 10-K, which is the annual report required by the U.S. Securities and Exchange Commission (SEC) and Form 10-Q, for the interim quarters.
FWIW I passed CFA L1 with almost no understanding of financial statements. It's super important like others said but if you're good at the other areas a pass is possible. I used ADAPT prep which was really good
I am a CFA Charterholder. Sitting for the exams was a great foot in the door for me to the world of investment research. Today, it is the lasting educational experience and development of mental frameworks on how to conduct financial analysis that help me in the field.  There are three exams in the CFA Program; moreover, to earn the CFA Charter, you need four years of financial industry work experience. I found Level II to be the hardest, and Level I the easiest.  Having the CFA Charter or simply stating you are a CFA Candidate sitting for a future exam goes a long way in your career early on. It is a great signaling mechanism for prospective employers as it shows you are committed and willing to put in hours to go above and beyond.  The body of knowledge you learn in the program will tremendously help you in your career as it will teach you the language of finance.  Overall, **it is a rigorous self-study program.** I can not stress the last sentence enough. You will need to be self-disciplined about doing the required reading, and preparing for the exam. [Exam pass rates are ~50%.](https://encrypted.google.com/search?{google:acceptedSuggestion}{google:originalQueryForSuggestions}sourceid=chrome&amp;ie=UTF-8&amp;q=cfa+exam+success+rates). Again, the exam is not hard per-se, you just have to sit down and study. [This man's blog was fun to read while I was studying.](http://luminouslogic.com/path-to-the-cfa)  Happy to answer anymore questions.  Edit: Most financial industry employers will pay for the cost of the exams and study materials.
Buy an accounting for MBA's book and go through that.  It's the absolute base of finance.  I can't see how you can even wrap your head around most of the articles in FT or in the Economist if you don't know what a balance sheet, income statement, cashflow statement or statement of shareholders equity is.    This is absolutely a requirement for any understanding of the finance sector, or you'll become just another schmoe on CNBC.
Financial modeling training - if you ever have any interest in private equity, investment banking, leveraged lending, equity analysis, corporate finance roles, FP&amp;A, or commercial banking in general, you will need to confidently work with three statement financial models.  There's lots of good resources out there. Some cost more than others.