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Understanding the Importance of Preserving Historical Financial Data
The hours have been billed, the client invoiced and the payment recorded, what happens next in your firm? Does your financial management software preserve a detailed financial history? For many firms, once an invoice has been collected in full, the process of utilizing the associated data stops ' a hard copy of the invoice is filed and the numbers lie dormant in the financial system. This scenario is problematic because it does not allow for long-term flexibility in accessing and manipulating the data for best practices and/or analysis purposes.
The truth is, many financial systems ' even those designed in the last few years ' don't maintain enough historic detail to solve tomorrow's problems. Why? Financial systems are transactional databases that are primarily designed to process transactions rapidly. In order to save database storage space and improve operating performance, the millions of rows of detailed data associated with billing are often discarded when an invoice is generated or paid in full, at month's end or at year's end. At that point, ad-hoc analysis is nearly impossible without custom programming or report writer specialists, unless the specific report desired was envisioned and configured in advance. How many times have you attempted to generate a report from your time and billing system only to stop because the information wasn't readily available in a usable format?
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.