CST - "Quality & Service, the way it used to be."
Newsletter
Winter, 2010
|
||
 |
|
|
|
|
|
|
|
|
|
SEC Reporting: XBRL Filings
What is XBRL?
XBRL (eXtensible Business Reporting Language) is a standard programming language used to exchange and disseminate corporate reporting information. XBRL is XML-based, using XML syntax and other XML technologies to create unique, predefined data tags (like barcodes) identifying the information's content and structure. In the U.S., the SEC requires reporting companies to tag financial statement line items and financial notes and schedules with...
Colonial Stock Transfer provides full CPA accounting support and review with every XBRL filing for a simple, flat rate.
Call now for a quote. 801-355-5740.
Cost Basis: The Effects
Rule Overview:
In October 2008 the Emergency Economic Stabilization Act was signed into law. As part of that Act, the IRS requires all equity securities and units of investment trusts to maintain, pass-through and report all cost bases on all transactions, beginning January 1, 2011 and including all investments made thereafter. This regulation will provide a greater transparency on capital gains tax and investment activity for the IRS.
Unfortunately, penalties may be assessed for non-compliance in reporting incorrect or no information to the IRS. These fines are based on each tax-lot ranging from $15 and $50 per transfer statement with aggregate fines of between $75,000 and $250,000. Fines may be lower for smaller companies, but substantial nonetheless. The maximum fines may reach $3 million....
To learn more or to receive the full 7 page PDF article, please email newsletters@colonialstock.com.
Corporate Action Changes
The Financial Industry Regulatory Authority, or FINRA, saw key changes in the way corporate actions are handled this past year, including eliminating time-consuming paperwork and adding issuer fees for corporate action processing.
As far as paper elimination is concerned, FINRA has created interactive PDF documents for both issuers and transfer agents involved in the...
Colonial Stock Transfer Company
Stock Option Tracking & Management
Overview:
Colonial offers a fully secure web-based solution for managing and accounting for stock based compensation. Colonial’s stock option tracking platform tracks all activities related to employee stock options and all other types of equity instruments in real time for publicly traded and private companies. This product is not included in Colonial's typical transfer agent services, but is an additional solution offered to help executives manage their stock. Colonial's stock option tracking program can perform all the functions associated with the accounting, management and administration of employee stock options including, but not limited to:
- Automatic calculation of the Black Scholes and the Binomial valuation Values
- Full support for options, restricted shares, convertible debentures, warrants, performance options, SAR's, Deferred Share Units, consultant options and Phantom Shares
- Full support for both uniform and non-uniform vesting schedules
- Automatic generation of all the disclosures needed for the quarterly and annual disclosures
- Automatic generation of option statements, grant letters and employee option status letters
- As a web-based application, you can get your employees to have direct access to the system where they would be able to see the status of their own options, and to enter their requests for exercising the options. Many companies consider this as an employee benefit.
- Support for downloading all the data into Excel
- Management and accounting for performance options
- Management and accounting for variable accounting grants (such as liability-type instruments and consultant options)
- FAS123(R) compliant expense values, notes and proxy disclosures, and FAS128 compliant share dilution report
- IFRS-2 compliant option expense, reporting and disclosures, and IAS-33 compliant share dilution report.
To learn more, read more by clicking below or call 801-355-5740 Ext. 104.