The new management has taken the great leap of publishing their first draft monthly statement and entered the wonderful world of Republican AN0 accounting. It has been a long journey from hammering out the simple Qntra reports to the directionless November 2017 BBISP statement and eventually to the production of an AN0 compliant December Statement. Part of the transition was the shift to actually working off of the non-zero asset corporation guidelines, instead of trying to reverse engineer them from the statements of MPEx listed ventures. Another part was confronting many of the really hard questions the format demands:
- Wat do about dose Unified Standard Dosiedoes? In spite of so many expenses being demominated in them, there rightly wasn't the sort of confirmed 2-way liquidity necessary to count them as cash. Thusly they fell into tangibles.
- Hardware was another tough question. If we were talking about FUCKGOATS with an emerging market denominated in BTC, then it would have made sense to lump them in with tangibles, but... the hardware in question was the network switch and a unbranded server which now is home to Qntra and Pizarro's www presence. Both could expect to be traded through same chain of transactions to BTC. For it having moved, the value the switch could bring through being traded for USD has appeared to have increased though the replacement cost has risen as well. Thusly I sorted them into the intangibles, illiquid unless the venture changes hands... and thankfully it has!
- Doing business publicly with Mircea in the logs had many pleasant side effect including being able to link to debts in the statement where exactly they were incurred. The logs also carry in the reminder of the lessons learned from baking the wrong documents at the wrong time. And then there are the gems you find browsing the wrong month's logs looking for the right link.
- Publishing earlier rather than later allows for revision before signing the statement and committing it as a deed.
As management in the person of the honorable ben_vulpes published their first draft of Pizarro's first statment there are indeed questions. A number of these questions are open. There is however one question from directed towards management, which I would like to provide clarity to.
5. why did you consolidate overhead (such as office space rental) into payroll ?
The short reason is that ensuring Bingo's presence related bills due at the end of February for March rents would be provided for, asciilifeform in consultation with other members of the consortium to build Pizarro sent myself 1800 USD via Western Union. Fiat side concerns other than keeping the lights on in the cabinet and making sure Bingo doesn't starve haven't yet recieved much attention yet compared to making sure the Republican side of Pizarro is viable and sanely constructed. By the time the February Pizarro statement is in shape to be signed and deeded, the Republican questions of how to organize and account for Pizarro should be settled leaving the fiat side mess for cleanup.
On the fiat side a number of questions are open. Does management want to continue using me personally as a passthrough on everything, or do they want to split the datacenter from the other Bingo/Presence expenses and bring in a fiat side corp incorporated in a saner land to paper contract Bingo's services. I lean towards the later option for a number of reasons.
- The US Passport problem has been a tremendous headache with the banking, and being able to demonstrate 1700-1800 USD a month in income with paper invoices is the sort of thing that can be very helpful making the case for residency. That a substantial chunk of that goes to having a desk, etc for the benefit of Pizarro need not be of any importance so long as receipts can be shown that Bingo is bringing in foreign income a smidge above the median household income and triple the adult mean per capita income.
- If the contract for the rack can be moved to a foreign corp there just might be a away for a better accountant to cut some of the sting VAT incurs.
- Booking incoming cash for rack payments as income to me with which I pay for the rack as opposed to counting the cash which paid for the rack in my name as the loans they rightly are could lead to a lot of local tax liability unearned by the locals.
- The 1700-1900 USD in monthly invoices range seems to hit the magic sweet spot that looks like a life supporting income range while also staying under the cap for my current "pequeÃ±a empressa" unipersonal business structure and its favorable tax treatment. The irony in redeeming the 900 USD fucking in December as a way for Pizarro to realize savings by providing an avenue to minimize local libailities seems delicious on its face.
- Lumping the recurring expenses into a single "payroll" line item does not preculde Pizarro management's ability to leave a pile of fiat in care of Bingo for incidental, bulky, or or heavy purchases that come along.
However these questions are open questions upon which management may make decisions. On that note with GMT -3 making bedtime approach rapidly, the discussion of accounting fat hinted at in the title will have to wait until tomorrow, or depending on the number of questions maybe even later.