Huu Cuong Merrigan, CPA

04/05/2024

My house was shaken by that earthquake, but I'm OK; my family's fine.

03/30/2024

From Adam Merrigan: To start on a project, companies must review their financial statements to determine their health and enact it. If they enact it, they must keep amortizing their brands, franchises, etc., and depreciating their equipment to accumulate value and pay fewer taxes to continue their projects. That would save money, but it's on a fixed asset, so there's no telling if they would stop writing off the values unless they review the closings. Other expenses, such as payroll, must be deducted, but limitations are based on laws and accounting principles.

That is why better forecasting and planning (i.e., budgeting) based on financial statements and health are essential to a corporate project's success, regardless of how much companies can deduct. Successful gains through profiting off products and services are vital to paying workers and acquiring PP&E to ensure the longevity of any company.

03/23/2024

Adam Merrigan: If companies or studios can purchase Rooster Teeth's IP rights to continue my beloved series, such as RWBY, they must accumulate loans and get bankers and investors. As a former student of the MBA’s Private Equity Course, I learned that companies need to have a solid financial foundation first by recruiting people with appropriate work experience who can help with their development, such as halting or continuing products and service segments and expanding their structures. Then, they present their financial statements and a strong pitch on how to profit from this acquisition in the long run. They can also use crowdfunding, such as Patreon, to get the needed funding. Whatever happens, when corporations and businesses need funding, they need to gain the trust of these investors and crowdfunders to continue with their projects.

03/15/2024

From Adam Merrigan: What's essential about accountants is improving a company's business processes and internal controls. For the MBA auditing course, I worked on a report and presentation about auditors in the entertainment industry.

Auditors are liaisons between company management and production teams, and to communicate, they need to provide production teams with order receipts to keep the production going. Order receipts document the production team's needs, such as equipment, software, actors, etc. Accountants create budgets based on financial statements and variance analysis between periods to fulfill their orders. However, the segregation of duties is essential because accountants are assigned specific roles in the production teams and must be regulated to a role. For instance, account receivables accountant cannot be involved in payroll, depreciation, or vice versa, only their ordained positions.

Video production companies such as Rooster Teeth rely on order receipts to stay on schedule; the production teams can continue their work with them. It's imperative that accountants like me take significant roles in producing series to improve business processes and internal controls while improving the quality of their shows.

03/12/2024

This is Adam Cuong Merrigan. I subscribed to to watch my favorite web series, RWBY. But now, I am deeply saddened that Rooster Teeth had to close down by . But I will never give up on the RWBY series as their long-time fan. I'm here if animators, story writers, and artists from Rooster Teeth need tax and financial help. If any company acquires Rooster Teeth's IP rights, I can help you to continue your production. You can book an appointment at www.merrigancpa.com.

01/24/2024

This is Adam Merrigan, my accounting manager.

01/23/2024