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Lehman exec was fired after his letter questioned accounting gimmicks
A Lehman Brothers whistle-blower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his attorney said Friday. (Sat, 20 Mar 2010 07:09:14 GMT)
Letter: Lehman accounting tricks possibly illegal
A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday. (Sat, 20 Mar 2010 06:35:32 GMT)
Letter: Lehman Accounting Tricks Possibly Illegal
In letter, fired Lehman whistleblower calls bank's accounting tricks possibly 'unlawful' Whistleblower - Business - Lehman Brothers - Accounting - Accountancy (Sat, 20 Mar 2010 04:38:55 GMT)
Lehman accounting tricks possibly illegal
NEW YORK — A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse... (Sat, 20 Mar 2010 03:22:57 GMT)
Letter: Lehman Accounting Tricks Possibly Illegal
Letter: Lehman accounting tricks possibly illegal (Sat, 20 Mar 2010 02:11:45 GMT)
Letter: Lehman accounting tricks possibly illegal
A Lehman Brothers whistle-blower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday. (Fri, 19 Mar 2010 23:23:24 GMT)
US Sen Dodd Seeks Justice Dept Probe Into Lehman's Accounting
US Sen Dodd Seeks Justice Dept Probe Into Lehman's Accounting (Fri, 19 Mar 2010 21:43:56 GMT)
Lehman’s Accounting Should Be Probed by Justice, Dodd Says
March 19 (Bloomberg) -- Lehman Brothers Holdings Inc.’s alleged accounting manipulation should be investigated by a U.S. Justice Department task force, Senate Banking Committee Chairman Christopher Dodd said. (Fri, 19 Mar 2010 21:29:36 GMT)
Letter: Lehman Accounting Tricks Possibly Illegal
In letter, fired Lehman whistleblower calls bank's accounting tricks possibly 'unlawful' Whistleblower - Business - Accounting - Lehman Brothers - Ernst & Young (Fri, 19 Mar 2010 21:23:58 GMT)
Letter: Lehman accounting tricks possibly illegal
A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday. Matthew Lee, a former Lehman senior vice president, was fired days after questioning the accounting... Lehman Brothers - Matthew Lee - Vice president - Whistleblower - Business (Fri, 19 Mar 2010 20:56:19 GMT)
MSU Accounting Students Spend Week in Alaska
Four accounting majors from Montana spent their spring break in remote Alaskan villages preparing tax returns for residents. (Fri, 19 Mar 2010 13:10:21 GMT)
Regulators Turned “Blind Eye” to Lehman’s Accounting Fraud
The House Financial Services Committee plans to probe the regulatory failures that led up to the collapse of Lehman Brothers after a bankruptcy examiner released a damning report last week on the investment bank s accounting manipulations. (Fri, 19 Mar 2010 12:38:20 GMT)
Accounting
Accounting Ellin & Tucker, which has offices in Baltimore, Belcamp, Frederick, and Washington, D.C., has promoted three staff members. Rachelle Bell is now a Senior in the audit, accounting, and consulting department, and Allison Waite and Jose Zambrano have been promoted to Senior in the tax department. Architecture Jenny Janis and Shannon Early have been hired as landscape [...] (Thu, 18 Mar 2010 23:18:36 GMT)
Accounting shift aids General Cable 1Q earnings
A change in accounting methods at Highland Heights-based General Cable will boost the firm's shareholder equity and earnings per share. (Thu, 18 Mar 2010 22:19:21 GMT)
SunPower Completes Accounting Investigation
SunPower Corp. today announced that its Audit Committee has completed an independent investigation into certain accounting and financial reporting matters in the company's Philippines operations. Â As a result of the findings identified in that investigation, and in additional reviews performed by the company, SunPower will restate its financial statements as of and for the year ended December ... (Thu, 18 Mar 2010 20:09:00 GMT)
CFMA's IT Survey Ranks eCMS as No. 1 Job Costing/Accounting/Payroll Software
SCOTTSDALE, Ariz.----Computer Guidance Corporation, the leading developer of financial and project management software solutions for architecture, engineering and construction companies, ranks as the No. 1 job cost, accounting and payroll solution provider for commercial contractors with revenue of $250 million and higher according to the CFMA’s 2010 Information Technology Survey For The ... (Thu, 18 Mar 2010 19:56:00 GMT)
Sikich Ranks Among Top 100 Accounting and Tax Firms Nationally
AURORA, IL--(Marketwire - March 18, 2010) - Sikich LLP, a leading professional services firm, has been recognized as an industry leader by Accounting Today , a national accounting trade publication. (Thu, 18 Mar 2010 15:20:01 GMT)
Sikich Ranks Among Top 100 Accounting and Tax Firms Nationally
AURORA, IL--(Marketwire - 03/18/10) - Sikich LLP, a leading professional services firm, has been recognized as an industry leader by Accounting Today, a national accounting trade publication. In Accounting Today's 2010 listing of the Top 100 Accounting and Tax Firms, Sikich ranks 57th largest, up from 64th in 2009. As a pacesetter in growth, Sikich ranks 10th for the overall Top 100 Firms and ... (Thu, 18 Mar 2010 15:05:00 GMT)
Canadian Midstream Operator Implements Quorum TIPS to Manage Production Accounting Activities
Quorum Business Solutions, Inc. , a leading provider of business and information technology solutions for the oil, gas, and renewable energy industry, announces the completion of the Quorum TIPS implementation at one of Canada's largest midstream operators to manage their production accounting activities. (Thu, 18 Mar 2010 13:59:00 GMT)
OVERVIEW OF GENERAL ACCOUNTING METHOD RULES VERSUS SECTION 807(f)
The starting place for any analysis of the tax consequences of a reserving change is to determine whether there would be a change in method of accounting for tax purposes in the absence of section 807(f). It is well-settled that section 807(f) is merely a special change-in-method-of-accounting rule for tax reserves and is intended to apply only when an accounting method change otherwise has ... (Thu, 18 Mar 2010 11:31:42 GMT)
General Cable Announces Inventory Accounting Change from LIFO to Average Cost; Updates Earnings Guidance for ...
HIGHLAND HEIGHTS, Ky.----General Cable Corporation , today announced a change in accounting for inventories from the last-in, first-out method to the average cost method. The Company believes the change is preferable because the average cost method provides better matching of sales and expenses, particularly during periods of metal and petrochemical price volatility, and enhances comparability ... (Thu, 18 Mar 2010 11:00:00 GMT)
Appleton East High School teacher Darlene Londo gets grant to promote accounting
APPLETON Darlene Londo, accounting teacher at Appleton East High School, has been awarded a 2010 Accounting Careers Awareness Grant in the amount of $852 from the Wisconsin Institute of Certified Public Accountants Educational Foundation Inc. (Thu, 18 Mar 2010 09:30:10 GMT)
FSA defends its role over Lehman accounting
Accountancy Age, Accountancy Age , Thursday 18 March 2010 at 08:59:00 Watchdog chief says accounting gimmick only occurred in US consolidated accounts The head of the Financial Services Authority has defended the role of the watchdog in dealing with the collapse of Lehman Brothers and its accounting by saying to blame the FSA was to misunderstand the issue. Chief executive Hector Sants is quoted ... (Thu, 18 Mar 2010 09:15:11 GMT)
US accounting watchdog sanctions Satyam auditors
The US accounting watchdog has imposed sanctions against two Indian auditors who were affiliated with PricewaterhouseCoopers after they failed to detect at multi-year fraud at Indian technology services company Satyam Computer Services Ltd. (Thu, 18 Mar 2010 05:10:15 GMT)
Lawmakers assail regulators over failure to catch accounting maneuver at Lehman
A week after the disclosure that Lehman Brothers used an unconventional accounting technique to make its balance sheet look stronger than it was in the months before its collapse, lawmakers Wednesday attacked the federal regulators who failed to detect and halt the practice. (Thu, 18 Mar 2010 04:00:00 GMT)
TheStreet.com To File Annual Report Late On Accounting Review
TheStreet.com To File Annual Report Late On Accounting Review (Wed, 17 Mar 2010 23:59:17 GMT)
3rd UPDATE: SEC Chairman: Lehman Accounting Oversight Fell Short
3rd UPDATE: SEC Chairman: Lehman Accounting Oversight Fell Short (Wed, 17 Mar 2010 18:58:16 GMT)
Was This Accounting Fudge Foreseeable?
Here's a tool that might alert investors to accounting trouble in advance. (Wed, 17 Mar 2010 13:49:10 GMT)
The Biggest Accounting Scandals Of All Time (PHOTOS)
Got a creative impulse? Accounting may be the profession for you! (Wed, 17 Mar 2010 13:34:39 GMT)
Pensions chief demands reform of accounting
The chairman of the National Association of Pension Funds (NAPF) has described the current accounting for pensions as "unsatisfactory" and said he wants to see the policy reformed. (Wed, 17 Mar 2010 10:21:07 GMT)
India to Extend Accounting Rule Deadline for Banks, Insurers
March 17 (Bloomberg) -- India will extend the April 1, 2011, deadline for banks, insurers and non-bank financial companies to disclose earnings based on a new accounting standard, Y.H. Malegam, a Reserve Bank of India board member, said in an interview. (Wed, 17 Mar 2010 07:07:01 GMT)
FUQI shares plunge on accounting errors
U.S.-traded shares of FUQI International Inc. plunged in aftermarket trading Tuesday after the Chinese jewelry designer revealed that it found accounting errors that caused it to overstate profit for the first nine months of 2009. (Tue, 16 Mar 2010 23:46:03 GMT)
SmithGroup to Design POW/MIA Accounting Command
The Phoenix division of SmithGroup, an architecture, engineering, interiors and planning firm, has been chosen to design a new facility for the Joint POW/MIA Accounting Command (JPAC) at the Hickam Air Force Base in Honolulu. (Tue, 16 Mar 2010 22:34:03 GMT)
IASB Expects Accounting Standards to Stabilize in 2011
International Accounting Standards Board Chairman Sir David Tweedie told a group of European finance officials that the IASB and the U.S. Financial Accounting Standards Board are on track to converge their standards by June 2011, after which there will be a period of stability in accounting standards. (Tue, 16 Mar 2010 21:25:08 GMT)
DoT asks four telecom operators to give accounting info to CAG
The Department of Telecommunications (DoT) has directed telecom operators — Bharti Airtel, Reliance Communications, Vodafone Essar and Tata Teleservices — to provide accounting details for three years from 2006-07 to the Comptroller and Auditor General of India (CAG) in the next 15 days. CAG, the apex audit body, earlier decided to audit accounts of leading telecom operators. (Tue, 16 Mar 2010 19:26:05 GMT)
Lehman Accounting Scandal: Why Did The Government Take So Long To Act?
And where was the government while all this "materially misleading" accounting was going on? In the vernacular of teenage instant messaging, let's just say they had a vantage point as good as POS (parent over shoulder). (Tue, 16 Mar 2010 16:02:11 GMT)
Union County Employee Resigns Over Accounting Questions
The State Law Enforcement Division has started an investigation of accounting practices in the Union County Supervisor’s Office. (Tue, 16 Mar 2010 15:16:20 GMT)
Retail Opportunity Investments Corp. Selects Yardi for Property Management and Accounting
SANTA BARBARA, Calif.----Yardi Systems announced that newly launched real estate investment trust Retail Opportunity Investments Corp. has selected Yardi Voyager™ as its property management and accounting platform. (Tue, 16 Mar 2010 15:05:00 GMT)
Project's accounting up to scratch
WESTERLY - More than three years after the completion of the town's $40 million Vision 2020 school building project, an accounting firm's new independent review has raised no major red flags about the spending of those funds. (Tue, 16 Mar 2010 14:58:39 GMT)
NeoStem Appoints Deloitte & Touche as New Independent Registered Public Accounting Firm
NEW YORK, March 16 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. (NYSE: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. (Tue, 16 Mar 2010 14:48:02 GMT)
Examiner unveils Lehman accounting tricks
WASHINGTON — Lehman Brothers was insolvent for weeks before formally declaring bankruptcy and relied on an accounting gimmick called Repo 105 for financial relief before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Tue, 16 Mar 2010 05:38:42 GMT)
Ernst & Young’s Lehman Accounting Reviewed by U.K. (Update1)
March 15 (Bloomberg) -- The U.K. accounting regulator said it’s investigating how Ernst & Young LLP, the auditor for Lehman Brothers Holdings Inc. , accounted for the investment bank’s off- balance sheet transactions in Britain. (Mon, 15 Mar 2010 23:56:09 GMT)
PostRock Energy Corporation Announces Appointment of Chief Financial Officer and Chief Accounting Officer
OKLAHOMA CITY -- PostRock Energy Corp. today announced the appointment of Jack T. Collins as Chief Financial Officer and David J. Klvac as Chief Accounting Officer effective March 26, 2010. (Mon, 15 Mar 2010 21:03:55 GMT)
China Shrinks Deficit Through Accounting: WSJ
China Shrinks Deficit Through Accounting: WSJ (Mon, 15 Mar 2010 17:42:35 GMT)
Accounting for Lehman, or Enron Pt 2
No one who has seen Lucy Prebble's play about the collapse of Enron can forget the velociraptors . These menacing, red-eyed dinosaurs are used to represent the company's unique contribution to the financial hall of shame: accounting monsters created to gobble up debt and hide it from shareholders with a brazenness they could never imagine. (Mon, 15 Mar 2010 15:44:54 GMT)
Specialists in IFRS, Fraud and Forensic Accounting From Marks Paneth & Shron to Provide On-Site Accounting Training ...
Marks Paneth & Shron Specialists, as Well as Other Acumen Global Faculty, Available for Customized On-Site Events and Media Interviews, Focusing on Key Topics, Including IFRS, GAAP, Corporate Governance and Fraud (Mon, 15 Mar 2010 15:08:43 GMT)
Specialists in IFRS, Fraud and Forensic Accounting From Marks Paneth & Shron to Provide On-Site Accounting Training ...
NEW YORK, NY--(Marketwire - 03/15/10) - Specialists in IFRS, fraud and forensic accounting from leading New York-area accounting firm Marks Paneth & Shron LLP's Litigation and Corporate Financial Advisory Services Group now offer training on timely domestic and international accounting topics in their role as members of the Acumen Global Training faculty. Acumen Global provides sophisticated ... (Mon, 15 Mar 2010 15:04:00 GMT)
Audit Integrity's 'AGR' Rating Outperforms Leading Academic Accounting Risk Measures, Independent Study Finds
LOS ANGELES----The Audit Integrity Accounting and Governance Risk rating outperforms academic risk measures in all head-to-head tests for detecting corporate accounting irregularities and most tests for predicting accounting irregularities, according to an independent academic study. (Mon, 15 Mar 2010 14:13:00 GMT)
Tag: DAVID EINHORN
The Lehman Brothers bankruptcy examiner must be popular at the hedge fund Greenlight Capital , Breakingviews says . David Einhorn, the fund’s founder, had criticized the Wall Street firm’s finances and accounting before it failed in September 2008. (Mon, 15 Mar 2010 12:41:07 GMT)
Auditor Could Face Liability Over Lehman
A 2,200-page report by a court-appointed examiner , Anton R. Valukas, on Lehman’s collapse has plenty of criticism for various players involved with the investment bank. But some of his harshest words are reserved for Ernst & Young and the accounting maneuvers it permitted. (Mon, 15 Mar 2010 08:56:11 GMT)
Examiner unveils Lehman accounting tricks
WASHINGTON (AP) -- An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Mon, 15 Mar 2010 06:35:56 GMT)
Examiner unveils Lehman accounting tricks
WASHINGTON — Lehman Brothers was insolvent for weeks before formally declaring bankruptcy and relied on an accounting gimmick called Repo 105 for financial relief before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Mon, 15 Mar 2010 05:39:23 GMT)
One Week to Go For Accounting Journalism Entries
Journalists have a final week to submit entries to the inaugural Openside Accounting Journalism Awards. (Mon, 15 Mar 2010 00:37:37 GMT)
Lehman’s accounting tricks unveiled?
Associated Press WASHINGTON — An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. The question now is whether the trickery spells legal jeopardy for executives of Lehman or its auditors Ernst & Young. (Sun, 14 Mar 2010 16:14:33 GMT)
Lehman’s accounting tricks unveiled?
Associated Press WASHINGTON — An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. The question now is whether the trickery spells legal jeopardy for executives of Lehman or its auditors Ernst & Young. (Sun, 14 Mar 2010 11:45:23 GMT)
Examiner unveils Lehman accounting tricks
WASHINGTON (AP) -- An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Sun, 14 Mar 2010 07:34:43 GMT)
Examiner unveils Lehman accounting tricks
WASHINGTON — Lehman Brothers was insolvent for weeks before formally declaring bankruptcy and relied on an accounting gimmick called Repo 105 for financial relief before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Sun, 14 Mar 2010 06:38:31 GMT)
Examiner unveils Lehman accounting tricks
WASHINGTON (AP) — An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. The question now is whether the trickery spells legal jeopardy for executives of Lehman or its auditors Ernst & Young. (Sat, 13 Mar 2010 13:26:01 GMT)
Report: Accounting trick hid Lehman problems
NEW YORK - It is the Wall Street equivalent of a coroner's report - a 2,200-page document that lays out, in new and startling detail, how Lehman Brothers used accounting sleight of hand to conceal the bad investments that led to its undoing. The report, (Sat, 13 Mar 2010 09:18:23 GMT)
Official report says Lehman Bros. used 'misleading' accounting tricks
A 2,200-page report by a court-appointed examiner says executives of Lehman Brothers manipulated the now-defunct company's balance sheet, using a "materially misleading" accounting trick to temporarily remove $50 billion of troubled assets (Sat, 13 Mar 2010 01:20:58 GMT)
Examiner unveils Lehman accounting tricks
An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Sat, 13 Mar 2010 01:02:53 GMT)
Examining Lehman's Creative Accounting
A new report says Lehman Bros. used accounting tricks to cover up the fact it had been insolvent for weeks before it filed for bankruptcy in September 2008. Lynn Turner, former chief accountant for the Securities and Exchange Commission, discusses the creative accounting techniques the company used to manipulate its books. (Sat, 13 Mar 2010 00:43:46 GMT)
Examiner Unveils Lehman Accounting Tricks
Lehman's accounting gimmick helped firm hide debt, examiner says; could it mean legal trouble? Business - Accounting - Lehman Brothers - Firms - Financial services (Fri, 12 Mar 2010 23:55:35 GMT)
Lehman Bros. used accounting trick amid financial crisis – and earlier
Failed investment bank Lehman Bros. used an accounting trick at the end of each quarter to make its finances appear less shaky than they really were, says a report from an examiner. (Fri, 12 Mar 2010 23:18:27 GMT)
Lehman Bros. used accounting trick amid financial crisis – and earlier
Lehman Brothers was playing loose with its accounting even before the financial crisis put the investment bank under intense pressure to reassure its investors, according a report this week from a court-appointed examiner. (Fri, 12 Mar 2010 22:58:24 GMT)
NewsWatch: Do other firms use Lehman's accounting 'drug'?
Lehman Brothers used an accounting maneuver to make itself look financially stronger than it actually was. Did other investment banks get hooked on this? (Fri, 12 Mar 2010 22:26:23 GMT)
Examiner Sees Accounting Gimmicks in Lehman Demise
Lehman Brothers used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found. (Fri, 12 Mar 2010 16:00:16 GMT)
Lehman Bros. accounting trickery alleged
A court-appointed examiner's report also says that JPMorgan Chase & Co. and Ernst & Young could face legal claims over the investment bank's failure. In the months before Lehman Bros. collapsed in late 2008, setting off the global financial crisis, the investment bank used an accounting trick to make it appear to have greater liquidity than it did, a court-appointed examiner alleges in a report ... (Fri, 12 Mar 2010 15:20:46 GMT)
Lehman Bros. accounting trickery alleged
Reporting from New York - In the months before Lehman Bros. collapsed in late 2008, setting off the global financial crisis, the investment bank used an accounting trick to make it appear to have greater liquidity than it did, a court-appointed examiner alleges in a report unsealed Thursday. (Fri, 12 Mar 2010 14:44:34 GMT)
Report traces demise of Lehman Brothers to accounting, asset moves, pressure from rivals
EPALehman Brothers world headquarters in New York City in 2008.NEW YORK -- “Materially misleading” accounting gimmicks were among the factors that brought down Lehman Brothers two years ago, a report released Thursday shows, according to a report in The New... (Fri, 12 Mar 2010 12:37:55 GMT)
The British Origins of Lehman’s Accounting Gimmick
As The New York Times’s article on the court-appointed examiner’s report on Lehman Brothers makes clear, perhaps the most newsworthy element to pop out of the inquest’s 2,200 pages is an accounting trick known as “Repo 105.” (Fri, 12 Mar 2010 12:11:10 GMT)
How 'Repo 105' was Lehman's accounting 'drug'
An accounting maneuver known as “Repo 105” was a “drug” that helped maintain a veneer of health on Lehman Brothers’ crumbling balance sheet in the months running up to its bankruptcy, a report from a court-appointed examiner shows. (Fri, 12 Mar 2010 11:55:28 GMT)
Lehman's $50bn 'Accounting Gimmick' Slammed
Lehman Brothers bosses have been accused of using an "accounting gimmick" to hide billions in losses which helped bring about its collapse and unleashed the global financial crisis. (Fri, 12 Mar 2010 10:56:26 GMT)
Kintetsu Corrects Five Years of Earnings on Accounting Fraud
March 12 (Bloomberg) -- Kintetsu Corp ., a railway company operating in western Japan, corrected more than five years of earnings statements because of accounting fraud at a wholly owned advertising subsidiary. (Fri, 12 Mar 2010 07:45:22 GMT)
Did Accounting Tricks Lead to Lehman's Downfall?
Should accounting tricks be added to the long list of things that caused the financial crisis? I'm not sure. Turns out Lehman was even more leveraged than we thought (Fri, 12 Mar 2010 06:24:38 GMT)
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