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Accounting News 03/2008



Group faces deadline in accounting probe (Texas City Sun)
TEXAS CITY — An attorney for the school district said the Roosevelt-Wilson Elementary School parent-teacher organization has until Wednesday to turn over its accounting records or face consequences.

Top Rated Accounting Seminar Hosts One Day Training For Day Traders (PRWeb via Yahoo! News)
Traders Accounting, Offers Day Trading Services to help understand trader tax and preparation.

Top Rated Accounting Seminar Hosts One Day Training For Day Traders (PRWeb)
Traders Accounting, Offers Day Trading Services to help understand trader tax and preparation. (PRWeb Mar 1, 2008) Read the full story at (link) prweb733114.htm

Laura Ann Byram, 27: Corporate accounting manager (The Kansas City Star)
About the employer: Based in Kansas City, Block & Co. Inc. Realtors is a commercial real estate investment/management firm. My division of the company — headed by the sons of a founder, Allen Block — specializes in investing in and managing office and industrial buildings. There also is a retail division.

Toronto Accounting Firm Opens Up in the United States (PRWeb via Yahoo! News)
Hendricks & Associates, a Toronto-based accounting firm, has opened a second location in upstate New York to target small business clientele in the United States.

Toronto Accounting Firm Opens Up in the United States (PRWeb)
Hendricks & Associates, a Toronto-based accounting firm, has opened a second location in upstate New York to target small business clientele in the United States. (PRWeb Mar 2, 2008) Read the full story at (link) prweb735154.htm

Met trust and accounting firm reach settlement (The Spokesman-Review)
The Metropolitan Mortgage & Securities Co. investors' trust has reached a settlement agreement of about $30 million with an accounting firm accused of making mistakes that led to the company's demise.

GIVING BACK: Accounting Aid Society (Detroit Free Press)
Today's subject: Accounting Aid Society's Tax Assistance Program The cause: Accounting Aid Society is a nonprofit agency that provides low-income people with free income tax and tax credit assistance, and access to financial information.

Executives in accounting, advertising, finance, high tech and new media, law and real estate have all found new digs. ... (Crain's New York Business)
Executives in accounting, advertising, finance, high tech and new media, law and real estate have all found new digs. Check out the new faces in key places.

Area accounting firms plot latest expansion plans (BizJournals)
Midsize accounting firms throughout the region are taking on additional office space to make room for ongoing staff expansions.

St. Louis accounting firms get cut of local gaming business (BizJournals)
Local accounting firms are helping area casinos leave nothing to chance as they seek to comply with state reporting regulations.

Research Firm Launches Accounting Outsourcing Blog (SmartPros Accounting)
March 1, 2008 (SmartPros) FAO Research, Inc., an independent research firm focused on analyzing the finance & accounting outsourcing (FAO) and procurement outsourcing markets, has launched a blog dedicated to opening a dialogue among players in the outsourcing marketplace -- buyers, service providers, advisors, associations and the press.

AES in Default Due to Restatement (AP via Yahoo! Finance)
AES Corp. will restate previously reported financial statements due to an accounting error and is in default under a credit line as a result, according a regulatory filing on Monday.

Buffett slams US pensions accounting (eFinancial News)
Warren Buffett has criticised the heroic assumptions on future returns used by US corporations when accounting for the strength of their pension schemes in his 2007 letter to shareholders in his Berkshire Hathaway conglomerate, released over the weekend.

Accounting firm opens (The White Lake Beacon)
Shoreline Accounting and Tax Service, PLC, has opened an office in Whitehall. The business is accepting clients in small business accounting and consulting services, tax planning and preparation, payroll services, as well as individual tax returns.

Force Protection Hires New Managers After Accounting Woes Surface (ABC News 4 Charleston)
(AP) -- Armored vehicle maker Force Protection Incorporated shuffled management today, just three days after telling shareholders it had major accounting problems tied to recording inventory.

Force Protection hires new managers after accounting woes surface (The Times and Democrat)
COLUMBIA (AP) -- Armored vehicle maker Force Protection Inc. shuffled management Monday, just three days after telling shareholders it had major accounting problems tied to recording inventory.

South Africa: New Accounting Framework for Small Companies Simplifies Reporting (AllAfrica.com)
A NEW accounting framework released recently by the International Accounting Standards Board for small- and medium-sized enterprises (SMEs) will provide relief from many of the stringent reporting requirements. SA was the first country to adopt the new requirements.

NXP switches to U.S. dollar accounting (EETimes)
Dutch chip company NXP BV (Eindhoven, The Netherlands) has announced that it plans to submit its financial results in U.S. dollars starting Jan. 1, 2008, "to be more aligned with the semiconductor market."

Coeur Announces Appointment of Mitchell J. Krebs to Chief Financial Officer and Promotes Key Accounting Executives (Business Wire via Yahoo!7 Finance)
Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) today announced the appointment of Mitchell J. Krebs, presently Senior Vice President - Corporate Development, to the position of Senior Vice President - Chief Financial Officer. Mr. Krebs will replace James A. Sabala, who will resign effective March 21, 2008 to pursue other opportunities.

Forecast: Conservative hiring for finance, accounting firms (BizJournals)
Six percent of accounting and finance executives in the Memphis area said they plan to add staff during the second quarter, according to a survey. (RHI)

'E-Learning Course: Bank Branch Management - Bookkeeping and Accounting' Is an Essential Course to Help Users ... (Business Wire via Yahoo! Finance)
DUBLIN, Ireland----Research and Markets has announced the addition of E-Learning Course: Bank Branch Management - Bookkeeping and Accounting to their offering.

St. Louis companies anticipate hiring accounting, finance staff (St. Louis Business Journal)
A net 1 percent of chief financial officers in the St. Louis area are planning to hire additional accounting and finance staff during the second quarter, according to the most recent Robert Half International Inc. Financial Hiring Index. (RHI)

Joseph Munnelly Named ARAMARK Senior Vice President, Controller and Chief Accounting Officer (Business Wire via Yahoo! Finance)
PHILADELPHIA----ARAMARK Corporation, a world leader in professional services, today announced that Joseph Munnelly has been appointed Senior Vice President, Controller, and Chief Accounting Officer, reporting to Fred Sutherland, Executive Vice President and Chief Financial Officer, effective March 1.

American Dental Partners Announces 2007 Financial Results, Provides Detail on Accounting for Litigation and Announces ... (Marketwire via Yahoo! Finance)
American Dental Partners, Inc. announced financial results today for the quarter and year ended December 31, 2007. The Company's financial results reflect non-cash charges required by generally accepted accounting principles as a result of the previously announced settlement of the litigation among PDG, P.A., PDHC, Ltd., one of the Company's subsidiaries, and the Company effective February 29, ...

Joseph Munnelly Named ARAMARK Senior Vice President, Controller and Chief Accounting Officer (Centre Daily Times)
ARAMARK Corporation, a world leader in professional services, today announced that Joseph Munnelly has been appointed Senior Vice President, Controller, and Chief Accounting Officer, reporting to Fred Sutherland, Executive Vice President and Chief Financial Officer, effective March 1. Munnelly, 43, replaces John Lafferty, 64, who has chosen to retire from the company. Munnelly joined ARAMARK as ...

30 Attend Seminar On Accounting Standards (BruDirect.com)
Bandar Seri Begawan - Thirty accountants and auditors are attending a two-day seminar on “Overview of Recent Developments in International Accounting and Financial Reporting Standards' that started yesterday.

Accounting Firms Among Top Employers of New Grads (SmartPros Accounting)
March 5, 2008 (SmartPros) Accounting firms are among the employers showing the most interest in this year's crop of new college graduates, a survey shows.

Electronic accounting and settlement arrives in Bermudian reinsurance market (Insurance Window)
Technology in the Bermudian reinsurance market takes a leap forward with the arrival of electronic accounting and settlement messaging. Aspen Re has become the first underwriter on the island to successfully implement A&S together with two brokers - Aon and Benfield.

Lucas Group Appoints New Accounting & Finance Managing Partner for the Atlanta Office (Business Wire via Yahoo! Finance)
ATLANTA----Lucas Group, an executive search firm, recently appointed Jim Barnhill as Managing Partner for its Accounting & Finance branch in Atlanta, GA.

Downtown accounting firm readies for move (Knoxville News Sentinel)
One of Knoxville's top accounting firms is heading for West Knoxville.

KPMG Named the Top Big Four Accounting Firm by CollegeGrad.com (PRWeb via Yahoo! News)
College grad job seekers choose KPMG as their preferred employer among the Big Four accounting firms. Respondents selected KPMG as their first choice over PricewaterhouseCoopers, Deloitte & Touche and Ernst & Young.

KPMG Named the Top Big Four Accounting Firm by CollegeGrad.com (PRWeb)
College grad job seekers choose KPMG as their preferred employer among the Big Four accounting firms. Respondents selected KPMG as their first choice over PricewaterhouseCoopers, Deloitte & Touche and Ernst & Young. (PRWeb Mar 6, 2008) Read the full story at (link) prweb746724.htm

Kass: Permabulls Blame Credit Crisis on Accounting (TheStreet.com)
Whew! I guess we can all stop worrying now.

SunOpta's Internal Probe Delays 10-K (AP via Yahoo! Finance)
SunOpta Inc., which sells personal care products as well as natural and organic foods, said Thursday it hired outside legal and accounting help as it responds to the fallout of a big write-down.

2008 NORTH AMERICAN CONGRESS ON SOCIAL AND ENVIRONMENTAL ACCOUNTING RESEARCH (Accounting Education)
The Congress will be held in beautiful Montréal, Canada from July 7-9, 2008. The Centre for Social and Environmental Accounting Research (CSEAR) has held an annual conference in the UK (often referred to as the Summer School) for almost two decades.

Plains Exploration & Production Accounting Chief Cynthia Feeback Sells 11,000 Shares (Canadian Business)
NEW YORK (AP) - The chief accounting officer and controller of Plains Exploration & Production Co., an oil and gas company, sold 11,000 shares of stock, according to a Securities and Exchange Commission filing Wednesday.

Société Générale invokes special accounting rule to absorb Kerviel losses (International Herald Tribune)
The French bank moved the losses from 2008, when they actually occurred because of Jérôme Kerviel's actions, to 2007 - a move that has stirred debate about the lack of international rules.

Audit Shows No Accounting Problem For Reading Church (The Kentucky Post)
An independent audit reveals no accounting problems for Saints Peter and Paul church in Reading. Last year, police investigated numerous complaints from parishioners about spending practices at the Catholic church.

Navistar finally posts '06 earnings (Chicago Sun-Times)
Truckmaker Navistar International Corp. reported its long-overdue 2006 earnings Thursday, disclosing a $301 million profit for the year and pledging to have its annual filings current by mid-2008 after a long delay caused by accounting problems.

Carrriers exposed to risk by accounting and reporting systems (Insurance Window)
Carriers are exposed to risk by creaky accounting and reporting systems, according to an IT expert. Michael Graham, director of insurance software specialists Sequel, says that forward-thinking insurance companies, such as Imagine, are role models for the market place.

Breaking the Rules and Admitting It (NYTimes.com via Yahoo! Finance)
When Société Générale’s moved its $9.7 billion loss from 2008 — when it occurred — to 2007, it created a furor in accounting circles about whether standards can be evenly applied.

Accounting, finance hiring is projected to be on the upswing in second quarter (BizJournals)
Financial hiring in San Antonio is expected to increase a net 4 percent in the second quarter of 2008, according to newly released survey results from Robert Half International. (RHI)

Auditor wants CIA accounting (UPI)
With less than a week left as the top U.S. auditor, David Walker is asking Congress again for a review of finances of the CIA and other intelligence agencies.

Loophole Lets Bank Rewrite the Calendar (NYTimes.com via Yahoo! Finance)
When Société Générale moved its $9.7 billion loss from 2008 — when it occurred — to 2007, it created a furor in accounting circles about whether standards can be evenly applied.

Crowe wins workplace honors in 5 states, including Indiana (The Indianapolis Star)
INDIANAPOLIS Crowe Chizek and Co., one of the largest U.S. public accounting and consulting companies, has been recognized by the Indiana Chamber of Commerce "Best Places to Work" program. It has four offices in the state, including one in Indianapolis. It also was recognized by similar programs in Kentucky, New Jersey, Tennessee and South Florida.

Online tax chat today (The Cincinnati Enquirer)
The Enquirer is hosting an online chat with partners in a Hyde Park accounting firm to answer your tax questions.

PTO meets deadline in accounting probe (Texas City Sun)
TEXAS CITY — The treasurer of an elementary school parent-teacher organization met the school district’s deadline for turning over accounting records that are under scrutiny after other officers in the organization raised questions about its bookkeeping.

Volunteer makes doing taxes stress-free for seniors (Daily Herald)
When Julie Wright resigned from her part-time position with a certified public accounting firm, she decided she would share her time and talents with the seniors who take advantage of the programs and facilities offered at the Arlington Heights Senior Center.

About all those books that didn't get written (Toronto Star)
My Unwritten Books , by renowned literary critic George Steiner, is a work about work not done, writing not written. It is an extended confession on Steiner's part, a detailed accounting of seven separate books he wanted to write, but couldn't – but that he also couldn't simply forget about.