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AICPA Council Votes to Recognize the International Accounting Standards Board as a Designated Standard Setter
The governing Council of the American Institute of Certified Public Accountants voted to designate the International Accounting Standards Board in London as an accounting body for purposes of establishing international financial accounting and reporting principles. (Mon, 19 May 2008 19:43:00 GMT)
AOL execs sued for accounting fraud
Bubble men invented $1 billion revenue. The US Securities and Exchange Commission (SEC) has filed a lawsuit against four former AOL Time Warner executives, charging them with falsely boosting the company's advertising revenue by $1 billion (£500 million). (Tue, 20 May 2008 08:06:37 GMT)
City outsources accounting jobs
The 2008-09 budget Saginaw's City Council passed Monday will shift accounting jobs to the private sector despite pleas from staff and union members who fear a beginning trend of job-outsourcing. (Tue, 20 May 2008 14:31:56 GMT)
Freddie Mac Posts Quarterly Loss Tempered by Accounting Techniques
The provider of financing for residential mortgages disclosed losses that were smaller than expected only because of accounting tactics that minimized the effects of bad loans. (Tue, 20 May 2008 19:31:36 GMT)
RBC noticed accounting irregularities with Livent, trial hears
Royal Bank of Canada was 'upset' about Livent Inc.’s accounting practices even before founders Garth Drabinsky and Myron Gottlieb took their theatre company public in 1993, the pair’s fraud trial heard Tuesday. (Tue, 20 May 2008 23:32:41 GMT)
Former AOL Executives Sued in Ad-Revenue Case
The S.E.C. filed fraud charges against eight former AOL executives over an accounting procedure that caused the company to overstate its advertising revenue by more than $1 billion. (Wed, 21 May 2008 02:37:14 GMT)
Ex-employee alleges discrimination by accounting firm
A Kanawha County woman has sued a Charleston accounting firm, alleging she was discriminated against and wrongly fired after she began dating a black man. (Wed, 21 May 2008 05:11:29 GMT)
Nonprofits Can Make Every Penny Count Using the Updated Sage MIP Fund Accounting Product
Sage Software today announced the availability of Sage MIP Fund Accounting, version 10, the latest version of its award-winning accounting software for nonprofit financial management. Along with the new Visual Analyzer module, a business intelligence tool that accesses and converts data into actionable information, Sage MIP Fund Accounting, version 10, features customer-driven enhancements, ... (Wed, 21 May 2008 13:00:00 GMT)
German Government Agrees to Upgrade Accounting Rules, Cut Costs
May 21 (Bloomberg) -- Chancellor Angela Merkel's cabinet agreed on a package that will upgrade accounting rules used by small businesses, a move aimed at conforming with international standards and reducing costs by 1.3 billion euros ($2 billion). (Wed, 21 May 2008 15:43:42 GMT)
Leading Banks Call for Relaxation of Accounting Rules, FT Says
May 22 (Bloomberg) -- Leading bank's have increased pressure to relax accounting rules with a new plan aimed at ending emergency fundraisings, ongoing writedowns and the fire- sale of assets, the Financial Times reported. (Thu, 22 May 2008 03:05:02 GMT)
Bankers seek to change accounting rules to deflect subprime pain
No related articles. The banking industry, who helped create the environment that allowed the subprime crisis, US housing slump and credit crunch to flourish, now want the accounting rules changed to help them survive. (Thu, 22 May 2008 03:24:24 GMT)
Accounting Change Forces 7 Percent Westport Tax Increase
An accounting standards change that calls for the disclosure of escalating future costs of retiree health care benefits led to a Westport Board of Finance decision tonight to increase taxes to residents by 7 percent beginning July 1. (Thu, 22 May 2008 04:22:14 GMT)
Accounting technician jailed for $1.3m fraud
An Auckland accounting technician who stole more than $1.3 million from a client was sentenced to four and a half years in prison today. (Thu, 22 May 2008 07:13:16 GMT)
Sheriff's team raids Palm Desert accounting office suspected in scam
A raid was carried out Wednesday on a Palm Desert accounting firm where employees are under investigation for allegedly cheating elderly clients out of thousands of dollars, authorities said. (Thu, 22 May 2008 08:22:13 GMT)
Accounting Management Solutions Names Emil Ragones as Its First Executive in Residence
Accounting Management Solutions, Inc., one of the fastest-growing private companies in the country, today announced that it has named Emil J. Ragones as its first executive in residence, an advisory role that will enhance the company's ability to serve a expanding roster of clients throughout the Northeast. (Thu, 22 May 2008 13:00:00 GMT)
New Peachtree by Sage Premium Accounting for Manufacturing 2009 and Peachtree by Sage Premium Accounting for ...
Sage Software today announced the general availability of its Peachtree 2009 product line, including new versions of Peachtree by Sage Premium Accounting for Manufacturing and Peachtree by Sage Premium Accounting for Distribution. These products, designed for small manufacturers and wholesale distributors, provide a range of management tools these businesses need to achieve their short and ... (Thu, 22 May 2008 14:05:00 GMT)
Peachtree by Sage Premium Accounting for Construction 2009 Now Available
Sage Software announced today the availability of the Peachtree by Sage 2009 product line, which includes the new version of Peachtree by Sage Premium Accounting for Construction. The Peachtree 2009 line offers new features and improvements aimed at assisting small businesses in the long-term management of their businesses through enhanced reporting and payroll management, real-time alerts, and ... (Thu, 22 May 2008 14:12:00 GMT)
Sage Software Ships Peachtree Premium Accounting for Nonprofits 2009
Sage Software is shipping today the latest release of Peachtree by Sage Premium Accounting for Nonprofits with features including new multi-year reporting and cash flow management improvements. The new and improved functionality in Peachtree Premium Accounting for Nonprofits 2009 offers small nonprofit organizations improved budgeting, forecasting and planning capabilities for continued growth, ... (Thu, 22 May 2008 14:22:00 GMT)
George J. Batavick to Remain on the Financial Accounting Standards Board
The Financial Accounting Foundation (FAF) has announced that current FASB member George Batavick will extend his present term on the Financial Accounting Standards Board as the Board conducts its search for a candidate to fill the open seat. (Thu, 22 May 2008 17:27:28 GMT)
DAVE STOUT EARNS AICPA’S DISTINGUISHED ACHIEVEMENT IN ACCOUNTING EDUCATION AWARD
On behlaf of the AccountingEducation.com community e offer our congratulations to David E. Stout, Youngstown State University, who was just been awarded the 2008 Distinguished Achievement in Accounting Education Award from the AICPA; an award recognizing college accounting educators for excellence in teaching and for national prominence in the accounting profession.... (Thu, 22 May 2008 18:14:08 GMT)
CH Energy Group Appoints Vice President of Accounting & Controller
The board of CH Energy Group, Inc. (NYSE: CHG) has appointed Kimberly J. Wright as Vice President of Accounting & Controller; she will continue to also serve as Controller of its largest subsidiary, Central Hudson Gas & Electric Corporation. Wright joined the Poughkeepsie-based company in October 2006 after more than 15 years of experience in the energy and accounting fields at both Northeast ... (Thu, 22 May 2008 19:12:18 GMT)
Linn Energy Hires New Chief Accounting Officer
HOUSTON, May 22, 2008 -- Linn Energy, LLC announced today that, effective June 9, 2008, David B. Rottino will be joining Linn Energy as Senior Vice President and Chief Accounting Officer. (Thu, 22 May 2008 20:47:44 GMT)
Clinical Solutions adopts NetSuite's accounting software
NetSuite OneWorld enables Clinical Solutions' eight subsidiaries spread across three continents and five locations to have one suite of financial accounting software, including financials and revenue recognition, and CRM software. (Fri, 23 May 2008 01:44:06 GMT)
Peer review is best for accounting firms
Q. It is my understanding that accounting firms are self-regulated through something called "peer review." What is that and how does it protect the public interest? (Fri, 23 May 2008 05:37:23 GMT)
Nationwide blames accounting rules for £726m loss
AccountancyAge.com, Accountancy Age , Friday 23 May 2008 at 08:19:00 Nationwide says accounting rules wiped out an entire year's profit on paper as its assets value plummeted in the credit crunch Nationwide Building Society says it was forced to post the mark-to-market losses on its £25.5bn portfolio of treasury assets because of changed accounting rules after the credit crunch wiped ... (Fri, 23 May 2008 07:25:11 GMT)
Nationwide blames accounting rules for £726m loss
Nationwide Building Society says it was forced to post the mark-to-market losses on its £25.5bn portfolio of treasury assets because of changed accounting rules after the credit crunch wiped £726m from their market value. (Fri, 23 May 2008 08:23:09 GMT)
Official: NKorea very close to turning in nuclear accounting
Fri, May 23, 2008 (8:52 a.m.) A senior U.S. official says North Korea is very close to turning in a long-awaited accounting of its nuclear program _ a major step toward a disarmament deal with the reclusive communist regime. (Fri, 23 May 2008 16:03:53 GMT)
North Korea close to turning in nuclear accounting
WASHINGTON-- A senior U.S. official says North Korea is very close to turning in a long-awaited accounting of its nuclear program — a major step toward a disarmament deal with the reclusive communist regime. (Fri, 23 May 2008 16:33:42 GMT)
Official: NKorea very close to turning in nuclear accounting
North Korea is extremely close to producing a long-awaited accounting of its shuttered nuclear program, a senior U.S. official said Friday. The documentation would be a major step toward a disarmament deal with the reclusive communist regime. (Fri, 23 May 2008 16:45:03 GMT)
U.S.: N. Korea close on nuke accounting
North Korea is extremely close to producing a long-awaited accounting of its shuttered nuclear program, a senior U.S. official said Friday. (Fri, 23 May 2008 18:05:21 GMT)
FASB Issues Statement No. 163, Accounting for Financial Guarantee Insurance Contracts
NORWALK, Conn.----The Financial Accounting Standards Board today issued FASB Statement No. 163, Accounting for Financial Guarantee Insurance Contracts. The new standard clarifies how FASB Statement No. 60, Accounting and Reporting by Insurance Enterprises, applies to financial guarantee insurance contracts issued by insurance enterprises, including the recognition and measurement of premium ... (Fri, 23 May 2008 18:36:00 GMT)
FASB Issues Statement No. 163, Accounting for Financial Guarantee . Insurance Contracts
Insurance Contracts 23/05/2008 18:36:00 Business Wire US8711301007 The Financial Accounting Standards Board (FASB) today issued FASB Statement No. 163, Accounting for Financial Guarantee Insurance Contracts. (Fri, 23 May 2008 19:12:19 GMT)
CH Energy Group appoints vice president of accounting
New York-based CH Energy Groups board has appointed Kimberly Wright as vice president of accounting and controller. She will continue to serve as the controller of its largest subsidiary, Central Hudson Gas & Electric Corporation. (Sat, 24 May 2008 01:30:27 GMT)
Audit finds accounting errors in drug court program
Associated Press - May 24, 2008 9:45 AM ET CHANDLER, Okla. (AP) - An audit of the drug court program in Lincoln County shows problems with missing receipts and accounting errors under a... (Sat, 24 May 2008 13:46:34 GMT)
Lawsuit reflects broken trust
The players in the sweeping fraud lawsuit filed by Community Memorial Hospital once presented a united front: the longtime volunteer trustees, the former administrator they considered their personal friend, the accounting firm that had reviewed the books for close to 25 years, the law firm that advised the hospital during a bruising battle with physicians. (Sun, 25 May 2008 10:09:27 GMT)
David Porter hired as TMSi's CFO
PORTSMOUTH — TMSi Logistics announces that David Porter has been hired as the company's chief financial officer. In this position, Porter will oversee all aspects of TMSi's treasury, financial and accounting operations. With more than 30 years'... (Sun, 25 May 2008 10:17:56 GMT)
Shoddy accounting of federal offshore-oil royalties: audit
Natural Resources Canada orders investigation after questionable accounting practices flagged by auditors (Sun, 25 May 2008 19:22:16 GMT)
DeVry, Becker working to offer 'fast track' to accounting and CPA careers
DeVry University, working through its Keller Graduate School of Management and partner Becker Professional Review, has begun offering a "fast track" program to allow aspiring accountants to earn a master's degree and prepare for the CPA exam. (Mon, 26 May 2008 04:59:57 GMT)
Hospitals’ creative accounting eases surplus
AccountancyAge.com, Accountancy Age , Monday 26 May 2008 at 08:28:00 Hospitals and primary care trusts have deployed some creative accounting to keep the NHS surplus down Hospitals and primary care trusts prepaid suppliers several hundreds of millions of pounds and hid money in an effort to bring down the National Health Service (NHS)'s surplus for last... > Read the full ... (Mon, 26 May 2008 07:40:11 GMT)
Audit finds shoddy accounting of offshore oil, gas royalties
Natural Resources Canada has ordered an investigation into the way the federal government collects offshore-oil royalties after auditors uncovered a series of shoddy accounting practices. (Mon, 26 May 2008 09:11:44 GMT)
AICPA COUNCIL VOTES TO RECOGNIZE THE INTERNATIONAL ACCOUNTING STANDARDS BOARD AS A DESIGNATED STANDARD SETTER
The governing Council of the American Institute of Certified Public Accountants voted to designate the International Accounting Standards Board in London as an accounting body for purposes of establishing international financial accounting and reporting principles.... (Mon, 26 May 2008 09:59:20 GMT)
AICPA PUBLISHES IFRS.COM WEBSITE TO INFORM MEMBERS AND FINANCIAL PROFESSIONALS ABOUT INTERNATIONAL ACCOUNTING STANDARDS
The American Institute of Certified Public Accountants has announced the introduction of IFRS.com, a new Web site developed in partnership with its marketing and technology subsidiary CPA2Biz to help members and financial professionals learn about and stay informed on International Financial Reporting Standards (IFRS).... (Mon, 26 May 2008 09:59:39 GMT)
ACCOUNTING FIRM STUDYING S'NGOR MB AND STATE EXECUTIVE COUNCILLORS' ASSET DECLARATIONS
SHAH ALAM, May 26 (Bernama) -- Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim today said he and the state executive council (exco) members had declared their assets on March 8. (Mon, 26 May 2008 12:04:15 GMT)
Russia's Sberbank boosts net profit 25% to 45.6 bln rubles in Jan-April(Part 3)
MOSCOW. May 26 (Interfax) - Russia's Sberbank (RTS: SBER) increased net profit under Russian accounting standards (RAS) by 25% to 45.6 billion rubles in January-April 2008 from 36.5 billion rubles in the same period of 2007, the bank said on its website in a balance sheet for April. (Mon, 26 May 2008 14:27:00 GMT)
MOE Organises Accounting Workshop
Bandar Seri Begawan - In order to update and improve the educational institution accounting system, the Ministry of Education through the Department of Human Resource Development with the cooperation of the Internal Audit Unit, Ministry of Education has organised an accounting workshop from April 14 to May 27. (Tue, 27 May 2008 00:47:48 GMT)
Sealegs blames new accounting standards for year loss
Amphibious boat maker Sealegs blamed new international accounting standards for its $1.7 million March year loss. (Tue, 27 May 2008 00:48:54 GMT)
Accounting Grads Are Most Employable: Survey
May 27, 2008 (SmartPros) Accounting is the most employable, sought-after major for 2008, according to entry-level job site CollegeGrad.com. (Tue, 27 May 2008 02:39:26 GMT)
Sealegs blames loss on accounting rules
Amphibious boat maker Sealegs has blamed new international accounting standards for its $1.7 million March year loss. The loss reported today compared with $1.05m in 2007. (Tue, 27 May 2008 02:40:36 GMT)
Accounting Senior Manager
Accounting Senior Manager, with at least 7 years experience (ideally in a mobile operator) in the following: Responsible for managing the Accounting Department, providing supervision, proposing and developing targets for their area of expertise which will ensure the business meets any internal and/or external (eg regulatory) requirements. (Tue, 27 May 2008 09:29:28 GMT)
Project Accounting Software ensures DCAA compliance.
Designed to help small to medium US government contractors process and manage accounting information, GCS Premier v5.0 features UI optimized for facilitated and accelerated navigation with role-based navigation and process-driven workflows. Premier Billing, included, embeds functionality within Microsoft Excel 2007 to promote billing processes through pre-built and customizable templates as well ... (Tue, 27 May 2008 12:28:22 GMT)
FASB Issues Statement No. 163, Accounting for Financial Guarantee Insurance Contracts
The Financial Accounting Standards Board (FASB) today issued FASB Statement No. 163, Accounting for Financial Guarantee Insurance Contracts. The new standard clarifies how FASB Statement No. 60, Accounting and Reporting by Insurance Enterprises, applies to financial guarantee insurance contracts issued by insurance enterprises, including the recognition and measurement of premium revenue and ... (Tue, 27 May 2008 16:26:52 GMT)
Financial Accounting Standards Board Meets with Accounting Standards Board of Japan to Discuss Global Convergence
Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) gathered this week in Tokyo for a joint meeting to discuss global convergence. (Tue, 27 May 2008 18:11:47 GMT)
Ambac Comments on Statement of Financial Accounting Standards No. 163
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today commented on the Financial Accounting Standards Board's recently released Statement of Financial Accounting Standards No. 163 - "Accounting for Financial Guarantee Insurance Contracts, an Interpretation of FASB Statement No. 60" ("FAS 163"). The primary focal points of FAS 163 are premium revenue recognition, claim liability recognition and ... (Tue, 27 May 2008 20:12:25 GMT)
Fayette officials to explain $750,000 accounting error
Fayette County commissioners intend to hold a public meeting next week to explain in detail how a $750,000 accounting error occurred in their 2008 budget. (Wed, 28 May 2008 04:05:06 GMT)
AIA Chief Executive attends Bahrain conference to officially launch new joint BIBF Diploma in Islamic Accounting and ...
Philip Turnbull, chief executive of The Association of International Accountants (AIA), will be attending the World Islamic Funds and Capital Markets Conference to be held in Bahrain on 26 and 27 May 2008 to mark the official launch of the new joint AIA and Bahrain Institute of Banking and Finance (BIBF) Diploma in Islamic Accounting and Compliance. (Wed, 28 May 2008 06:44:49 GMT)
Monolines face accounting overhaul
Alex Hawkes, Accountancy Age , Wednesday 28 May 2008 at 09:48:00 US bond insurers face revamp to the way they account for deterioration in their holdings US 'monoline' insurers face recognizing liabilities sooner under new accounting rules proposed by the US Financial Accounting Standards Board. The move means the insurers will have to recognize a liability... > Read the full ... (Wed, 28 May 2008 09:10:32 GMT)
Nigeria: Commissioner Challenges Accounting Officers On Transparency
Nasarawa State commissioner for Education, science and technology, Mrs. Rebeeca Umar has called on accounting officers in the Universal Basic Education (UBE) programme to ensure transparency in their activities. (Wed, 28 May 2008 09:58:08 GMT)
U. S. Steel Announces Executive Appointments in Accounting and Finance Organizations
United States Steel Corporation Executive Vice President and Chief Financial Officer Gretchen R. Haggerty today announced two executive appointments in the company's accounting and finance organizations. (Wed, 28 May 2008 12:01:00 GMT)
Group: 'Creative' accounting a good thing
CALGARY, Alberta, May 28 (UPI) -- The Certified Management Accountants of Canada group is embracing the usually negative term of "creative accounting" as a positive concept. (Wed, 28 May 2008 12:53:54 GMT)
Group: 'Creative' accounting a good thing
The Certified Management Accountants of Canada group is embracing the usually negative term of creative accounting as a positive concept.In a statement from the group's headquarters in Calgary, Alberta, David Fletcher, vice president of public affairs for CMA Canada, said the term traditionally suggested an accountant wasn't being true to the numbers.Creativity is increasingly being identified ... (Wed, 28 May 2008 13:04:23 GMT)
County to explains $750,000 accounting error
Exactly how an accounting error involving $750,000 occurred in the Fayette County budget will be explained during a special public meeting that has been called by commission Chairman Vincent Zapotosky. (Thu, 29 May 2008 04:14:37 GMT)
Blacks Drops Most in Two Months After Dividend Cut (Update2)
May 29 (Bloomberg) -- Blacks Leisure Group Plc, the U.K.'s largest retailer of outdoor gear, dropped the most two months in London trading after halving its dividend, reporting a loss and firing the head of one of its units for accounting irregularities. (Thu, 29 May 2008 13:04:32 GMT)
Green Bay Diocese Looks to Microsoft Dynamics NAV to Replace 15 Accounting Solutions
Microsoft Corp. today announced that St. Therese of the Little Flower Inc., which provides accounting and communication services to the Catholic Diocese of Green Bay, Wis., has selected Microsoft Dynamics NAV and Serenic Navigator to centralize and standardize accounting for all 160 parishes and 62 schools in the diocese. (Thu, 29 May 2008 13:30:00 GMT)
Fitch Report: Accounting for Insurance Contracts - Fair Value or Settlement Value?
Fitch Ratings believes that Phase II of the insurance contracts standard proposed by the International Accounting Standards Board (IASB) represents a good opportunity to bring greater comparability and increased disclosure to the insurance industry, as discussed in a special report published today. (Thu, 29 May 2008 14:59:58 GMT)
Sarbanes-Oxley accounting oversight board may be unconstitutional
A U.S. appeals judge cast doubt on the constitutionality of the Public Company Accounting Oversight Board, a government entity created by the Sarbanes-Oxley law to oversee auditors. (Thu, 29 May 2008 15:53:58 GMT)
Green Bay Diocese Looks to Microsoft Dynamics NAV to Replace 15 Accounting Solutions
Microsoft Corp. today announced that St. Therese of the Little Flower Inc., which provides accounting and communication services to the Catholic diocese of Green Bay, Wis., has selected Microsoft Dynamics NAV and Serenic Navigator to centralize and standardize accounting for all 160 parishes and 62 schools in the diocese. (Thu, 29 May 2008 19:00:00 GMT)
Peachtree by Sage Premium Accounting for Construction 2009 Now Available
ATLANTA, GA -- Sage Software announced the availability of the Peachtree by Sage 2009 product line, which includes the new version of Peachtree by Sage Premium Accounting for Construction. (Thu, 29 May 2008 23:33:35 GMT)
FASB ISSUES STATEMENT NO. 163, ACCOUNTING FOR FINANCIAL GUARANTEE INSURANCE CONTRACTS
The Financial Accounting Standards Board (FASB) today issued FASB Statement No. 163, Accounting for Financial Guarantee Insurance Contracts. (Fri, 30 May 2008 06:59:07 GMT)
Blacks director fired after accounting irregularities
A director has been axed from the board of Blacks Leisure following an investigation into accounting irregularities at its Sandcity subsidiary. (Fri, 30 May 2008 09:37:59 GMT)
Blacks director fired after accounting irregularities
Penny Sukhraj, Accountancy Age , Friday 30 May 2008 at 10:28:00 'There's no suggestion of fraud and no cash left the business,' Blacks says. A director has been axed from the board of Blacks Leisure following an investigation into accounting irregularities at its Sandcity subsidiary.... > Read the full article (Fri, 30 May 2008 09:55:12 GMT)
Blowing the whistle on unethical lawyers
In August 2001, when in-house accountant Sherron Watkins warned Enron CEO Ken Lay that the company might "implode in a wave of accounting scandals," Lay asked the firm's regular law firm, Vinson & Elkins, to do a "preliminary investigation." Though V&E had worked on the very transactions Watkins was questioning, it took the assignment and reported back on Oct. 15 that there was no cause for ... (Fri, 30 May 2008 09:58:46 GMT)
Richmond upon Thames College replaces DOS system with Symmetry's accounting package
Symmetry Financials is an integrated, web-enabled, financial and management accounting package. It comprises general ledger, commitment accounting with purchasing and funds control, accounts payable, accounts receivable, management reporting capabilities and systems integration. (Fri, 30 May 2008 10:25:56 GMT)
Audit reveals issues in A&T accounting
Among the issues found in an audit of N.C. A&T are scholarships awarded to relatives of university employees and conflicts of interest. (Credit: "By J. Brian Ewing Staff Writer ") (Sat, 31 May 2008 07:09:37 GMT)
February gas data skewed
Californians used more gasoline in February than they did a year ago - but you can blame the increase on the accounting books and leap year. (Sat, 31 May 2008 07:19:28 GMT)
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