Home > Accounting News

Accounting News 01/2010



Supreme Court considers accounting oversight panel (Arkansas News Bureau)
As part of its efforts to tighten oversight of internal controls and outside auditors following accounting scandals at Enron Corp., WorldCom and Tyco International, Congress created the Public Company Accounting Oversight Board.

Top 10 Canadian business stories of 2009 (The Sudbury Star)
Nortel goes bankrupt Nortel Networks files for bankruptcy in January, dragged down by slumping global economies and competition from lower cost rivals. Nortel was one of Canada's corporate success stories and a stock market darling, accounting for about 35% of the Toronto Stock Exchange in 2000.[...]

Accountant starts fresh with Bloody Mary mix (The Star-Ledger)
MILWAUKEE — For years, Jimmy Roeglin’s friends raved about the Bloody Mary cocktails he mixed for tailgate parties and other get-togethers. Now, after leaving his accounting job, Roeglin, with a little help from his friends, is transforming that homemade concoction...

For Colts, 2000-2009 was decade of excellence (The Star Press)
INDIANAPOLIS — Fifteen games and a lone loss into the Indianapolis Colts' final season of the decade would seem an appropriate time for a pause, a look back, an accounting.

Los Banos hires new CFO from R.C. (Inland Valley Daily Bulletin)
RANCHO CUCAMONGA - A city in Merced County has found a new chief financial officer - Rancho Cucamonga-based accounting firm Vavrinek, Trine Day & Co.

Snohomish County seniors can get help with tax forms (Everett Herald)
Students and staff in the Everett Community College accounting department plan to help AARP members offer free tax-form preparation to middle- and low-income taxpayers, especially to those who are age 60 and older.

South Suburban garners financial reporting award (Centennial Citizen)
South Suburban Park and Recreation District has received the highest from of recognition for governmental accounting and financial reporting from the Government Finance Officers Association (GFOA) of the United States and Canada.

(AFX UK Focus) 2010-01-02 09:32 UPDATE 1-Oman's finance minister sees 2010 growth at 6.1 pct (Interactive Investor)
DUBAI, Jan 2 (Reuters) - Oman's minister of finance forecast on Saturday GDP in real terms for 2010 at 6.1 percent, and inflation at 3.5 percent, without giving comparative figures for the previous year. Qaboos bin Said al-Said told reporters that Oman's total debt as of the end of 2009 stood at 722 million Omani riyals ($1.88 billion), with domestic debt accounting for 252 million riyals of ...

Supreme Court considers accounting oversight panel (Arkansas News Bureau)
As part of its efforts to tighten oversight of internal controls and outside auditors following accounting scandals at Enron Corp., WorldCom and Tyco International, Congress created the Public Company Accounting Oversight Board.

Clerks held for mayor’s murder (Kathimerini)
Two municipal accounting clerks from Paggaio, near Kavala in northern Greece, were being questioned yesterday in connection with the murder of the local mayor whose body was found late on Wednesday riddled with bullets and stab wounds.

New partner named at David & Johnson, Ltd. (Tahoe Daily Tribune)
The accounting firm of David & Johnson, Ltd., of Zephyr Cove, announced that Michelle Larsen has been promoted to partner. Larsen has more than 10 years of public accounting experience. After graduating from the University of California, Davis, and working for Deloitte & Touche in San Francisco, Larsen joined David & Johnson, Ltd. She has been a member of the firm for the past eight years ...

U.S. Loan Effort Is Seen as Adding to Housing Woes (New York Times)
Some economists contend that the Obama administration’s $75 billion program to prevent foreclosures has done more harm than good.

Car Choice: It pays to be boring if you want to get on the road for less (Independent)
Clive Allen is 17, and, like every teenager who has passed his test, wants ideas for a first car. He has a budget of around £4,000. Clive does not like Nissan Micras, Ford Kas, or Renault Clios. So he is looking for a first car that's decent and fairly new, with insurance accounting for about £1,000 of his budget.

South Suburban garners financial reporting award (Lone Tree Voice)
South Suburban Park and Recreation District has received the highest from of recognition for governmental accounting and financial reporting from the Government Finance Officers Association (GFOA) of the United States and Canada.

Get involved (Detroit Free Press)
Accounting Aid Society is recruiting volunteers now who can deduct a little of their own time from January through mid-April to help low-income people file their taxes.

Supreme Court considers accounting oversight panel (Arkansas News Bureau)
As part of its efforts to tighten oversight of internal controls and outside auditors following accounting scandals at Enron Corp., WorldCom and Tyco International, Congress created the Public Company Accounting Oversight Board.

Corporate Bankruptcy Rises 44% As Business Debt Settlement Alliance Helps Businesses Avoid Bankruptcy: Chapter 7 and ... (PRWeb via Yahoo! News)
In fighting the unstable economy, tax and accounting firm, Leiman & Associates affiliates with Debt Free League to help business owners gain essential debt relief. On top of saving money from their 2009 tax returns, their cash-strapped clients can rejoice the 2010 New Year by putting more money in their pockets from personal and business debt settlements.

Fruitful Decade for Many in the World (New York Times)
For China, India, Indonesia and Brazil, which have more than 40 percent of the world’s people, the decade was one of solid economic growth.

Corporate Bankruptcy Rises 44% As Business Debt Settlement Alliance Helps Businesses Avoid Bankruptcy: Chapter 7 and ... (PRWeb)
In fighting the unstable economy, tax and accounting firm, Leiman & Associates affiliates with Debt Free League to help business owners gain essential debt relief. On top of saving money from their 2009 tax returns, their cash-strapped clients can rejoice the 2010 New Year by putting more money in their pockets from personal and business debt settlements. (PRWeb Jan 3, 2010) Read the full story ...

Fed boss: regulation first defense against bubbles (AP via Yahoo! News)
Stronger regulation should be the first line of defense against speculative bubbles that could send the economy into a new crisis, Federal Reserve Chairman Ben Bernanke said Sunday.

Who Does McCaskill Represent? (The Missourian)
To The Editor: Today, Christmas Eve, the Democrats of the U.S. Senate aided by our own Darlin' Claire McCaskill rammed through the Senate a health care bill unwanted by the public or if it is wanted, no national poll has been able to find evidence of that fact, unaffordable even with the Bernie Madoff-style accounting of the Democrat Party, laden with pork, backroom deals and dripping with ...

Fed: regulation 1st defense against speculation (AP via Yahoo! News)
Stronger regulation should be the first line of defense against excessive speculation that could send the economy into a new crisis, Federal Reserve Chairman Ben Bernanke said Sunday.

Ping An Says Solvency Remains Stable After New Accounting Rules (BusinessWeek)
Ping An Insurance (Group) Co. said the company’s solvency remains stable after the insurer instituted new Chinese accounting rules changes, according to a filing to Shanghai’s stock exchange.

PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD INSPECTION REPORTS UPDATE (Accounting Education)
The Public Company Accounting Oversight Board has updated its audit firm inspection reports. Clancy and Co., P.L.L.C. Davie Kaplan, CPA, P.C. Davis, Kinard & Co.

Supreme Court considers accounting oversight panel (Arkansas News Bureau)
As part of its efforts to tighten oversight of internal controls and outside auditors following accounting scandals at Enron Corp., WorldCom and Tyco International, Congress created the Public Company Accounting Oversight Board.

CBiz purchases Goldstein Lewin & Co. business (AP via Yahoo! Malaysia News)
Accounting services provider CBiz Inc. said Monday that it purchased the non-attest portion of accounting and financial services firm Goldstein Lewin & Co. in order to bolster its South Florida presence.

CBiz purchases Goldstein Lewin & Co. business (San Francisco Chronicle)
Accounting services provider CBiz Inc. said Monday that it purchased certain businesses of accounting and financial services firm Goldstein Lewin & Co. in order to bolster its South Florida presence. Terms of the deal were not disclosed, but CBiz anticipates... Business - Financial services - Accountancy - Accounting - United States

Outsourcing the Carbon Accounting Chore (E-Commerce Times)
Carbon accounting outsourcing could be the next big thing in the $80 billion business process outsourcing industry. Early out of the gate is FirstCarbon, a carbon data management subsidiary of global outsourcing services provider ADEC Solutions. Launched in June 2009, FirstCarbon is touted as the first outsourcing firm to allow companies to hand over their carbon reporting activities to a third ...

CBiz purchases Goldstein Lewin & Co. business (AP via Yahoo! News)
Accounting services provider CBiz Inc. said Monday that it purchased certain businesses of accounting and financial services firm Goldstein Lewin & Co. in order to bolster its South Florida presence.

Miami accounting programs moving up in national rankings (The Hamilton Journal News)
OXFORD - Undergraduate and graduate programs in accounting offered by Miami University’s Farmer School of Business have moved higher in a national ranking, the Annual Survey of Accounting Professors conducted by Public Accounting Report.

CPA Firm Roth Murphy Sanford Merges with Carr, Riggs & Ingram (dBusinessNews.com)
BIRMINGHAM, AL – New Orleans CPA firm Roth Murphy Sanford L.L.P. (RMS) has merged with Carr, Riggs & Ingram, LLC (CRI), the fourth largest accounting firm in the Southeast – a move that expands CRI’s footprint to six states while enhancing public accounting and management consulting services throughout Southeast Louisiana.

First Focus Funds Taps Jackson Fund Services for Accounting and Administration Needs (Business Wire via Yahoo! Finance)
CHICAGO----Jackson Fund Services, a division of Jackson National Asset Management, LLC, a leading asset manager and third-party fund administrator, announced today that it has been selected to provide fund accounting and administrative services to First Focus Funds, the proprietary mutual fund family of First National Bank of Omaha, Nebraska.

New Research Unveils Five Factors Driving Opportunities for Accounting Firms (SmartPros Accounting)
"We've identified five key factors that are driving new opportunities for accounting firms in this difficult business environment," said Rick Telberg of Bay Street Group LLC, the leading market research firm for the accounting profession.

Accounting firm expands presence (The Clarion-Ledger)
Carr, Riggs & Ingram accounting firm is set to grow its presence in the Southeast with today's announcement of a merger with New Orleans-based Roth Murphy Sanford LLP.

Accounting firm partner di Florio named to head SEC inspections office blamed in Madoff fiasco (Canadian Business)
WASHINGTON - A partner in big accounting firm PricewaterhouseCoopers has been named to head a key division of the Securities and Exchange

Accounting partner to head SEC inspections (Denver Post)
A partner in big accounting firm PricewaterhouseCoopers has been named to head a key division of the Securities and Exchange Commission blamed for contributing to the breakdown that allowed Bernard Madoff's multibillion-dollar fraud to go undetected for 16 years.

Accounting firms have merged (Montgomery Advertiser)
The accounting firm of Carr, Riggs & Ingram, which has a Montgomery office, announced it has merged with Roth Murphy Stanford.

Supreme Court considers accounting oversight panel (Arkansas News Bureau)
As part of its efforts to tighten oversight of internal controls and outside auditors following accounting scandals at Enron Corp., WorldCom and Tyco International, Congress created the Public Company Accounting Oversight Board.

Research and Markets: The Latest Report on Opportunity Assessment and Demand Trend Analysis of the U.S. SMB Accounting ... (Business Wire via Yahoo! Finance)
DUBLIN----Research and Markets has announced the addition of the "Opportunity Assessment and Demand Trend Analysis of the U.S. SMB Accounting & Enterprise Resource Planning Market 2009" report to their offering.

(AFX UK Focus) 2010-01-05 18:30 BDO accounting firms rebrand under one name (Interactive Investor)
NEW YORK, Jan 5 (Reuters) - BDO, the fifth largest global accounting firm network, said on Tuesday all of its member firms in 110 countries will now go by the single name "BDO." The firms, which have 1,138 offices worldwide, began operating under the BDO moniker at the beginning of their year, rather than their former traditional names like BDO Seidman in the United States and BDO Stoy Hayward ...

Prentiss Willson, Leader in State and Local Tax Arena, Receives BNA Tax & Accounting's 2009 Latcham Award for ... (PR Newswire via Yahoo! News)
ARLINGTON, Va., Jan. 5 /PRNewswire-USNewswire/ -- BNA Tax & Accounting recently announced that the 2009 Franklin C. Latcham Award for Distinguished Service in State and Local Tax Law would be given to Prentiss Willson, former national director of Ernst & Young's State and Local Tax Practice and Procedure and a widely recognized authority on state tax issues. The Latcham Award is named for ...

/C O R R E C T I O N -- BNA Tax & Accounting/ (PR Newswire via Yahoo! News)
In the news release, Leading Tax Practitioners Explore Research & Development Tax Credit Case's Impact on U.S. businesses, issued 05-Jan-2010 by BNA Tax & Accounting over PR Newswire, we are advised by the organization that in the last paragraph, the time of the webinar should read "3:00-4:30 pm, ET" rather than "12:30-2:00 pm, ET" as originally issued inadvertently. The complete, corrected ...

Prepaid Card Holdings, Inc. Interviewing New Accounting Firms (Business Wire via Yahoo! Finance)
LAS VEGAS----Prepaid Card Holdings, Inc. announced today it is conducting a search for a new accounting firm. Gruber & Company LLC of Lake Saint Louis, MO had previously audited the company’s financial statements and assisted in preparing the company’s quarterly filings.

Supreme Court considers accounting oversight panel (Arkansas News Bureau)
As part of its efforts to tighten oversight of internal controls and outside auditors following accounting scandals at Enron Corp., WorldCom and Tyco International, Congress created the Public Company Accounting Oversight Board.

FASB ISSUES ACCOUNTING STANDARDS UPDATE NO. 2010-01, EQUITY (TOPIC 505): ACCOUNTING FOR DISTRIBUTIONS TO SHAREHOLDERS ... (Accounting Education)
Today the FASB issued Accounting Standards Update No. 2010-01, which provides guidance on accounting for distributions to shareholders with components of stock and cash. The new guidance is effective for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis....

Walgreen signs accounting services contract (AP via Yahoo! Finance)
Drugstore operator Walgreen Co. said Wednesday it signed a 10-year accounting services contract with Genpact for undisclosed financial terms.

Grassley seeks accounting of 'Cash for Clunkers' costs (Washington Post)
A top Senate Republican has asked for a full accounting of the "Cash for Clunkers" incentive program as the Department of Transportation puts the finishing touches on last summer's economic boost to the struggling auto industry.

Accounting for M&As "poorly applied" by companies, warns watchdog (vnunet.com)
Kevin Reed, Accountancy Age , Thursday 7 January 2010 at 08:41:00 Business finding M&A accounting a struggle; investors unhappy with the subsequent results, says the FRC Improvements must be made to the way businesses account for merger and acquisitions, warns the profession's watchdog. Businesses have "poorly applied" accounting rules for business combinations, a study by the Financial ...

Walgreens sells accounting services (The Danville Commercial-News)
More than half of the approximately 750 employees at Walgreens’ Danville Accounting Center soon will have a new employer.

AspDotNetStorefront and eBridge Integrate to Bring Accounting Packages to eCommerce (redOrbit)
WESTLAKE, Ohio, Jan. 7 /PRNewswire/ -- AspDotNetStorefront, the leader in Microsoft ASP.NET eCommerce shopping cart software is proud to announce a partnership with eBridge Software, a world leading provider of accounting software integration solutions.