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Accounting News 10/2010

Accounting Software leverages i integration, Power7 CPUs.
Run natively on IBM i and DB2, CODA Financials on IBM i v7.1 will let users deploy financial application on array of IBM POWER7® processor-based systems. It also integrates with other business applications, allowing organizations to create real-time interaction between applications written in RPG, COBOL, and/or Java and CODA Financials using CODA web services, all while running on one hardware ...

Herts County Council makes £21 million accounting error
A MISTAKE in the county council’s accounting led to its bank balance being overstated by some £21 million.

Green Mountain’s accounting creates a stir
Regulators want a closer look at policies at the fast-growing coffee company, which have been modified over the years. Green Mountain seeks swift end to inquiry.

Top 10 NY accounting firm inks bicoastal deal
Hilary Potkewitz - Accounting firm Marcum LLP announced Friday that it has merged with Stonefield Josephson, a Los Angeles-based accounting firm with 150 accountants in six offices in California and one in Hong Kong. Marcum was already a Top 15 firm nationally; Friday's deal created a nationwide accounting firm with 1,100 professionals spread around 21 offices. Terms of the deal were not ...

Accounting and Finance: BPM joins NBLC; accounting board releases audit report
Burr Pilger Mayer is the newest member of North Bay Leadership Council. The leadership council’s chair, Don Chigazola, a director for Medtronic CardioVascular, said, “Burr Pilger Mayer will bring new diversity of industry sectors to our membership. We are excited to have one of the top public accounting firms in the U.S. join in NBLC’s efforts to improve education and economic competitiveness in ...

Nominal Accounting Software Seeks User Feedback from Small Business Owners
Nominal Accounting Software â an easy-to-use, ATO compliant, small business accounting package that has all the features you need.

Accounting scion still crunching numbers
CHARLESTON, W.Va. -- He had big shoes to fill, but he apparently stepped into a perfect fit. At 73, he still works full time at Rollins Cleavenger and Rollins, the venerable accounting firm founded by his father in 1921. Its the oldest firm of its kind...

Proposed changes to accounting rule rankle real estate community
Proposed changes to an accounting rule, requiring companies to place the expense of operating leases on their balance sheets, is raising alarm within the commercial real estate community. Opponents say the restructuring of Financial Accounting Standards 13, or FAS 13 as the rule is called, might...

Research and Markets: Finance and Accounting Essentials for Non-Financial Professionals
DUBLIN--(BUSINESS WIRE)--Research and Markets ( (link) finance_and_accoun) has announced the addition of the "Finance and Accounting Essentials for Non-financial Professionals" training to their offering. Each course is broken down further into a series of lessons as follows: (1) Principles of Accounting and Finance for Non ...

Sea Change for Lease Accounting
The lease-accounting rule changes proposed this past summer by the International Accounting Standards Board and the US Financial Accounting Standards Board have been called “long overdue” as well as “drastic” and a potential “burden.”

AICPA Wants New Standards Board for Private Companies
AICPA president and CEO Barry Melancon is calling for the Financial Accounting Foundation to set up a separate standards board for private company accounting.

Voter-approved accounting change boosts city of Muskegon budget
MUSKEGON — A change of fiscal years has the city of Muskegon’s budget in as good of shape as it has been in several years.The latest quarterly update of city finances showed the city’s fund balance was about $6 million...

Research and Markets: Accounting 101
DUBLIN--(BUSINESS WIRE)--Research and Markets ( (link) accounting_101) has announced the addition of the "Accounting 101" training to their offering. The "Accounting 101" training bundle consists of the following five courses: (1) Accounting Fundamentals How does a business achieve and maintain profitability? An understanding ...

Research and Markets: Managerial Accounting
Research and Markets has announced the addition of the "Managerial Accounting" training to their offering.

Marcum Leads in Accounting Quality of Life Rankings
Career site Vault.com has released its 2011 Accounting Quality of Life Rankings, examining what accountants really think about their firm s culture, compensation, hours, training, and diversity, among other categories.

Peirce College Introduces New Accounting Program, Continues Expansion of Institution’s Degree Portfolio
PHILADELPHIA--(BUSINESS WIRE)--Peirce College Introduces New Accounting Program, Continues Expansion of Institution’s Degree Portfolio

Research and Markets: Accounting Tips, Tricks & Basics for COOs
Research and Markets has announced the addition of the "Accounting Tips, Tricks & Basics for COOs " audioconference to their offering.

Accounting Maneuvers Float Budget Plan
Lawmakers are getting their first look at a proposed budget agreement that attempts to close California's $19 billion deficit with some spending cuts and a large dose of creative accounting.

Calif. budget plan relies on accounting maneuvers
California lawmakers got their first look during brief committee hearings Wednesday at a proposal that attempts to end the state's record-long budget impasse and close a $19 billion deficit, primarily through targeted spending cuts and a large dose of...

No accounting for some stimulus funds?
WASHINGTON, Oct. 6 (UPI) -- The U.S. Office of Management and Budget says 352 recipients of federal stimulus money have failed to report how it was spent.

Calif. budget plan relies on accounting maneuvers
California lawmakers got their first look Wednesday at a proposal that attempts to end the state's record-long budget impasse and close a $19 billion deficit, primarily through targeted spending cuts and a large dose of creative accounting.

Accounting rules will disclose off-balance sheet activity
New accounting rules will make it harder for banks to hide items off their balance sheet and shed light on last-minute transactions taken just before sensitive reporting periods.

Porte Brown Acquires Chicago Area Accounting Firm Ulbrich & Company
Porte Brown Acquires Chicago Area Accounting Firm Ulbrich & Company. Porte Brown continues growth strategy with acquisition that enhances regional presence and expands client base.

Global accounting body targets bank "window dressing"
Banks will find it harder in future to flatter their results and play down risks by shifting assets off balance sheets just ahead of earnings a global accounting rule setter said on Thursday.

Twinfield Online Accounting Software Helps Goodman Jones to Spend More Time on 'Value Add' Service to Clients
CHELMSFORD, England, Oct. 7 /PRNewswire/ -- Goodman Jones LLP, chartered accountants, is using Twinfield's online accounting software to transform the way it operates and enhance its service to clients. The implementation of Twinfield's online bookkeeping software now allows the practice to connect with clients at any time and from anywhere. In addition, the 'self-learning' functionality built ...

The relevance and scope of academic research, and the adequacy of accounting practices, are among the issues that have been called into question in the wake of the 2008 sub-prime banking crisis and ensuing credit crunch and global financial crisis.

Dean Baker: Currency Wars and Accounting Identities
There are few areas of economics more boring than accounting identities. This is really unfortunate, since it is virtually impossible to have a clear understanding...

Accounting for Taste
When the online reviewing of food overwhelms the real-world fact of food.

Why Companies Should Use the Services of Phoenix Accounting Services
The business climate in Phoenix is highly competitive. As a business owner, you need to have an efficient accounting system to track the status of your financials. Without this, you will experience a lot of problems and tax issues along the way. For most business owners in Phoenix, it is more advisable to outsource their accounting tasks to professional third party service. Hiring a Phoenix ...

Brian Dunham, president of Northwest Pipe, quits amid accounting inquiry
Brian Dunham had been with the Vancouver company for 20 years.

Accounting rules face new scrutiny
Britain's accounting standards and the link to the financial crisis will be put under fresh scrutiny this week as two influential committees hear evidence that the banks have adhered to "dangerously flawed" rules for more than five years.

Growing Demand For Retail Accounting Software From CV Retail
Retail accounting software specialist CV Retail has attended another major European trade event to meet growing demand for its technology. CV Retail showcased the latest version of its CounterBooks online accounting software at the Automechanika 2010 trade fair in Frankfurt, Germany.

PwC-clients asked to reveal information on internal accounting judgments
Mario Christodoulou, Accountancy Age , Monday 11 October 2010 at 09:47:00 Firms attempts to seize initiative amid attempts to reform audit industry PwC-audited companies will be asked to publish more on their internal accounting judgments, as the accounting giant seizes the initiative amid growing attempts to reform the audit industry. The firm, which audits 39% of the FTSE-100, will ask its ...

Research and Markets: Accounting 102 Training Bundle
DUBLIN--(BUSINESS WIRE)--Research and Markets ( (link) accounting_102) has announced the addition of the "Accounting 102" training to their offering. The "Accounting 102" training bundle consists of the following four courses: (1) Accounting for Partnerships Partnerships are voluntary organizations between two or more people ...

Submissions are invited for forthcoming volumes. AIAE publishes a wide variety of articles dealing with accounting education at the college and university level.

Accounting Today VAR 100
New York - Accountnet, Inc. has been selected to Accounting Today magazine's TOP VAR 100 list for 2010.

Intacct Execs Honored by Top Accounting Publication
Accounting Today Names Intacct Vice President of Channels to Top 100 Most Influential People List, and CEO Rob Reid to Future Influencers List

Hoogervorst Named as Next IASB Chairman
Dutch financial markets regulator Hans Hoogervorst will succeed Sir David Tweedie as chairman of the International Accounting Standards Board next June when Tweedie retires from the most powerful and influential position in the accounting profession.

FASB Issues Proposed Accounting Standards Update to Improve Financial Reporting about Troubled Debt Restructurings
The Financial Accounting Standards Board has issued an Exposure Draft of a proposed Accounting Standards Update intended to increase transparency in financial reporting about troubled debt restructurings.

myGPcloud Now Accessible via iPad
Latest Online Accounting System Offers Users the Ability to Access Data on Apple's iPad

Terry Smith Wants Your Money
The author of "Accounting for Growth" leaves his job to start a new asset management firm.

FASB Updates Accounting For Debt Restructuring,
The US Financial Accounting Standards Board (FASB) has issued an Exposure Draft of a proposed Accounting Standards Update (Update) intended to increase transparency in financial reporting about troubled debt restructurings.

21st century research
Technology has spurred a revolution in the tax and accounting practices of most firms.

Dell's Settlement of SEC Accounting-Fraud Claims Approved by U.S. Judge
Dell Inc. , the world’s third-biggest maker of personal computers, won a judge’s approval to pay $100 million to settle accounting-fraud claims brought by the U.S. Securities and Exchange Commission.

Starting Salaries to Rise in Accounting and Finance
Starting salaries in the accounting and finance fields are expected to rise an average of 3.1% in the coming year.

United Kingdom: Accounting In The Technology Industry - Re-Computing Revenue
The new Exposure Draft on revenue recognition, released on 24 June 2010, is another significant draft standard developed jointly by the two main standardsetters, the IASB and FASB, as part of their path towards convergence.

KB Home to cut 66 jobs in Denver accounting office
KB Home said Thursday it will eliminate 66 jobs in Denver in a bid to consolidate two regional accounting centers to a single location.

Corrections & Clarifications
"The Accounting Board Is a Sinecure Qua Non" (Politics & Policy, Oct. 4) stated that the Supreme Court rejected a constitutional challenge to the Public Company Accounting Oversight Board. The court ruled that Congress violated the Constitution by creat...

Cherry, Bekaert & Holland, L.L.P. Named Top Accounting Firm By Metro Magazine
Triangle - RALEIGH, N.C. — Cherry, Bekaert & Holland, L.L.P (CB&H) (http://www.cbh.com) has received the Standing Ovation 2010 MetroBravo! award in the category of Professional Services – Accounting Firms by Metro Magazine.

Job of the Day: Accounting Technician
The Colorado School for the Deaf and Blind in Colorado Springs has an opening for an Accounting Technician. This person will provide technical support work to the school accountant and program managers involving processing of financial transactions and maintenance of accurate & complete records of transactions. The purpose of this position is to: coordinate the School Medicaid Program and all ...