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Accounting News 06/2011



RootWorks Launches National Search-Driven Website for Members
RootWorks, the accounting profession's premier membership-based education organization, announced the launch of its member-exclusive, search-based national website for tax and accounting professionals.

Accounting that kills
It's a deadly disease that most fast-growing companies will contract, sooner or later: $6 millionitis. But there is a cure.

Gemini Fund Services Announces Expanded Compliance and Accounting Capabilities
Gemini Fund Services, an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, today announced an expansion of its compliance and accounting capabilities through strategic partnerships with two investment solutions firms, Charles River Development and TKS Solutions, LLC.

Aronson LLC Announces Four New Partners
Aronson LLC, a nationally ranked top 50 accounting and consulting firm headquartered in Rockville, Md. announced the appointment of four new partners: Brenda Jayne, the firm's Chief Financial Officer; Philip Steigner and Nicole Mitchell of Aronson's Government Contract Services Group; and Chavon Wilcox of the Construction Industry Services Group.

Marks Paneth & Shron LLP Names Brian L. Fox CFO
NEW YORK, NY--(Marketwire - 06/01/11) - New York-area accounting firm Marks Paneth & Shron LLP (MP&S) has appointed Brian L. Fox, CPA, 36, as Chief Financial Officer. At MP&S, Mr. Fox will oversee a strong financial team and spearhead a financial strategy to support the firm's ongoing growth and expansion. MP&S is currently the 30th largest accounting firm in the nation and the 13th largest in ...

Financial Accounting Standards Board Launches IN FOCUS: WEBCAST Educational Webcast Series with CPE Credit
The Financial Accounting Standards Board today announced the launch of IN FOCUS: WEBCAST, an educational webcast series that will offer continuing professional education credit to those participating in these live broadcasts.

Giftcards for Causes Wins More Than $10,000 in Prizes at Sage Simply Accounting's 'Make Your Case for $10K' Contest
TORONTO--(Marketwire - 06/02/11) - Sage announced today that its Sage Simply Accounting business, in cooperation with LinkedIn , Staples and leading Canadian entrepreneurship advisor Evan Carmichael , has awarded more than $10,000 worth of products and services to Toronto small business Giftcards for Causes as part of its 'Make Your Case for $10K' contest. Selected from an array of entries via ...

Accounting Giant KPMG LLP Faces $350 Million Gender Discrimination Class Action
Although KPMG LLP â one of the "Big Four" accounting firms â publicly touts its commitment to diversity and equal opportunity, the numbers tell a different story entirely. Women comprise about half of KPMG's employees, but are conspicuously absent from the top leadership positions.

SEC settles insider-trading case with ex-chief of Waste Management
A federal enforcement case stemming from a long-ago accounting scandal has ended in a fizzle. It began with a bang. In 2003, the Securities and Exchange Commission charged that a former Waste Management executive engaged in insider trading by selling company stock before the company had disclosed financial weaknesses. Read full article >>

Deja Vu: Groupon's Bubble 1.0 Approach To Accounting
I've just started diving into the Groupon S-1 filing, which among other things demonstrates truly stunning growth for the daily deals company. But what immediately caught my eye was Groupon's declaration that it measures its business using a variety of ...

Local accounting firm to join forces with LarsonAllen
Accounting firm Raymon Pielech Zexter PC (RPZ) will join with Minneapolis-based LarsonAllen LLP (LarsonAllen), effective July 1, according to RPZ managing shareholder Jeff Raymon.

US accounting watchdog mulls audit rule changes
US-listed companies could be forced to regularly change their auditors, according to the US accounting industry's leading regulator.

Accounting Transition Advisors Expands to Canada
Accounting Transition Advisors, a consulting firm that provides succession, transition, and merger and acquisition services to accounting firms, has partnered with a trio of Canadians to expand its services across the border.

Irish banks may have to declare extra losses under accounting rules change
Irish banks may be forced to declare millions of euros of extra losses under surprise plans by Ireland's authorities for the immediate overhaul of bank accounting regulations.

Accounting Assistant
Position: Accounting assistant Duties : Assist Accountant in all accounts works Report to Accountant and Finance Manager. Job type: Full time Location: HCMC, Vietnam, Deadline to apply: June 20th, 2011.

Ferris AMC Selects Yardi Voyager Investment Management to Streamline Fund Accounting
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PUBLIC ACCRUAL ACCOUNTING SYSTEM TO HAVE COMPLETE NATIONAL ROLL-OUT BY 2016
KUCHING, June 6 (Bernama) -- The implementation of the accrual accountingsystem by the Department of the National Accountant of Malaysia is expected tohave a complete national roll-out by 2016, Chief Minister Tan Sri Abdul TaibMahmud said today.Taib, who is also state finance minister, said the department would start toimplement the system in stages from 2014 due to the need for more ...

Vancouver SMB switches to accounting program tailor-made for construction industry
If your business is spending a lot of time using accounting software built as a one-size-fits-all solution, it may be time to discriminate a little more.

Veramark Releases VeraSMART v10 Call Accounting
ROCHESTER, NY--(Marketwire - 06/06/11) - Veramark Technologies Inc. (VERA), a leading provider of Telecom Expense Management (TEM) solutions, has announced the release of VeraSMART v10 Call Accounting software, an easy to use, time-saving and cost saving tool for people responsible for managing the communications environment. VeraSMART v10 Call Accounting is the latest version of software that ...

PCLaw Legal Billing and Accounting Software Goes Mobile
LexisNexis , a leading global provider of content-enabled workflow solutions, today announced the launch of a new mobile application for PCLaw®, a leading legal billing and accounting software offering for law firms.

Accounting and Finance Professionals Gather for IMA’s 92nd Annual Conference & Exposition
Accounting and finance professionals from the U.S. and around the world have convened at the Hilton Bonnet Creek Hotel in Orlando, Fla. for IMA®’s 92nd Annual Conference & Exposition.

Melissa Solis Promoted to Vice President - Chief Accounting Officer of Federal Realty Investment Trust
ROCKVILLE, Md. , June 6, 2011 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT - News ) today announced that Melissa Solis has been promoted to vice president - chief accounting officer, effective July 1, 2011 . Â Previously, Mrs. Solis was controller for the Trust. In her new role Melissa will oversee all aspects of the Trust's accounting department including financial reporting ...

Chief Minister: New accounting system good for country
KUCHING: The proposed introduction of accrual-based accounting system in the public sector would lead to better transparency in [...]

Confab focuses on accrual-based public sector accounting
KUCHING : The 2-day National Public Sector Accountants Conference (Napsac) 2011 here is putting special focus on the government’s effort to adapt an accrual-based public sector accounting.

Tianli Agritech, Inc. Appoints Crowe Horwath as Independent Registered Public Accounting Firm
WUHAN CITY, CHINA--(Marketwire - 06/07/11) - Tianli Agritech, Inc. (NASDAQ: OINK - News ) ("Tianli" or "the Company"), a leading producer of breeder hogs and market hogs based in Wuhan City, China, announced today that the Audit Committee of its Board of Directors has appointed Crowe Horwath (Hong Kong) CPA Limited ("Crowe Horwath") as the Company's independent registered public accounting firm ...

White House defends auto bailout accounting
Washington — The White House defended Tuesday its accounting of the government's $85 billion auto bailouts after a fact-checker accused the Obama administration of "misleading" the public.

Glenwood Beer Distributors Selects HighJump Route Accounting System
HighJump Software, a global provider of supply chain management software, announced Glenwood Beer Distributors Inc. has selected the HighJump™ RouteCenter route accounting system to manage its direct store delivery operations.

Encino CPA, Raymond Furness, Now Provides Proactive Accounting Services to Help Companies Plan for Their Financial Needs
Encino CPA, Raymond Furness, and his CPA firm Furness and Associates, now offer proactive accounting services to businesses, large and small, in Encino and the surrounding area, helping them to better plan for their financial needs and growth of their businesses.

CLX Medical Inc., DBA Stealth Logistics Group to Announce Accounting Service Contract
CLX Medical Inc. , doing business as “Stealth Logistics Group” , a motor freight transport company, is in the process of hiring a national accounting service firm. The candidate Certified Public Accounting firm specializes in smaller reporting company audits and private company audits throughout North America.

RBS Faces Accounting Accusations From British Lawmakers
The Royal Bank of Scotland Group has been accused by two British members of Parliament (MPs) of distorting its accounts. MPs David Davis and Steve Baker allege that the company could be understating its capital position by as much as £25 billion ($41 billion), according to the reports.

Again With the Auditors!:Accounting Irregularities Are Not Something New
?????? If you find the time to peel yourself away from the Anthony Weiner denial-admission shame gam

Lerner Selects Yardi Voyager for Property Management and Accounting Software
Yardi announced today Lerner Enterprises has selected Yardi Voyager™ as its new property management and accounting platform.

Wave Accounting Closes Investment Round
TORONTO, ONTARIO--(Marketwire - 06/09/11) - Wave Accounting Inc., the creators of free online accounting software for small businesses, announced the closing of its seed round of financing, led by OMERS through INKEF Capital, the venture capital investment alliance of pension funds OMERS (Canada) and ABP (the Netherlands). "One of the most exciting aspects of closing our $1.5 million seed round ...

Accounting Fears Hit Chinese Stocks
Allegations of accounting irregularities at some smaller Chinese companies have eroded demand for larger peers including Sina, Baidu and Sohu.com

Higher pay rises on offer for finance and accounting
Finance and accounting practitioners have fared well in the latest round of salary surveys, receiving one of the highest pay increases across the board at 4.1 per cent.

Accounting error found in Griswold budget figures
Griswold - An accounting error in town documents means that residents who voted in the budget referendum Tuesday rejected a spending plan that would have raised their tax rate by 1.99 mills rather

Bloomberg’s Weil Exposes Another Accounting Regulator Coverup
Jonathan Weil has a tough Bloomberg View column about accounting regulators covering up wrongdoing by companies and their auditors.

Migrate from traditional system to accrual based accounting
Srinagar, Jun 10: Underscoring the need for a smooth and time-bound migration of government accounts from traditional (manual) system to Accrual Based Accounting (ABA), the minister for Finance Abdul Rahim Rather today called for undertaking integrated orientation courses on massive scale to make the concerned accounts functionaries abreast with this new concept of accounting reform.

Accounting excellence
The impression that Education Development International (EDI) international business development manager Luke Wales had of Malaysian students was that they were a hardworking lot.

19. Accounting excellence
The impression that Education Development International (EDI) international business development manager Luke Wales had of Malaysian students was that they were a hardworking lot.

Fuzzy Accounting Enriches Groupon
If investors accepted Groupon’s fantastical form of accounting, all sorts of companies would be worth billions more, too.

Marks Paneth & Shron LLP Names State and Local Taxation Specialist as Principal in Tax Group
NEW YORK, NY--(Marketwire - 06/13/11) - New York-area accounting firm Marks Paneth & Shron LLP (MP&S) has appointed state and local tax (SALT) specialist Steven P. Bryde, JD, 57, as a principal in the firm's Tax Group. Mr. Bryde has approximately 25 years of public accounting experience and has worked in both global and regional firms. He most recently served as a tax principal at MBAF-ERE CPAs ...

Rise Interactive Upgrades Financial System With Intacct Cloud Financial Management and Accounting Software
SAN JOSE, CA--(Marketwire - 06/13/11) - Intacct, a leader in cloud financial management and accounting software , today announced it has added Rise Interactive, a full-service Internet marketing services agency, to its rapidly expanding base of professional services industry clients. Rise, which specializes in data driven online marketing services such as search engine optimization, paid search ...

Accounting made easier for SMEs
SMALL and medium enterprises (SMEs) will now have a chance to simplify their accounting, payroll, and human resource functions in one software solution: Global CyOne.

Wolters Kluwer Tax & Accounting Expands European Online Software Solutions with Acquisition of Twinfield
RIVERWOODS, IL--(Marketwire - 06/14/11) - Wolters Kluwer Tax & Accounting today announced the acquisition of Twinfield, a Dutch-based pioneer and market leader in online accounting software, serving professionals in the Netherlands, UK and Scandinavia. Through this acquisition, Wolters Kluwer expands and complements its existing offering of advanced software solutions for accountants and finance ...

Wolters Kluwer Tax & Accounting Expands European Online Software Solutions with Acquisition of Twinfield
Wolters Kluwer Tax & Accounting today announced the acquisition of Twinfield, a Dutch-based pioneer and market leader in online accounting software, serving professionals in the Netherlands, United Kingdom and Scandinavia.

New River Innovation Wins CPA Practice Advisor’s Technology Innovation Award for Beyond415™—Powerful SaaS Application ...
Beyond415 wins the accounting profession's top accolade—Technology Innovation Award—in its first year of release. Beyond415 is the only IRS Response system available to the accounting profession. (PRWeb June 14, 2011) Read the full story at (link) prweb8567186.htm

Uganda: Accounting Software to Ease Business Management
Business management for some of Uganda's enterprises is set to ease following the development of a new automation and accounting software tailored to meet their needs.

Retired professor named 2011’s Outstanding Accounting Educator
The Ohio Society of Certified Public Accountants and the American Accounting Association honored a former Kent State accounting professor who is still impacting the community even after retirement. The OSCPA named Norman Meonske the 2011’s Outstanding Accounting Educator at the American Accounting Association Ohio Region meeting, May 13. Meonske will be recognized again this Thursday at OSCPA’s ...

FASB Launches New Taxonomy Online Review and Comment System
The Financial Accounting Standards Board recently launched a new system that provides greater transparency for users of eXtensible Business Reporting Language and makes it easier for stakeholders to submit comments on the US GAAP Financial Reporting Taxonomy.