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Accounting News 04/2013



Stern to secede from NYU, professors unite accounting prowess
Stern professors are encouraging students to turn their accounting skills into powerful weapons for the separation from NYU. Sexton was alerted to the decision after a mysterious package was delivered to his home. Enclosed in the stiff manila folder ...

Accounting Thought Leader Richard Muscio Believes the Game has Changed
Accounting Thought Leader Richard Muscio Believes the Game has Changed. Richard Muscio was recently quoted in Accounting Today on why CPA's must become “most trusted advisors” to their top clients or risk becoming dinosaurs. Share on Twitter ...

Chartered Professional Accountants of Canada operational
TORONTO, April 1, 2013 /CNW/ - Today marks an historic milestone as Chartered Professional Accountants of Canada (CPA Canada), a national accounting and business organization, officially became operational. CPA Canada was established earlier this ...

Company Announcements: Week of April 1, 2013
In a continued effort to become the largest and best financial services corporation in the United States, Foundation Financial Group (FFG) maintains its approach of organic growth through career development programs, corporate paid licensing, and ...

Abramowitz verifies accounting certifications
Roy Abramowitz has all his accounting certification and firm memberships up to date, according to documents Abramowitz has shared with the Advertiser. Those qualifications were called into question back in January when Abramowtiz was vying for a vacant ...

UF researchers give thumbs-up to online accounting tool for research
Biologists, historians, geneticists and philosophers are not accountants, and now that the University of Florida has launched a new online tool to track its nearly $700 million in annual research funding, they don't need to be. Stephanie Gray, who took ...

Accounting student receives scholarship from financial organization
For a college student, receiving a scholarship is not just a financial help. Winning an award from an organization shows the dedication, work ethic and responsibility that employers look for in potential job candidates. Junior accounting major Eric ...

Cost of war requires honest accounting
The Iraq War was going to pay for itself from Iraqi oil revenues, according to senior Bush administration officials in the run-up to the U.S. invasion. When it became clear that was unlikely, the Bush administration, instead of raising taxes, as we had ...

Western Asset Mortgage (WMC) Trims FY12 EPS Results on Accounting Discovery
Western Asset Mortgage Capital (NYSE: WMC) reported that during the process of preparing its 2012 financial statements, the Company discovered the methodology that was used to accrete interest income and to amortize the cost basis of certain of the ...

Celanese (CE) Changes Pension Accounting Policy; Updates FY12 Results
Celanese Corporation (NYSE: CE) announced its plans to change its accounting policy for its defined benefit pension plans and other postretirement benefit plans (collectively, "Plans"). Under the new accounting policy, referred to as mark-to-market ...

Wait Continues for Lease Accounting Clarity
The Financial Accounting Standards Board (FASB) recently extended the launch of its revised exposure draft on lease accounting in February until sometime in early May. But lease accountants and other executives say the draft could even be pushed back ...

Celanese to change pension accounting policy
DALLAS -- Specialty materials and chemical products company Celanese said Tuesday that it is changing the accounting policy for its defined benefit pension plans and other benefit plans used by retirees. The company will no longer defer and amortize ...

3 S&P 500 Dividend Stocks With Encouraging Accounting Trends
We screened for stocks seeing faster growth in revenue than accounts receivable year-over-year, as well as accounts receivable comprising a smaller portion of current assets over the same time period. Finally, we looked for those stocks with faster ...

As tax deadline looms, accounting firms provide stress relievers for employees
Enlarge Katy Batdorff | MLive.com Scott Gerhardt visits his son Ethen, 3, at day care Saturday morning during his work day at Crowe Horwath. The accounting firm offers perks to help their employees during the busy tax season, including providing ...

Accounting Management Solutions Consolidates Larger Company Practice ...
Accounting Management Solutions Consolidates Larger Company Practice ...

GAAP Accounting Could Complicate Assessment Rebate
However, he said timing could present a problem for accountants, as could the reasons for the rebate. Should the NCUA rebate money in January, it could potentially be interpreted as a “fix” for the prior year's assessment. However, if a rebate would ...

TriMet's charges to city for east-side streetcar loop need full accounting
And this time around, The Oregonian's Brad Schmidt reported, the accounting is sparse. On-the-fly briefings of council members were taking place midday Tuesday at City Hall in an effort to ease passage of agenda Item 290 so that TriMet can be paid for ...

Bookkeeping & Accounting
Growing green construction firm seeking experienced bookkeeper for oversight of payroll systems, accounts receivable, accounts payable, and reporting processes. The qualified candidate has strong analytical and strategic thinking skills necessary to ...

Charles Arlinghaus: The House budget uses lots of accounting gimmicks
To begin with, while general fund spending is up 9.1 percent over the two years of the budget, that fact is obscured by a return to accounting gimmicks that serve no real purpose except to hide the increase. Two large categories of spending have been ...

Editorial: Cost of war requires honest accounting
The Iraq war was going to pay for itself from Iraqi oil revenues, according to senior Bush administration officials in the run-up to the U.S. invasion. When it became clear that was unlikely, the Bush administration, instead of raising taxes, as we had ...

Lean Accounting Workshop Explains the Logic, Key Principles, Plus a Proven ...
Lean Accounting Workshop Explains the Logic, Key Principles, Plus a Proven ...

Air Pollution Accounting for 15 Percent of Deaths in China
According to the April 2 edition of Chinese daily newspaper the 21st Century Business Herald, in the year 2010 an incredible 1.23 million people lost their lives across China due to air pollution-related illnesses. The number accounts for 15 percent of ...

Ajoy Management Enterprise Expands Accounting Services for Small ...
Ajoy Management Enterprise Expands Accounting Services for Small ...

Introducing ViaVero: A Fresh Approach to Accounting and Finance Consulting
COLUMBUS, OH--(Marketwired - Apr 3, 2013) - International Finance Group (IFG) Columbus, a professional services firm providing finance and accounting consultants and recruiting services to organizations throughout Central Ohio, recently announced that ...

Celanese Tweaking Pension Accounting
Per the new policy dubbed mark-to-market (MTM) accounting, Celanese will recognize actuarial gains and losses and changes in the fair value of the plans' assets in the fourth quarter every year. As such, it will no longer defer and amortize actuarial ...

Celanese Tweaking Pension Accounting - Analyst Blog
Celanese expects that the accounting change will offer investors with greater transparency into its operating results and enable them to better assess its underlying operating performance. It further noted that the change will not impact benefits ...

Chinese Flock to US Accounting Programs
When the business school at the University of California, Davis, started its master's program in accounting last year, administrators expected to attract aspiring accountants from nearby colleges. What they got instead was a wave of interest from ...

Insurer Off Hook For Accounting Biz's $259M Judgment Share
Law360, New York (April 01, 2013, 4:59 PM ET) -- A New York federal judge ruled Thursday that a wrongful acts exclusion saves Admiral Insurance Co. from covering Silverman Neu LLP in a class action alleging the accounting firm helped debt counseling ...

Newly Merged Armonk Accounting Firm Earns National Praise
Accounting Today recently released its annual Top 100 Firms/Regional Leaders report, ranking Prager Metis International number one of the listed 35 “Firms to Watch”. In order to be eligible for the list, firms had to have revenue growth in 2012 and ...

Averting the Pension Cliff with Commonsense Accounting Principles
At the recent Global Investment Risk Symposium, Ron Ryan, CFA, of Ryan ALM, appealed for greater transparency and the application of commonsense principles in pension accounting, warning that without such changes the solvency of corporations, cities, ...

Vodafone Restates Results in Change to Accounting for Ventures
Rather than taking a proportion of revenues and earnings for jointly owned businesses in Italy, Australia, India and Fiji, and telecommunications-tower builder and operator Indus Towers Ltd., and accounting for them in its income statement, Vodafone ...

Financial Accounting Foundation Names David A. Vaudt Chairman of the ...
Financial Accounting Foundation Names David A. Vaudt Chairman of the ...

Vodafone adopts IFRS accounting; restates results
LONDON: Vodafone Group today said it is restating financial results for the year ended March 31, 2012 as well as six months ended September 30, following the adoption of new accounting rules, International Financial Reporting Standards. IFRS have been ...

Iowa auditor resigns to head accounting nonprofit
Vaudt will serve a single, seven-year term as chairman of the seven-member Governmental Accounting Standards Board, which is based in Norwalk, Conn. The nonprofit group works to improve financial accounting and reporting standards for state and local ...

What Makes a Successful Accounting Firm Business Developer?
After an accounting firm's marketing department has identified its optimal target markets and developed messaging that speaks to this target's needs (as discussed in “What Makes a Successful Accounting Firm Marketer?”), the business developer's goal is ...

Accounting and Finance Outsourcing to Surpass $25B
Ron Walker, a partner with KPMG and the finance and accounting service line leader for KPMG's Shared Services and Outsourcing Advisory practice, said that business process outsourcing of finance and accounting “needs to be viewed as an extension to an ...

New Maui Startup Offers Cloud Based Accounting Software To Small Businesses
It's difficult being a start-up company anywhere, let alone Maui. It's especially difficult when your start-up is in accounting, which is somewhat less sexy than online movie rentals or social media apps. But two years after starting its development ...

Cost of war requires honest accounting
Cost of war requires honest accounting. Posted: Thursday, 04/04/13 06:04 pm. CONTRIBUTE. Story Ideas; Send Corrections. The Iraq war was going to pay for itself from Iraqi oil revenues, according to senior Bush administration officials in the run-up to ...

Accounting Firms Tally High Margins
As April 15 approaches, accountants handling tax returns for households are logging long hours to meet the filing deadline. But many accounting firms' staff work long hours throughout the year, thanks to business-related tax deadlines and other types ...

4 Dividend Paying Companies Reporting Earnings In April With Encouraging ...
4 Dividend Paying Companies Reporting Earnings In April With Encouraging ...

Spain's Pescanova Goes Bust After Fishy Accounting
In mid-March Galicia-based Pescanova said it found discrepancies between its accounts and its bank debt a day after the stock market regulator opened an investigation into the company for possible market abuse. "Given that it has not been possible in ...

Decosimo Acquires Solvability, a Government Contractor Accounting Firm
"With the government contractor concentration in Huntsville and our regional firm's growing client base in this industry, it was important for us to complement our traditional assurance and tax services with the compliance advisory and specialized ...

Armanino to Shift Small Business Accounting Clients to Xero
By Seth Fineberg. Accounting services and technology consultancy Armanino has selected to move its small business outsourcing clients from their current accounting platforms to Xero, making them the largest firm thus far to do so. Jamie Sutherland ...

Financial Accounting Foundation Names David A. Vaudt Chairman of GASB
On April 4, 2013, Iowa Auditor of State David A. Vaudt was named as the next chairman of the Governmental Accounting Standards Board (GASB), effective July 1, 2013. The appointment was made by the Board of Trustees of the Financial Accounting ...

Kashoo Updates iPad App, Further Simplifies Anytime, Anywhere Small ...
Kashoo Updates iPad App, Further Simplifies Anytime, Anywhere Small ...

Corporate accounting earnings data relevant for determining value of the ...
Corporate accounting earnings data relevant for determining value of the ...

Port of Greater Cincinnati names new accounting manager
She will be responsible for general accounting, payroll and compliance functions for the port and Hamilton County Land Reutilization Corp. (Landbank) related to real estate and revitalization projects and ongoing agency operations. Cargile has more ...

Senior Finance/Accounting Analyst
Senior Finance/Accounting Analyst performs assigned financial and accounting analytical duties, under the direction of management. Monitors accounts payable transactions for accuracy, administers daily banking functions, performs monthly ...

Accounting temp hiring OK'd by Ukiah City Council
The Ukiah City Council Wednesday approved the hiring of an accounting consultant to help city staff with implementing its new financial software system. "I came away fully persuaded that this expenditure makes sense, and also fully hopeful for the ...

Atlanta hosting forensic accounting conference
Event spokeswoman Terri Thornton says the conference is designed to help accountants, educators, investigators, auditors and attorneys hone their skills. The event is being hosted by Georgia Southern University's Center for Forensic Studies in ...