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Accounting News 05/2013



Did JobsOhio accounting firm have conflict of interest?
Jones said the project involving KPMG died in March, meaning the client never received the funds. As one of the “big four” accounting firms, KPMG has 152,000 employees and offices in 156 countries and has joined the other large firms in expanding ...

North American Accounting Professionals See Data Oversight as Top Priority for ...
North American Accounting Professionals See Data Oversight as Top Priority for ...

Sage Deepens Relationship With Accounting Professionals by Launching New ...
Sage Deepens Relationship With Accounting Professionals by Launching New ...

What Makes Your Accounting Firm Stand Out?
Eisenstaedt has done a lot of work with Moore Stephens North America member firms, and dozens of other accounting firms throughout the nation, around client loyalty and grabbing more wallet share of existing clients. Eisenstaedt conducted a webinar for ...

CIC sues former accounting firm, seeks $3 million
JOHNSTOWN - The Crossroads Incubator Corp. recently sued the CIC's former accounting firm, seeking more than $3 million - the same amount two fired economic development officials paid themselves in a 2010 scandal. The CIC on April 19 filed a lawsuit ...

Further remarks on private vs public sector austerity and accounting identities
My post yesterday on whether national accounting identities imply that it is impossible for households to repay mortgages at the same time as the government reduces the deficit seems to have got some of you very excited, raising some issues worth ...

Accounting firm faces claim of conflict of interest in audit of development agency
Jones said the project involving KPMG died in March, meaning the client never received the funds. As one of the "big four" accounting firms, KPMG has 152,000 employees and offices in 156 countries and has joined the other large firms in expanding ...

Syosset Help Wanted: Pharmacy, Accounting Jobs
Candidate must have an in-depth knowledge of principles and practices related to budget development, financial and general ledger analysis and be able to apply generally accepted accounting principles associated with not-for-profits. Capacity to ...

Accounting Today Accepting AUM Submissions
Now in its seventh year, this report from Accounting Today ranks CPA firms involved in financial planning by assets under management, providing an invaluable insight into this burgeoning field. Candidates for the list must be CPA firms that have a ...

Facebook's Chief Accounting Officer David Spillane stepping down, Jas Athwal ...
Facebook's Chief Accounting Officer David Spillane stepping down, Jas Athwal ...

People Moves: Hunton & Williams, Treasury Department, Financial Accounting ...
People Moves: Hunton & Williams, Treasury Department, Financial Accounting ...

Bob Evans Restates Third-Quarter Results on Accounting Error
Bob Evans said that while preparing closing entries of its accounting for the sale of Mimi's Cafe, it noticed an error regarding the treatment of intercompany accounts in calculating the net book value of the segment's assets held for sale as recorded ...

Newport College Student Wins Accounting Award
Officials said the award is given every year to a community college accounting student who plans to transfer to a four-year university, has excellent communication skills and leadership abilities, possesses a GPA of 3.0 or higher, and is interested in ...

Accounting error plunges Bob Evans Farms to $55.2 million 3Q loss
Citing an accounting error, Bob Evans Farms said yesterday that it is restating earnings for its fiscal third quarter of 2013, which ended Jan. 25. The Columbus-based company said it has subtracted a substantial amount from the book value of its former ...

Facebook's Accounting Head, David Spillane, Resigning
Facebook reported middling first quarter earnings Wednesday and along with them an executive departure. David Spillane, the company's chief accounting officer, will leave the company on May 10. The company offered no explanation for Spillane's ...

Troubled agency hires accounting firm for 60-day review
DMR executive director Jamie Miller told the Sun Herald the agency has signed a deal with the Jackson-based accounting firm HORNE LLP. HORNE's contract with DMR will specify the job won't exceed $150,000. The DMR is also working on another ...

Banks Forced to Use Shortsighted Accounting
Current GAAP accounting practices for loan-loss reserving are guided by Financial Accounting Statements 5 and 114. Under this framework bank reserves must reflect only losses that are "inherent" to their portfolios and are "probable" and can be ...

Accounting mentorship gets overwhelmingly eager response
The WSU Delta Epsilon chapter of the international honorary organization for financial information students, Beta Alpha Psi (BAP), developed the program to help accounting students with recruiting and interviewing by connecting them with both student ...

Lease accounting fight tests resolve of global standard setters
Complexity of proposed accounting change undermines support. * Effort to align U.S., international accounting at stake. By Dena Aubin and Huw Jones. NEW YORK/LONDON, May 2 (Reuters) - Corporations may have to shoulder trillions of dollars of new ...

Lease accounting fight tests resolve of global standard setters
NEW YORK/LONDON (Reuters) - Corporations may have to shoulder trillions of dollars of new balance-sheet liabilities under an accounting change for leases that is meeting stiff resistance from businesses in a test of international accounting standard ...

Sources Say SEC Investigating Ebix Accounting -Bloomberg - NASDAQ.com
Financial software company Ebix Inc. ( EBIX ) is the subject of a Securities and Exchange Commission investigation over its accounting practices, Bloomberg News reported Thursday, citing people familiar with the matter. On Wednesday, Epix announced a ...

12 Industrial Good Stocks With Encouraging Accounting Trends
As the US economy continues to show signs of slow but steady growth do you think companies in the industrial goods sector could benefit? With that in mind we wanted to look for industrial goods companies that are showing signs of positive accounting ...

UPS elects board, picks accounting firm
Shareholders of Atlanta-based United Parcel Service Inc. (NYSE: UPS) elected a board of directors for a one-year term and ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accountants today, a news release ...

FASB to Seek Input on Future Accounting Overhauls
An advisory committee to the U.S. Financial Accounting Standards Board is set to launch a survey this month on its future plans for accounting projects after more than a decade of convergence with international accounting rulemakers, the board's ...

HMA subpoenaed by SEC, seeking billing, accounting data
In an earnings release, HMA disclosed that it received a subpoena on April 25 that requests documents relating to its “accounts receivable, billing write-downs, contractual adjustments, reserves for doubtful accounts, accounts receivable aging and ...

Newfield accounting, water bills slammed
The Town of Newfield's accounting records were in shambles and residents' water bills were calculated inaccurately, according to a recent audit by the New York State Comptroller's Office. The audit report paints a grim picture of the town's practices ...

Lease Accounting Proposal Still Seen Costing Companies, Investors
The CFO Report provides original real-time reporting, analysis and commentary on news and trends of critical importance to chief financial officers and other senior corporate finance executives: accounting, tax, regulation, capital markets, banking, ...

Op/ed: KPMG scandal damages reputation of the accounting profession
What possesses an audit partner to trade on inside information and violate the accounting profession's most sacred ethical standard of audit independence? Is it carelessness, greed or ethical blindness? In the case of Scott London, the former partner ...

Auditor reports to Town Council; accounting deficiencies to be fixed
Marcia Marien, a certified public accountant and partner at O'Connor Davies, the town's auditing firm, explained to the Town Council Tuesday night some of the deficiencies in the town's and school district's accounting procedures that surfaced during ...

Online Accounting Tool From University of Florida Makes Research and ...
Online Accounting Tool From University of Florida Makes Research and ...

Health Management Reveals SEC Accounting Probe
Law360, New York (May 03, 2013, 4:28 PM ET) -- Health Management Associates Inc. has been targeted in a U.S. Securities and Exchange Commission probe into its accounting practices and revenues, among several other regulatory investigations over the ...

HP Ignored Autonomy Accounting Warnings, Shareholders Allege
Hewlett-Packard Co. (HPQ) ignored warnings about accounting irregularities at Autonomy Corp. and failed to properly vet its finances before acquiring the British software maker, shareholders said in a lawsuit. Hewlett-Packard board members performed ...

Accounting Institute At USD Showcases Career Opportunities
VERMILLION — High school sophomores and juniors interested in accounting as a career or a business major can register now for the University of South Dakota 2013 Summer Accounting Institute. Students from the region are encouraged to attend the ...

Champions crowned in MCC Accounting Bowl
Crystal Lake South Accounting Bowl team won first place in the Accounting 1 category at McHenry County College's 2013 High School Accounting Bowl. Pictured are (from left): Sam Davalos, Eli Bennett, Dana Rusher, Angelo Passias, Donna Rastenis, ...

Through the Looking Glass into Public Pension Accounting
The Economist has an interesting piece in Buttonwood this week about how U.S. public pensions do their accounting. Basically, they discount their liabilities using the expected return on their assets. It results in some curious outcomes. For example ...

This accounting trick by Fannie Mae and Freddie Mac will mean $60 billion for ...
This accounting trick by Fannie Mae and Freddie Mac will mean $60 billion for ...

This accounting tweak by Fannie Mae and Freddie Mac will mean $60 billion for ...
This accounting tweak by Fannie Mae and Freddie Mac will mean $60 billion for ...

More women needed on boards in the accounting profession
In the accounting profession, I think the statistics will show that most of our members are actually women. And many of those women occupy senior positions throughout the corporate world. However, the representation of women on boards generally is ...

James Metzler of the AICPA to Present at TIAG International Accounting ...
James Metzler of the AICPA to Present at TIAG International Accounting ...

Accounting: Alec Yale
A 2009 graduate of Kingwood High School, Wake Forest senior Alec Yale has not only gotten through the school of business as an accounting major, but has been highly successful in his area of expertise — even though, as a soon-to-be graduate of Wake ...

Ballston's accounting records inadequate
Ballston's accounting reports and records were not properly maintained for its water fund financial operations, according to a new audit from New York State Comptroller Thomas DiNapoli's office. The audit says that own officials allegedly did not ...

Saudia becomes first airline to deploy new Amadeus Passenger Revenue ...
Saudia becomes first airline to deploy new Amadeus Passenger Revenue ...

PrideStaff Expands in West Palm Beach With New Accounting and Financial ...
PrideStaff Expands in West Palm Beach With New Accounting and Financial ...

Survey Identifies Non-Accounting Skills Most Sought in Accountants
MENLO PARK, Calif., May 6, 2013 /PRNewswire via COMTEX/ -- Today's job market is more than a numbers game for accounting and finance professionals, a new Accountemps survey finds. When considering job candidates' qualifications beyond traditional ...

Seminar for accountants: Divorce by the numbers
Certified public accountants and other accounting professionals can attend a free continuing education seminar to learn about legal issues that may affect their clients financially during the divorce process. Local law firm Brinkley Morgan will cover a ...

Business accounting class offered in Bradenton
The two-week class will run nightly from 6 p.m. to 9 p.m. beginning May 14. The class, taught by Ed Wilkins, will discuss basic accounting and financial statements. Cost for the class is $60.00. Classes will be held through May 28 at the Holiday Inn ...

Making Changes to Pay Plans? Don't Forget the Accounting
As public companies gravitate toward performance-based executive compensation plans, for example, they face more mark-to-market accounting. Now some accounting experts are advising companies to make it easier for themselves on the accounting side ...

Opinion: KPMG Insider Trading Scandal Damages the Reputation of the ...
Opinion: KPMG Insider Trading Scandal Damages the Reputation of the ...

Adorable Alert: Watch This Duckling Fall Asleep In Owner's Accounting Class
YouTube user ChloeBroomfield1995 took the adorable little duckling named Dexter to her accounting class, and despite his best efforts, he could not stay awake. So, she took out her camera and recorded the little guy continually dozing off and coming to ...

Summer Accounting Institute at USD showcases career opportunities
VERMILLION – High school sophomores and juniors interested in accounting as a career or a business major can register now for the University of South Dakota 2013 Summer Accounting Institute. Students from the region are encouraged to attend the ...