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Accounting News 07/2013



Study Money Abroad: Learn Your Foreign Financial Activity Reporting ...
Study Money Abroad: Learn Your Foreign Financial Activity Reporting ...

Financial Accounting Foundation Launches New Website
The Financial Accounting Foundation (FAF) today launched an updated website that features more user-friendly navigation and new "plain English" educational resources that provide extensive background on financial accounting and reporting ...

Cendrowski Corporate Advisors Welcomes Dr. Barry Jay Epstein; Chicago ...
Cendrowski Corporate Advisors Welcomes Dr. Barry Jay Epstein; Chicago ...

The Truth of July 4
This week, as we celebrate our July 4th holiday, we also celebrate the mission of Truth in Accounting. Truth in government accounting is more important than ever for securing a Rule of Law, a government by and for 'We the People', amidst heightened ...

KPMG LLP Names Tracy Benard Accounting Advisory Services Leader
NEW YORK, July 1, 2013 -- /PRNewswire/ -- Tracy S. Benard, a New York-based partner in the Transactions & Restructuring Advisory service group for KPMG LLP, the audit, tax and advisory firm, has been named leader of the firm's Accounting Advisory ...

Accounting services to remain in place in Wenham
Two new bank accounts for payroll and accounts receivable to allow dissolution of old reconciling notes dating from 2005 will be opened, Genereux explained, adding that the old accounts "run down." Selectman Patrick Wilson reminded the board that the ...

Sioux City accountant gets probation for taking $150000 from client accounts
SIOUX CITY | The owner of a Sioux City accounting firm was placed on probation Monday for taking more than $150,000 from a client who had dementia. Terry Lockie, 65, pleaded guilty in Woodbury County District Court to one count of dependent adult ...

Accounting system a focus of Monday's Council budget talks
Councilman Bob Gonzales said one good use of onetime revenues - such as the sale of the former wastewater treatment plant still being negotiated - would be an accounting system, a favored subject of Councilman Jim Tovias who was absent from the ...

FASB Issues Proposals for Private Company Accounting
The Financial Accounting Standards Board has issued for public comment three proposals to address the concerns of private companies about accounting for intangible assets acquired in business combinations, goodwill, and certain types of interest rate ...

Accounting giant BKD opens Nashville office
BKD was the 10th largest U.S. accounting firm by revenue in 2012, according to Inside Public Accounting. It's aiming to reach Middle Tennessee clients in a range of industries including health care, manufacturing, education, financial services and ...

Accounting woes hurt Medicare's tries to get lost money
The new accounting system for the Center for Medicare Services (CMS) and systems used by Medicare contractors did not extract data automatically, the report said, so information about providers and contractors was lost. Medicare officials, the report ...

Accounting Policy and Procedure Manuals Address Financial Controls
Bizmanualz, Inc., a business process management and lean ISO consulting company, announces the CFO Accounting Policies And Procedures Manuals that provide accounting departments with example internal controls for faster conformance with industry ...

Proposed New Accounting Reporting Standards Will Impact On Telecoms Sector
Imminent changes to revenue recognition standards will have far-reaching cost implications for the telecommunications sector, among others. Some impacts will involve greater expenditure in recording revenues, the need to upgrade accounting and ...

BKR International Increases Scholarship Award to Accounting Students
In announcing the awards, Angelo Colombo, chairman of the 150-firm strong BKR International, says, "Quality people are the pivotal element in growing a successful accounting practice. BKR and its member firms recognize how crucial it is to help young ...

Intuit Realigns Accounting Professionals Division
Intuit said Monday that the realignment of its Accounting Professionals Division builds upon organizational changes originally announced in May to capitalize on global opportunities and sharpen its focus on its core businesses (see Intuit Undergoes ...

Changes To This Accounting Rule Would Have Massive Repercussions
Nerd alert: this article dives deep into the nature of accounting practices and how a change in rules could drastically affect the capital structures, financing abilities, and value of hundreds of companies and more importantly, could drastically ...

Linn Energy: SEC Looking At Reported Sketchy Derivatives Accounting To Hide ...
Linn Energy: SEC Looking At Reported Sketchy Derivatives Accounting To Hide ...

SEC Creates Task Forces to Detect Accounting and Microcap Fraud
The U.S. Securities and Exchange Commission has formed two enforcement task forces aimed at rooting out improper accounting and fraud at small companies, the agency said. The SEC's enforcement division also created a Center for Risk and Quantitative ...

SEC Creates Task Forces to Detect Accounting and Microcap Fraud
The U.S. Securities and Exchange Commission has formed two enforcement task forces aimed at rooting out improper accounting and fraud at small companies, the agency said. The SEC's enforcement division also created a Center for Risk and Quantitative ...

Contracts and Accounting Assistant
You will also be responsible for tracking and processing incoming payments, working in conjunction with the Accounting Department. In addition, as part of your dual Contracts and Accounting role, you will prepare basic client tax forms, liaising with ...

Snapshots of the SHUSD: Senior Accounting Technician Verna Boswell
Verna Boswell, senior accounting technician at St. Helena Unified School District, is responsible for multiple elements of the complete accounting system at the district, which includes accounts receivable and accounts payable, cash, fund accounts and ...

Joint Roundtable Meetings Set on Lease Accounting Proposal
The roundtable meetings are an important part of both boards' due process on the revised exposure drafts, according to the FASB. The meetings will provide an opportunity for those who have submitted a comment letter or who still intend to submit a ...

Irvine-based Accounting Firm Joins Marcum
Irvine-based accounting firm WilsonMorgan LLP has merged into the Orange County office of New York-based Marcum LLP. Marcum has 56 employees in its Irvine office, including 14 partners. Five WilsonMorgan partners and a staff of 30 are expected to join ...

UPDATE 1-US SEC sets new efforts on accounting fraud, microcap trading
WASHINGTON, July 2 (Reuters) - U.S. securities regulators on Tuesday laid out new enforcement initiatives to improve detection and investigation of accounting fraud and fraudulent behavior involving microcap stock trading. George Canellos and Andrew ...

Owner seeks tenant to replace departing accounting firm
The owner of the historic office building at 705 Olive Street is looking for a tenant to replace the accounting firm that is relocating four blocks across downtown. Anders CPAs and Advisors said last week it will leave 705 Olive and set up a new ...

Landlord seeks tenant to replace departing accounting firm
The owner of the historic office building at 705 Olive Street is looking for a tenant to replace the accounting firm that is relocating four blocks across downtown. Anders CPAs and Advisors said last week it will leave 705 Olive and set up a new ...

Audit reveals no accounting for $200 million in East Point
East Point Mayor Earnestine Pittman believes there has been criminal activity by those who work for the city as an audit reveals no accounting for $200 million the city spent over twelve years. "We were cheated," says Pittman. "We were stolen from. I ...

Former Olympus chairman gets suspended sentence for role in . . .
Three former Olympus officials, including disgraced ex-chairman Tsuyoshi Kikukawa, all received suspended prison sentences today for their role in an accounting fraud that threw the company into turmoil. Bloomberg reports that Kikukawa and auditing ...

PhillyDeals: Phila.'s ParenteBeard loses partners to rival accounting firm
One of the biggest professional firms based in Philadelphia - the accounting firm ParenteBeard L.L.C., an upstate success story that chose the city as its headquarters during its rapid growth of the mid-2000s - is losing a major practice group to a ...

No jail time for Olympus bosses who committed $1.7 billion accounting fraud
You might think a harmless white collar crime would escape the wheels of justice. After all, what's a little $1.7 billion accounting scandal in the grand scheme of things? As it turns out, you wouldn't be far wrong: none of the three senior figures ...

Debate over controversial lease accounting changes has ripple effect
The new proposed accounting standard related to accounting for leases has been the subject of controversy and criticism from landlords, tenants, other lessors and lessees of all types since originally proposed in 2010. Most businesses enter into lease ...

Scott Edgerton, 63, shot wife Sharon Bellingham, 56, dead on April 3
A man who walked into his wife's Boca Raton accounting office in a "trance" and shot her dead before killing himself had learned that she was having an affair with a co-worker, according to a Boca Raton police report of the incident. Scott Edgerton, 63 ...

Vicksburg District's Chief of Finance and Accounting Retires after 43 Years of ...
Vicksburg District's Chief of Finance and Accounting Retires after 43 Years of ...

Accounting Majors Seeing Strong Job Growth
If you're graduating college and want a job, accounting is the major to have, according to the 2013 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report released today by the American Institute of CPAs. As ...

Late disclosure triggers accounting order
As a consequence, Defendant was ordered to submit an accounting for post-trial sales. Case Summary. A jury found Defendant infringed Plaintiff's patents, awarding $93.4 million in lost profits and a $12.5 million reasonable royalty. Id. at *2 ...

EasyAs Accounting Releases Upgraded Version of Small Business Accounting ...
EasyAs Accounting Releases Upgraded Version of Small Business Accounting ...

Tesla Motors Inc (TSLA) Valuation: Its All About the Accounting
Tesla Motors Inc (NASDAQ:TSLA) Trades at 115x forward earnings according to many financial models. However, if one takes into account Lease accounting which will be used by the company in 2Q earnings the numbers come down quite a bit. Jefferies did ...

Accounting firms to vie for gongs
Northern Ireland accountancy firms are being reminded by the Association of Chartered, Certified Accountants to apply for the British Accountancy Awards 2013 by July 19. Categories cover all sizes of firms and the individuals and teams within them ...

Accounting firm: City gets clean audit for 2012
The City of Trinidad received a clean bill of health on its 2012 financial audit. Mike Dixon of the accounting firm Dixon, Waller & Co., the city's auditor, highlighted his firm's annual city audit report at Tuesday's city council meeting. Dixon said ...

Forget the Shy Bean Counters – Corporate Accounting Departments Want You
A quiet evolution has been taking place in corporate finance departments following the economic collapse. Faced with tighter budgets and a growing need to innovate faster, mid-size and Fortune 500 companies are asking more from their accountants, ...

Wadsworth OH, Accounting Service, Varney, Fink & Associates, Provides Small ...
Wadsworth OH, Accounting Service, Varney, Fink & Associates, Provides Small ...

Bill to Establish Gambia Institute of Chartered Accountants Approved
A Financing Reporting Bill 2013 entitled "An Act to establish the Gambia Institute of Chartered Accountants' was on Tuesday also unanimously approved by members of the country's second arm of the government, the Legislature. Tabled before deputies by ...

Oregon's New Tuition Plan: “Pay It Forward” or Just an Accounting Gimmick?
Several publications suggested that this will make public college “free.” The Washington Post wrote about the plan under the headline “Oregon Plan Would Eliminate Tuition at Public Universities.” The Huffington Post went with “'Pay It Forward' Plan In ...

Mid-Year Planning: Accounting for New Tax Rules
Mid-Year Planning: Accounting for New Tax Rules. Published Saturday, July 6, 2013 12:04 am. Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2013 for use by Evan R. Guido. The American Taxpayer Relief Act of 2012 (ATRA), ...

Association of Public Health Laboratories
The Senior Specialist, Accounting is responsible for managing the payroll, accounts payable and accounts receivable functions for the Association. RESPONSIBILITIES. Accounts Payable. 1. Supervise the Associate Specialist, Accounts Payable, ensuring ...

Asia Hawk Launches IRAS-Approved Accounting Software for SMEs
Asia Hawk Pte Ltd, the IT software solution provider that brings affordable technology to small and medium sized enterprises (SME), enables entrepreneurs to optimise their accounting systems for easy and quick access to critical business information ...

Xerox named Finance and Accounting Leader in 2013 Magic Quadrant Report
Xerox manages the core end-to-end process areas of finance, accounting and procurement for more than 250 clients. With more than 7,000 finance and accounting professionals around the world, each year Xerox performs 180,000 account reconciliations ...

AP IMPACT: Internal report calls MIA accounting work 'acutely dysfunctional ...
AP IMPACT: Internal report calls MIA accounting work 'acutely dysfunctional ...

Internal report calls MIA accounting work 'acutely dysfunctional,' could fail
The report paints a picture of a Joint POW/MIA Accounting Command, a military-run group known as JPAC and headed by a two-star general, as woefully inept and even corrupt. The command is digging up too few clues on former battlefields, relying on ...

Govt Billions Vanish On Personal Accounts
At least Shs 25bn of the Shs 67bn deposited on personal accounts of government officials has vanished without a trace, a new Auditor General's report has found. In the latest findings, the AG, John Muwanga, says many accounting officers deposited ...