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Accounting News 09/2013



Should 'Accounting Magic' Kill the American-US Airways Deal? [AMR Corporation]
The recent U.S. Department of Justice challenge to the proposed merger of American Airlines (AAMRQ.PK) and US Airways (US Air, LCC) nudged this Grumpy Old Accountant to see what all the fuss was about. Critics of the deal argue that the combination ...

Numbers, accounting choose Debbie Smith
HCC. Debbie Smith, VP Administrative Services at Halifax Community College, has more than 17 years of accounting experience. HCC1. Jacqueline Hough | The Daily Herald. HCC1. Vice President of Administrative Services at Halifax Community College ...

Qantas takes a financial flight of fancy on accounting winds
There are many ways to skin a cat, but there are many more ways to present a profit result. Take Qantas, for instance, a company that has displayed admirable flair over the years in the presentation of its financial accounts. In declaring ''underlying ...

Are you ready for a new lease accounting standard?
IN THE FIRST part of this article, we looked at the changes that will arise due to the revised Exposure Draft (ED) on lease accounting released by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) ...

Accounting firm offers Day of Caring
Accounting firm offers Day of Caring. Updated 11:21 am, Sunday, September 1, 2013. Scott Crane and Ben Maini, Reynolds & Rowella, LLP partners, work on the grounds of Tarrywile Park, a 722-acre estate in Danbury, as part of Day of Caring. Photo: ...

Banking and accounting bonuses slip as gender gap grows even wider
Cash bonuses for banking and finance and accounting industry staff were down 6 per cent for the 2012-13 financial year but the gap between the average bonuses for men and women is turning into a chasm. According to a survey by Lloyd Morgan's My ...

Manchester housing agency suing accounting firm
MANCHESTER — The local branch of the state-run public housing authority has filed suit against its own accounting firm for an alleged breach of a contract that went into effect in 2006. The complaint, filed in Essex County Superior Court earlier this ...

Local accounting firms merge with Mazars
Speaking at the launch in Accra, partnership and international secretary of Mazars, Mr. Keith Savile, said as Ghana planned to make the most opportunity that the oil industry had brought, there was the need to deliver world class accounting services ...

Fair officials address accounting issues based on recommendations from state
Canfield Fair officials have addressed recommendations made by the state auditor's office to rectify past accounting issues, such as some found in fiscal years 2010 and 2011. “We're hoping to be the gold standard in the state of Ohio for agricultural ...

Basic accounting errors on carrier jets cost taxpayer £74m
The cost of reversing the decision was £74 million. Margaret Hodge, the chairman of the Public Accounts Committee, said: “The MoD has admitted that the 2010 decision was based on deeply flawed information. Officials also made incredibly basic errors ...

'Basic' accounting errors such as not allowing for VAT led to MoD officials ...
'Basic' accounting errors such as not allowing for VAT led to MoD officials ...

CLARIUS GROUP LIMITED : Cash bonuses and benefits still powerful lures in ...
CLARIUS GROUP LIMITED : Cash bonuses and benefits still powerful lures in ...

INSIDE Public Accounting's Fourth Annual Ranking of the Nation's Top 200 ...
INSIDE Public Accounting's Fourth Annual Ranking of the Nation's Top 200 ...

Accounting credits available via program
CEDAR FALLS, Iowa — The Institute of Management Accountants is offering 2 CPE hours through a program it is hosting at 4:30 p.m. Sept. 18 at the Clarion Inn. Dan Corbin of the Waterloo Bucks and Mike Falk of the Waterloo Black Hawks will speak on “The ...

How to Win Your Next New Accounting Client
Your firm may be successful today, but everyone knows that success can be fleeting unless you're continuously thinking ahead to identify and win the next client. The key to developing a strategy for winning new clients is to answer these key questions ...

'NFRA not to impact functions of accounting regulator ICAI'
Under the new companies law, the government would be setting up the National Financial Reporting Authority (NFRA) -- that would monitor and ensure compliance with various accounting and auditing standards, among others. "NFRA is now a ground ...

Sacred Heart to launch master's program in accounting
Sacred Heart University has announced plans for a new master's program in accounting, designed to meet the needs of students who are preparing for the CPA Exam. “Students need 150 credits to qualify for the CPA Exam, so we have had students ask for ...

Upper Gwynedd Fire Department implements...
Upper Gwynedd Fire Department implements...

Tanner Named A Top 50 CPA Firm By INSIDE Public Accounting
INSIDE Public Accounting's (IPA's) annual Best of the Best recognition honors 50 CPA firms across the country for their overall superior performance on more than 70 IPA criteria. Tanner's combination of planning, strategy, and execution distinguished ...

Virtual Career Fair Connects Accounting Students and Firms Across the Country
According to a recent report by the American Institute of CPAs, accounting graduates are in especially high demand. The report, released in July 2013, found that a record 40,350 accounting graduates were hired in 2012 and 89 percent of those firms are ...

Alderman Schuler resigns to take accounting job with city
AURORA — Alderman Abby Schuler, 1st Ward, announced she will resign from City Council at a meeting Tuesday night. Schuler will leave her Council post to join the city's Finance Department as a staff accountant beginning Sept. 16. Next week's City ...

Shyam Sunder Honored as Outstanding Accounting Educator
Prof. Shyam Sunder recently received the 2013 Outstanding Accounting Educator Award from the American Accounting Association, which was presented at the 2013 AAA annual meeting here recently. The award, established in 1972, recognizes sustained ...

A call for truth in government accounting
A new organization is seeking support for something we desperately need, but don't have: a realistic accounting for the unfunded commitments our government has made. You can learn about it at www.theinformact.org. The idea is to pass a bipartisan ...

Olympus to be prosecuted by UK fraud agency for falsifying Gyrus accounting
T) said on Wednesday that Britain's fraud regulatory agency will prosecute the Japanese endoscope and camera maker and its UK unit Gyrus for deceptive financial accounting, following a two-year investigation. Olympus said the UK's Serious Fraud Office ...

FASB Panel Says Ditch Lease Accounting Proposal
An investor advisory panel has told the Financial Accounting Standards Board they should ditch their overly complicated proposed standard on lease accounting and just require some new disclosures with current accounting instead. FASB's Investor ...

ORKLA ASA : Orkla to establish a shared accounting centre
We see that we can realise clear efficiency gains by establishing a shared accounting centre for the Group. This will also enable the companies' finance functions to focus more attention on supporting the commercial operations," says Orkla President ...

Opposition Mounts to Lease Accounting Changes
With the comment deadline approaching for the latest draft of the lease accounting proposals from the Financial Accounting Standards Board and the International Accounting Standards Board, more groups are weighing in with criticism. William Sutton ...

Accounting Firms Showing Signs of Economic Growth
Accounting firms are a good barometer for the US economy. You probably noticed during the last several years that revenues at some of the largest accounting firms declined. Your own revenues may have as well, especially in industries hit hardest by the ...

Accounting For Greatness
For most successful athletes, their parents and coaches have the greatest impact on their lives. For those serving in such mentoring roles, one of their primary goals and everlasting hopes is that those under their care develop a sense of ...

National accounting firm plants permanent Nashville flag, targets health care
After testing the market with an informal presence over the past two years, accounting and advisory giant Dixon Hughes Goodman LLP is planting a permanent flag in Nashville, setting its sights on the city's $70 billion health care industry. Dixon ...

Suicide rarer than cancer and heart disease deaths at state prisons ...
Suicide rarer than cancer and heart disease deaths at state prisons ...

Technology Innovators Partner to Create Integrated Accounting & Legal Practice ...
Technology Innovators Partner to Create Integrated Accounting & Legal Practice ...

Inside Public Accounting Names MGO One of The Best of the Best CPA Firms
SACRAMENTO, Calif., Sept. 5, 2013 /PRNewswire-iReach/ -- Macias, Gini & O' Connell (MGO) is proud to announce that it has been named to INSIDE Public Accounting's (IPA) Best of the Best Firms list for 2013. This honor is given to only 50 CPA firms ...

AICPA Releases Decision Tool on Accounting Frameworks
Released by the AICPA in June, the FRF for SMEs is a new accounting option for preparing streamlined, relevant financial statements for privately held, owner-managed businesses that are not required to use US GAAP. Available at no cost, the Decision ...

Allegheny County to develop better accounting of off-book funds
With an eye to recent scandal within the Pittsburgh Police Department, Allegheny County Controller Chelsa Wagner is launching a push to bring $21.1 million in far-flung county funds back into the fold. Recognizing the "opportunity for abuse," Ms ...

Upper Gwynedd Fire Department implements professional accounting procedures
The criminal investigation into Ken Nolan, the former treasurer of the Upper Gwynedd Township Fire Department, led to rules requiring its members to follow professional accounting standards, according to Eric Geiger, its new treasurer. He said those ...

Accounting for hedging to be added to financial guidelines
Recommendations on accounting for hedging transactions on agricultural financial statements will become part of the "Financial Guidelines for Agriculture" as nearly 70 pages will be added to the document when an updated version is released in January ...

McClatchy controller, chief accounting officer resigns
He was director of internal audit until 2008, when he became controller. He earned a bachelor of science in accounting at California State University Sacramento and a Master's of Business Administration from Drexel University, according to his LinkedIn ...

Upcoming Xero Launch Integrates Full Payroll with Accounting Apps
Xero, developer of online accounting software, announced plans to roll out an integrated payroll feature in the U.S. The announcement was made at the company's inaugural U.S. Xerocon in San Francisco. The new Xero payroll will seamlessly integrate with ...

Passionate about food, accounting
The work experience people get in their teen and college years often shapes their career for years to come. Cheryl Campbell, chief financial officer at Wildflower Bread Co., is a prime example. She grew up in Ohio and got a job at age 19 as a cashier ...

Timing of Profits Spurs Debate on Accounting in IRS Code: Taxes
Two approaches to corporate accounting are squaring off in Congress's plans to change the Internal Revenue Code, and the outcome may have a big impact on some types of businesses, Bloomberg BNA reported. Farms and professional services ...

PolicyPak Releases Pak for Sage 50 Accounting
PolicyPak Software, the leader in desktop and application management, recently rolled out a Pak for Sage 50 Accounting software. The pre-configured Pak for Sage 50 allows IT admins to fully set and enforce expectations for users' applications. For ...

Apollo Global Names New Accounting Chief, Controller
Apollo Global Management has named Christopher Weidler as chief accounting officer and controller, the company announced in a Sept. 4. Form 8-K filing. He succeeds Barry Giarraputo in the role, effective immediately. Weidler joined the company from ...

Porterville accounting firm marks 80th year
11. Begun by Mark Dewitt, the firm has had six partners over the years. Today, Richard and Lynda Scearcy are the sole partners of the company, Porterville's largest accounting firm. Lynda Scearcy said it is trust and familiarity that has made the firm ...

40 Trailblazers Who are Changing the Accounting Profession
This year's 40 Under 40 honorees are exactly what leaders of a Next Generation Firm look like. They're trendy, innovative, creative and flexible. They know that the value of their work is not defined by four walls and computer desks. Armed with their ...

The Tech Take
I am choosing this week to focus on yet another warrior in the growing cloud accounting battle that you may or may not have heard of, but after attending its first U.S. partner conference I have a better sense of who Xero is and what challenges they ...

Accounting firm RS&F acquires DC company
RS&F, an Owings Mills accounting and business consulting firm, has expanded its geographic and industry reach by acquiring the assets of a D.C.-area company specializing in print and media businesses. RS&F said the purchase of Lanham-based Becker ...

UT Accounting Ranked No.1 for Ninth Time in Twelve Years
The Accounting Department of the McCombs School of Business added up a perfect score last month as it swept the rankings of the Public Accounting Report Annual Professors Survey in August in the undergraduate, mater's and doctoral categories, making ...

Knight Joins Regional Accounting Firm Carr, Riggs & Ingram (CRI)
Carr, Riggs & Ingram, LLC (CRI), ranked as the 28th largest accounting firm nationally and 3rd largest in the South, welcomes Larry C. Knight, Jr., to the team. Knight will serve CRI as a Director of Insurance Regulatory Services. With a successful ...

Accounting vs real solutions
“By waging an accounting war over the deficit, we have left the target of growth to fall by the wayside,” SEV said. SEV poses the big question, which the political and the banking system – both in tatters – are reluctant to answer: What is Greece's ...