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Accounting News 10/2013



Kabbage and Xero Partner to Deliver Instant Financing Using Accounting Data
Kabbage, Inc., the leading online provider of working capital for small businesses and Xero, a leader in online accounting software, announced today that Kabbage can now instantly approve and extend funding to Xero's customers based exclusively on ...

New accounting rules make axing reactors cheaper
The government revised accounting rules Tuesday for utilities to prevent their business from deteriorating abruptly if they decommission nuclear reactors earlier than planned. Power firms are required to set aside reserves for scrapping each of their ...

Accounting Managers Cautiously Planning to Hire More in Q4
Managers in accounting, finance, and IT are cautiously optimistic about their hiring plans for the fourth quarter of 2013, according to a new hiring outlook survey from staffing firm Brilliant. This quarter's hiring forecast revealed a continued rise ...

Three Tips for Better Meetings with Your Accounting Firm's Clients
Client meetings are an integral part of being a great accountant. The most important of these meetings is when you're tasked with presenting the client your financial analysis. Making the most of this meeting can do wonders for establishing client ...

Clarksburg looks to report in pursuit of better record keeping
CLARKSBURG -- The town is seeking assistance from an accounting firm's report in addressing its record-keeping issues. "Hopefully with the information that we have now, we can move forward and get things squared away," Town Administrator Tom Webb ...

Jennifer Joe, Whitney Family Endowed Chair in Accounting, to deliver lecture
2:02 p.m., Oct. 1, 2013--Jennifer R. Joe, the first Whitney Family Endowed Chair in Accounting and professor in the Alfred Lerner College of Business and Economics, will deliver the inaugural Whitney Family Chair Lecture, Monday, Oct. 21, from 3:30-4 ...

Smith & Howard Among Top 100 Best Accounting Firms to Work for in the U.S.
Continuing its recent trend of national recognition for operational and workplace excellence, Smith & Howard was recently named as one of the nation's 2013 Best Accounting Firms to Work for. The annual list of the nation's 100 Best Accounting Firms to ...

Local accounting professional honored at association's annual awards dinner
TROY – The Board of Directors of the Michigan Association of Certified Public Accountants (MACPA) and its President and CEO Peggy A. Dzierzawski, officially announced the recipients of its 2013 awards at the MACPA's annual Awards Dinner held on ...

Minneapolis accounting firm settles with Dixon, Ill., for $35 million
A long-running embezzlement scheme by the former city comptroller in Dixon, Ill., uncovered last year, will end up costing Minneapolis-based accounting firm CliftonLarsonAllen $35.15 million. The payment from one of the nation's leading accounting ...

Minneapolis accounting firm CliftonLarsonAllen will pay Illinois city $35M
The Minneapolis accounting firm CliftonLarsonAllen will pay Dixon, Ill., $35 million for failing to detect an embezzlement scheme by the city's former comptroller that lasted two decades and involved $53 million. According to court documents and the ...

SCORE: Accounting and bookkeeping for the business
The heart of financial management for a business is how it does the accounting or bookkeeping. It is common for a small business to struggle with this aspect of the business. Yet, the results of this function (the financial statements) of the business ...

IMA Launches Campaign to Address the Competency Crisis in Accounting
IMA (Institute of Management Accountants) has launched the Competency Crisis website, a portal designed to convene the accounting and finance constituency - professionals, students, employers and academics - around the issue of the talent gap in the ...

Tiger Team hearing: Accounting of disclosure testimonies
Monday's HIT Policy Committee Privacy & Security Tiger Team Virtual Hearing on Accounting for Disclosures included a number of different vantage points on the privacy and security aspects of accounting of disclosures. In calling patient privacy ...

Corporate Pay Overhaul Sought by UK Accounting Regulator
The U.K.'s accounting regulator said it may overhaul rules for corporate pay and introduce measures to make it easier to seize executive bonuses. The Financial Reporting Council may propose changes to the U.K. Corporate Governance Code that would also ...

State Rep. Earl Poleski's accounting skills recognized in Lansing - The Jackson Citizen Patriot
That was state Rep. Earl Poleski’s campaign slogan which seems to have paid off. Poleski, R-Spring Arbor Township, was recognized by the Michigan Association of Certified Public Accountants for his efforts to eliminate potential red tape and ...

Corporate Pay Overhaul Sought by UK Accounting Regulator (1)
The U.K.'s accounting regulator said it may overhaul rules for corporate pay and introduce measures to make it easier to seize executive bonuses. The Financial Reporting Council may propose changes to the U.K. Corporate Governance Code that would also ...

Maven's Morning Coffee: DWP accounting, LAPD's private donations, a Q&A ...
Maven's Morning Coffee: DWP accounting, LAPD's private donations, a Q&A ...

GoDaddy Buys Ronin, Makes Inroads Into Accounting Services For Small ...
GoDaddy Buys Ronin, Makes Inroads Into Accounting Services For Small ...

MSU accounting professor wins award for excellence in tax education
[email protected] An accounting professor in Montana State University's Jake Jabs College of Business and Entrepreneurship has won a prestigious national award for excellence in tax education. Anne Christensen was recently named the winner of ...

What online accounting can do that your desktop can't
My Business Online is an online accounting package that was rated, "Much easier to use than we thought it would be," by a class of inexperienced St. Stithian's schoolboys. Put these two facts together and you've got a fantastic software program called ...

Cohen inheritance trial turns to accounting witness's credibility
Lawyers on Wednesday used their cross-examination to attack the credibility of an expert witness who had testified that Robert Cohen, the late Hudson News patriarch, lost a good chunk of his business and his estate to his son through a series of unfair ...

Accounting of disclosures rule must balance 'wants' and 'needs'
It's heartening that the ONC Health IT Policy Committee's Tiger Team is reevaluating the controversial accounting of disclosures proposed rule, having held a virtual hearing Monday to look for "realistic" ways to provide patients with greater ...

Former headteacher sentenced for false accounting
A former headteacher who was knighted for his services to education has walked free from court after admitting false accounting. Sir Alan Davies, who was head of the Copland school in north London for 20 years until his suspension and retirement ...

CPAexcel Launches the Fall 2013 Accounting Scholarship Program for Students ...
CPAexcel Launches the Fall 2013 Accounting Scholarship Program for Students ...

Accountants group, feeling undergraduates are not being taught properly ...
Accountants group, feeling undergraduates are not being taught properly ...

The Evolving State of Accounting Firm Workflow
If you've been in practice for several years, the most significant changes to the profession, particularly for tax and accounting professionals in public practice, have come through technology, of course. While there have been a few major alterations ...

UK backs global accounting rules, wants 'prudence' back
LONDON (Reuters) - Britain still believes a specific reference to "prudence" would improve international accounting standards, but reasserted on Thursday the rules as they stand are legally binding, hoping to end any uncertainty over the matter. Rules ...

Audit requires city to change some accounting procedures
An annual state audit of the city's financial operations urges the city to resolve four accounting issues, three of which fall under the Canton Community Development Department. The audit is for 2012. There were no findings for recovery, which are ...

Clifton accounting firm Sax Macy Fromm joins with Albany CPA group
CLIFTON – A City accounting firm announced a merger with an Albany CPA group which, when the deal becomes official in 2014, will purportedly result in a new entity ranked among the country's top 100 in billings. Clifton's Sax Macy Fromm & Co., above ...

Tronconi partner picked by NY accounting panel
In his new role as board member, Ferm will advise the state Board of Regents as well as the state Education Department on licensing requirements, licensing examinations and practice issues pertaining to the accounting industry. He will also participate ...

EU states in breakthrough over accounting reform - sources
LONDON, Oct 4 (Reuters) - The European Union moved closer on Friday to forcing companies to change accountants and avoid close ties that could lower the quality of book-keeping, sources with knowledge of the matter said. After two years member states ...

An Accounting Lesson for Twitter
Whether he prevails at his insider-trading trial or winds up paying a fine to the Securities and Exchange Commission, Mark Cuban, owner of the Dallas Mavericks, performed a mitzvah during his testimony this week when he plainly described to the jury ...

Ag groups concerned over cash accounting change
A coalition of agricultural stakeholders met earlier this week to share information about continuing work in the House of Representatives toward a broad tax reform package. House Ways and Means Committee Chairman Dave Camp (R., Mich.) has said that ...

Local Bonita Springs Accounting Firm Recognized as 2013 Small Business of ...
Local Bonita Springs Accounting Firm Recognized as 2013 Small Business of ...

UH Exec Who Allegedly Lied About Accounting Credential Still on Job
A high-level University of Hawaii executive remains in her job — at the same pay — following the conclusion of a university investigation into whether she misrepresented herself as a certified public accountant. University officials refuse to say why ...

Big Four bulking up consulting muscle
After a recent decline in class-action lawsuits against accounting firms (and their insurers), Cornerstone Research in New York predicts a possible rebound as a result of whistle-blower suits and the Jobs Act exemption for emerging-growth companies to ...

On the Move: CPA Clary forms own Fort Collins accounting firm
Key2 Accounting is designed to support small business clients, providing services such as bookkeeping, sales tax preparation, software training, consulting, planning, and payroll processing through Payroll Vault, which is a franchise that Clary ...

Do it: Spencerport native free-falls from accounting career
Do it: Spencerport native free-falls from accounting career. Leo Roth, ROC 7:02 a.m. EDT October 6, 2013. airspeedteamphoto.jpg. Spencerport native Chris Farina, center, with his U.S. champion four-way formation Arizona Airspeed team. (Photo: PHOTO BY ...

Mohegan Lake Native Finds Success at Accounting Firm in Manhattan
Alexis Imprescia – a Mohegan Lake native and recent SUNY University at Albany graduate – has found success at Ernst & Young, an accounting firm in Manhattan. She credits the university as the springboard to her success. (Watch a video of Imprescia as ...

Sarepta Therapeutics CFO Replaces Chief Accounting Officer
Sandesh Mahatme has replaced Tony Martignetti as Sarepta Therapeutics' (NASDAQ: SRPT ) chief accounting officer, the biotech said in a late Friday 8-K filing with the SEC. He will also remain as Serapta's chief financial officer. Mahate joined Sarepta ...

Avalara Recognized by K2 Enterprises for Marketing Communications in Tax ...
Avalara Recognized by K2 Enterprises for Marketing Communications in Tax ...

Natural Capital: How Do You Go about Accounting for It?
There are many reasons why companies would want to account for their natural capital impacts. I'll come to those later, but first I want to answer the question of how do you actually go about it? There are two versions of this answer; a technical one ...

The SEC Brings Charges Against 'Gatekeeper' Accountants
In a "crackdown" on the "gatekeepers" who put investors at risk when they fail to uncover financial statement fraud and misstatements, the Securities and Exchange Commission this week highlighted the work of "Operation Broken Gate" when it announced ...

The Tech Take
Of note over the past seven days we've seen a new president come in at ERP vendor Epicor, a new cloud accounting vendor enter the U.S. market by way of Australia, and expectations for a new mobile accounting application designed to work on all mobile ...

5 ways cloud accounting increases financial efficiency and accuracy for the ...
5 ways cloud accounting increases financial efficiency and accuracy for the ...

Twitter TV Ratings: Nielsen Begins Accounting for Social Media Mentions in TV ...
Twitter TV Ratings: Nielsen Begins Accounting for Social Media Mentions in TV ...

simPRO takes 30pc stake in mid-market cloud accounting outfit Gem Software ...
simPRO takes 30pc stake in mid-market cloud accounting outfit Gem Software ...

Cantillon: Accounting to a different standard at Siptu
The union's accountants, O'Connor & Associates, of Harcourt Road, Dublin, in their report accompanying the 2012 accounts say the accounts do not give a true view, under current accounting standards, of the union's state of affairs as at the end of ...

Clark Simson Miller Launches New Website Generated to Announce the ...
Clark Simson Miller Launches New Website Generated to Announce the ...

Twitter's shady accounting
The difference has to with an unorthodox accounting term called "adjusted EBITDA." Companies have long tried to steer investors toward metrics that make their results as good as possible. EBITDA is the most popular one, which stands for earnings before ...