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Accounting News 03/2014



Key House Republicans Almost Get Accounting Control Fraud
I was pleased to learn that the Committee's home page emphasizes the key role that accounting control fraud played at Fannie and Freddie. The home page has a "spotlight" section designed to draw the reader's eye to a short series of documents designed ...

Carlsbad's Former Treasure Is Prohibited From Practicing Public Accounting
The Superior Court of the County of San Diego, North County Division, has granted the California Board of Accountancy's request to restrict a Carlsbad CPA from practicing public accounting pending the outcome of the criminal case against him. 53-year ...

Critics say Jindal's budget strategies amount to 'accounting gimmicks'
Buried deep within Gov. Bobby Jindal's official website is a news release that's made more rounds of the Louisiana House chamber than a misdirected love note around a schoolroom. The news release dates back to 2008, when Jindal was a newly sworn-in ...

Three join South Sioux accounting office
SOUTH SIOUX CITY | Nichols, Rise & Co. L.L.P. announces the addition of three accountants to its South Sioux City office - Corey Moss, CPA, Danielle Brown, CPA and Kendra O'Dell. Moss, a Siouxland native, graduated East High School in 2006 and Dordt ...

Lessons in accounting for apartment dwellers
People residing in apartments and gated communities were given important pointers on good accounting practices to manage their residents' welfare associations and minimise expenditure, at an event organised on Saturday. During the interactive session, ...

LIST PLUS: Largest Mass. accounting firms and their top executives
It could be said that no sector has benefited more than the accounting business when it comes to the economic uncertainty and steady stream of rule changes and regulations that have flowed from Washington, D.C., and state capitals since the downturn ...

Richmond makes $92 million accounting correction related to CenterStage ...
Richmond makes $92 million accounting correction related to CenterStage ...

Rotich Appoints Accounting Standards Board
TREASURY Secretary Henry Rotich has installed the ninemember Public Sector Accounting Standards Board to develop uniform accounting frameworks for the national and the 47 county governments. This comes in the wake of a disputed damning auditor ...

Making News: New Easthampton accounting firm, hires, board members and ...
Making News: New Easthampton accounting firm, hires, board members and ...

SolarCity to Restate Results to 2012 on Accounting Error
(SCTY), the most valuable U.S. solar company, delayed the release of its earnings for last quarter and will restate its 2012 and 2013 financial results after finding an accounting error related to the way it calculates overhead expenses. Correcting the ...

SolarCity to Amend Fiscal 2012 and 2013 Earnings to Correct Accounting Error
In a note to investors this morning, SolarCity (NASDAQ: SCTY ) said it would be reallocating some overhead expenses and that while the change will affect its 2013 and 2012 GAAP financial statements, it won't have any impact on future financials ...

IRS Modifies Procedures for Accounting Changes for Tangible Property
The Internal Revenue Service has released new procedures when changing the method of accounting for dispositions of tangible depreciable property. Revenue Procedure 2014-17 supersedes Rev. Proc. 2012-20 and provides the procedures by which a ...

North Carolina Accounting Firm Takes Action To Support Education
LB&A is an accounting firm on a mission. Its team of CPAs continues to expand upon its reputation as hometown heroes after helping charter schools across North Carolina achieve sustainable financial success. From early on, LB&A forged a strong ...

BluePearl Veterinary Partners answers general questions of accounting
Without The Arrow Fund's permission, I do not believe I can ask about information pertaining to Lad's case or the accounts under The Arrow Fund. The media relations manager for Kentucky, James P. Judge, responded to all my questions and his answer ...

SolarCity's Accounting Delay Continues: What You Need to Know
Once again, SolarCity (NASDAQ: SCTY ) is delaying reporting full fourth-quarter results, a week after an initial delay. Last week, management said accounting related to acquisitions and overhead allocation would delay complete GAAP financial results ...

Peru tasks attorney with getting Recreation Committee's accounting
The announcement followed an executive session of the board with their attorney. The board has been working for months to get an accounting of the money the committee raised on its own. There is a question about whether the town has authority over ...

The Sherlock Holmes of Accounting: Howard Schilit Explains the Mystery of His Art
Because of his track record in detecting the manipulation of financial results, Howard Schilit has been called the Sherlock Holmes of accounting. Whereas most forensic accountants come in after the fact for the investigation and litigation, Schilit is ...

Orlando Accounting Firm Offers Fully Outsourced Accounting Services for Small ...
Orlando Accounting Firm Offers Fully Outsourced Accounting Services for Small ...

New accounting system to cut wastage
The accrual accounting system, to be introduced Jan 1 next year, will be more transparent and reduce wastage, says PAC chairman Nur Jazlan Mohamed. nur jazlan KUALA LUMPUR: The federal government will implement the accrual accounting system, ...

SolarCity gains despite accounting error
SAN FRANCISCO (MarketWatch) — Shares of SolarCity Corp. rose nearly 3% on Tuesday, a day after the company said it found an accounting error and will restate its 2012 and 2013 financial results within two weeks. The release of most of SolarCity's ...

Accounting Issue 2014
As investment sales figures creep ever higher, from hundreds of millions of dollars into the billions, real estate investors are increasingly searching for access to additional capital. One of the most trusted ways of increasing buying power is through ...

Should Accounting Firms Sell Health Insurance?
When it first became clear that tax preparers – including CPAs – would have to be the front line in implementation of the Affordable Care Act, I voiced a lot of concerns. I doubted it would be possible for accounting professionals to serve as both ...

Inside City Hall: Another accounting “black hole” revealed in unpublicized study
The report says that without a thorough financial accounting, the city cannot determine how much of the longstanding deficit results from “a timing lag with revenue receipts” and how much is “overspending of grant dollars and/or accounting ...

Accounting ranks as highly searched flexible job
Accounting ranked as one of the most in-demand flexible jobs, according to FlexJobs, an online service for professionals seeking telecommuting, flexible schedule, part-time and freelance jobs. The top 10 jobs were found and ranked by analyzing keyword ...

Port Honored For Accounting, Financial Reporting
BREVARD COUNTY • PORT CANAVERAL, FLORIDA – For the 22nd consecutive year, the Canaveral Port Authority has been recognized with the Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report ...

State loan to help accounting firm relocate
The state will loan $1.2 million to Cohn Reznick, a New York-based accounting and consulting firm, with the expectation that it will create or retain 236 jobs over the next four years in Connecticut as part of its plan to move two offices to Hartford ...

Part 2: City agencies follow their own path in accounting for grants
Part of the reason has to do with the city's on-line accounting system known as CityDynamics. The system captures agency expenditures, but does not record grant awards. As a result, most agencies use CityDynamics to record for expenditures, but then ...

Houston-based accounting firms: Small fish in their own pond
Houston-based accounting firms are 77 percent smaller than their national counterparts. The locally based firms on the List averaged approximately 36 local CPAs per firm, whereas non-Houston-based firms on the List had an average of 157 CPAs in ...

State improves accounting
State government is keeping better track of billions in tax dollars it oversees, according to new audit. The annual review by Ohio Auditor Dave Yost questioned $859,326 in spending last year, mostly because of inadequate documentation. That compares to ...

Anchin, Block & Anchin Recognized as Best North American Accounting Firm for ...
Anchin, Block & Anchin Recognized as Best North American Accounting Firm for ...

Swapping Standards
Accounting for interest rate swaps by private companies is simplifying, but those real estate companies set to adopt new standards are being warned by some accountants: Buyer, beware. Private real estate companies in acquisition mode have often ...

UAB online accounting programs ranked nationally
The online programs feature the same award-winning faculty that teaches on-campus classes. In addition, UAB's online bachelor's accounting program allows students to roll credits directly to the master's in accounting program, fast-tracking their time ...

American Bancshares Mortgage LLC Leverages Advantage Systems ...
American Bancshares Mortgage LLC Leverages Advantage Systems ...

Finance board wants better accounting from GEMS
"Things like having them split out the different staff positions into part- and full-time, looking at year-to-year budgets on a number of accounting lines, salaries, overtime and equipment. "Given we're giving them $4 million, we want to look at GEMS ...

Accounting issues to weigh on Rolls-Royce shares, says Citi
Aerospace and engine maker Rolls-Royce was trading in the red on Thursday as sentiment was dampened by cautious comments from Citigroup, which highlighted concerns about accounting issues at the company. The bank kept its 'neutral' rating and a ...

Deloitte Announced as Lead Sponsor for 10th Life Sciences Accounting ...
Deloitte Announced as Lead Sponsor for 10th Life Sciences Accounting ...

Criminal Charges Follow 'Blatant Accounting Fraud' at Storied Law Firm
Four former leaders of the now-bankrupt law firm Dewey & LeBoeuf were charged Thursday in New York with what prosecutors called “blatant accounting fraud” and other questionable conduct. The indictment of former chairman Steven Davis, former ...

Revolutionary New KashFlow Products Simplify Online Accounting and Payroll ...
Revolutionary New KashFlow Products Simplify Online Accounting and Payroll ...

Popular Accounting Internship Program Passes Milestone
BLOOMINGTON, Ill.— In a world of balance sheets and income statements, the accounting program at Illinois Wesleyan University has added 16 more students to the “plus” column. With the addition of the students currently working at Big Four firms and ...

Accounting themselves well
Accounting, tax and business consulting firm BlumShapiro, with a 70-person Shelton office, has opened registration for the BlumShapiro 5K for Camp Courant at the Travelers Championship. Hartford's Camp Courant — billed as the largest free day camp in ...

Big Battle in the Cloud Accounting Market? No, It's Still a New Frontier
There has been a lot of activity in the online accounting market over the past few years and, according to some vendors, there is a big battle being waged for the minds (and wallets) of small businesses. While there is certainly a battle, how big is it ...

Appraiser Gary Crabtree
From a bottom-line perspective, Bakersfield home prices weakened last month. But a closer examination reveals a more positive picture. Prices of existing homes in the city rose slightly on a per-square-foot basis last month as total sales fell 10 ...

Dewey Charges Are Wake-Up Call For BigLaw Accounting
Law360, New York (March 06, 2014, 8:44 PM ET) -- Criminal allegations unveiled Thursday that Dewey & LeBoeuf LLP executives had systematically cooked their books over several years to hide a dire financial position will likely send some BigLaw leaders ...

RSA names new head of Irish unit after accounting scandal
Ken Norgrove will replace Philip Smith, who resigned as chief executive of the Irish business in November, saying he had become the "fall-guy" in the investigation into allegations of accounting problems. Norgrove, who most recently ran Zurich General ...

Kahuna Accounting Achieves Gold Partner Status with Xero
Illinois-based business development company Kahuna Business Group (Kahuna Group) with newly launched Kahuna Accounting, is proud to be recognized as a Gold Partner with Xero, the global leader in online accounting software. Founded in 1995 ...

UO tax accounting program ranked No. 2 worldwide
The accounting faculty at the University of Oregon's Lundquist College of Business were ranked second worldwide in publishing academic tax research over the past six years, according to ratings compiled at Brigham Young University. The BYU rankings are ...

The SMB Cloud Accounting Market is Still a New Frontier
There has been a lot of activity in the online accounting market over the past few years and, according to some vendors, there is a big battle being waged for the minds (and wallets) of small businesses. While there is certainly a battle, how big is it ...

ANR: Flimsy Corporate Investigations; BigLaw Accounting; Do You Attack Email ...
ANR: Flimsy Corporate Investigations; BigLaw Accounting; Do You Attack Email ...

Top-line budget numbers but no real details in Obamacare accounting
Jerry Moran, ranking member on the appropriations subcommittee responsible for HHS, said he was disappointed in the “budgetary smoke and mirrors” of the new accounting. “In their half-hearted attempt to respond to Senate language requesting detailed ...

Unprecedented Demand for Accounting Grads
At the same time, the pipeline of accounting students is bulging, suggesting to some that the continuing high demand for new recruits can be met by newly minted graduates for the next few years. This will come as good news to firms facing growing ...