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Accounting News 05/2014



Water utility admits $9M accounting error
The chief financial officer for Albuquerque's water utility acknowledged this week that the agency's 2013 and 2014 budgets included a $9 million accounting error. In response to questions from Elaine Hebard, an Albuquerque resident who first pointed ...

Twitter's shady accounting gets shadier
A year ago, though, the spread between what Twitter lost under the official accounting rules -- $27 million -- and adjusted Ebitda, was just under $40 million. In this year's first quarter, the gap between its reported results and its adjusted number ...

SEC Frets It's Not Getting Enough Accounting Questions
Companies have been asking fewer questions of the U.S. Securities and Exchange Commission's accounting staff this year, and that has regulators stumped. The SEC's Office of the Chief Accountant has received far fewer-than-normal consultation requests ...

The Spirit of Accounting
Last month's column revealed how senior officials from the IFRS Foundation and the International Accounting Standards Board badgered Securities and Exchange Commission Chair Mary Jo White to find funding from someone, anyone, affiliated with the ...

Auditors question Port of Longview's accounting
A state audit released Thursday faulted the Port of Longview for not including potentially large environmental cleanup costs in its 2011 and 2012 financial reports. Omission of those costs, state auditors said, showed the port failed to use standard ...

Plainview Resident Lands Elite Accounting Assistantship
He is one of three School of Management students in the past two years to be accepted into an assistantship with either the FASB or its counterpart for state and local governments, the Governmental Accounting Standards Board (GASB). UB is the only ...

Accounting Class Action Settlements Stable But Associated Market Losses Double
According to the report, “Accounting Class Action Filings and Settlements- 2013 Review and Analysis,” while the number of securities class action filings that included accounting allegations (47) remained relatively constant in 2013 compared with 2012 ...

How Accounting, Stop Groaning, Will Save the World
“Over and over again,” writes Soll, “good accounting practices have produced the levels of trust necessary to fund stable governments and vital capitalist societies, and poor accounting and its attendant lack of accountability have led to financial ...

Thomson Reuters Starts Tax and Accounting Newsletter
The newsletter is written by the company's Checkpoint Learning and Bisk CPEasy team. It aims to help readers stay informed about corporate tax and accounting news, and provide industry updates and insights. Thomson Reuters' newsletter will cover a ...

Bramwell's Lunch Beat: Lack of Accounting Queries Stumps SEC
The decline could potentially be caused by fewer new accounting rules, or a decline in mergers or acquisitions that have complex accounting consequences, Murdock said. It could also reflect the increasing focus by companies and auditors on internal ...

Accounting Manager for Super Park charged for alleged thefts for six months
(KMOV) -- A woman has been charged for allegedly stealing money from the Super Park parking lot at Lambert-St. Louis International Airport for six months. Police say Heather Flynn, 35, was the accounting manager for the Super Park parking lot and had ...

April 2014 Accounting and Auditing Highlights
Apr. 28- The Financial Accounting Standards Board issued a proposed accounting standards update that will allow all entities the option to apply pushdown accounting in their separate financial statements upon the occurrence of a change-in-control event ...

Accounting Manager
Nebraska Public Power District, in Columbus, NE is seeking an accounting professional to manage and direct activities of the accounting department staff including the preparation of timely and accurate interim and annual financial statements that ...

Accounting Positions Available!
Associates degree in Accounting or related field; 1-3 years experience in previous Accounting position; Strong organizational skills; An attention to detail; Ability to prioritize and maintain confidentiality, Excellent communication skills, problem ...

Saginaw Township lawmaker's bill would allow non-CPAs to head Michigan ...
Saginaw Township lawmaker's bill would allow non-CPAs to head Michigan ...

BofA's Accounting Blunder Brings No Bother to Buffett
Warren Buffett, who made a $5 billion investment in Bank of America Corp., said he's confident the lender will overcome an accounting mistake that forced the firm to suspend its capital plan this week. “That error they made does not bother me,” Buffett ...

At Bank of America, a $4 Billion Wet Blanket on the Party
But the billion-dollar boo-boo makes a victory lap premature. Instead, the bank's top management and 13 outside directors may well face upset owners wondering how so many people inside the company could have overlooked an accounting error that grew ...

Judas Mireles: Majored in accounting
In 2008, it looked as if Mireles, who grew up in the Valley, would put his accounting studies to work for a business in Phoenix. He did an internship at an accounting firm that promised him a job when he graduated. By fall 2008, with Wall Street in ...

Congressman wants accounting of West injuries
BRYAN, Texas (AP) — The congressman who represents the area damaged by a deadly fertilizer plant explosion wants Texas to re-examine the number of injured in the blast. Republican U.S. Rep. Bill Flores of Bryan sent a letter Thursday to the Texas ...

Congressman Wants Accounting of West Injuries
BRYAN, Texas - The congressman who represents the area damaged by a deadly fertilizer plant explosion wants Texas to re-examine the number of injured in the blast. Republican U.S. Rep. Bill Flores of Bryan sent a letter Thursday to the Texas Department ...

Accounting Asst Danny Thomas Co.
Accounting Asst. Danny Thomas Co. Tweet. Source: Arkansas Democrat-Gazette. Location: LITTLE ROCK, AR 72201. Date: 05/03/2014. Categories: Accounting/Finance. Danny Thomas Co. Apply. Apply using LinkedIn Profile. Please see Job Details for ...

CFPB Accounting Significantly Deficient: GAO Report
Specifically, the report found CFPB failed to develop internal controls over its yearend accrual process to ensure accounts payable amounts recorded were complete and accurate. The CFPB also failed to develop and implement controls to ensure accurate ...

And The Best Small Business Cloud Accounting Software Is...
And The Best Small Business Cloud Accounting Software Is...

UPMC rolling out new cost accounting system
Many kinds of activity-based costing techniques have been used for years in manufacturing and other industries, but have been difficult to apply in the more complex world of health care where treatments and the care setting must be tailored to ...

Local accounting firm acquires Tampa-based company
CRI is ranked as the 23rd largest accounting firm in the nation and the third largest in the south. It has more than 1,200 employees in 42 offices, according to a press release from the firm. Reader comments posted to this article may be published in ...

Payroll and Accounting Manager
Large NFP organization is seeking a full time Accounting/Payroll Manager with 5+ years of experience to manage multiple payrolls and provide accounting and analytical support to the finance department. Overall, the candidate must have a high level of ...

CalSTRS votes against BofA directors after big accounting error
CalSTRS votes against BofA directors after big accounting error. Posted on Monday, May 5 at 5:04pm | By Kathleen Pender · Print · —. The California State Teachers' Retirement System has voted its shares against Bank of America's external auditor and ...

App of the Week: Accounting Balls
... and the Accounting Balls app may be a good place to start. Designed for students in an introductory accounting course, the app offers a "game-ified" approach to learning about debits and credits and the whole balance sheet equation. The free entry ...

Birner Dental Management Services: Accounting Masks Substantial Value ...
Birner Dental Management Services: Accounting Masks Substantial Value ...

History of accounting shows what happens when numbers are ignored
Soll points to Luca Pacjoli, a Franciscan friar and mathematician, as the father of the first system of double-entry accounting (for those at the back of the class, this simply means the process of comparing income and expenditure in a single set of ...

Alliance Focuses on Helping Accounting Firms with State and Local Taxes
Keeping up with these issues is a nightmare for small and mid-sized businesses, but tax and accounting professionals can help, especially now that Avalara has teamed with accounting professionals to help other firms become more adept at state and local ...

International Accounting Firm Conference Kicks Off in Miami
Accounting thought leader Allan Koltin provided a keynote address at the International Accounting Group's (TIAG) 22nd international conference, which started on Monday and continues through May 7 at the Fontainebleau Hotel in Miami. Koltin is president ...

Congress Should Ditch BigLaw Cash Accounting, LIFO: Report
Law360, New York (May 06, 2014, 2:43 PM ET) -- Congress should pay special attention to 23 specific tax reform proposals in House Ways and Means Chairman Dave Camp's latest tax reform bill, two public interest groups said Monday, including ditching ...

GAO Finds Deficiencies in CFPB Accounting Procedures
The Government Accountability Office is calling for the Consumer Financial Protection Bureau to improve some of its internal controls and accounting procedures, according to a report released May 2, 2014. According to the GAO, a Dec. 16, 2013, report ...

NRC: Faulty Oyster Creek reactor accounting fixed
Operators of the Oyster Creek nuclear reactor in Lacey used inaccurate accounting for several years when figuring out costs for decommissioning the plant after 2019. But now but the accounting is back on track and the plant's $814,000 decommissioning ...

FAB Universal changes accounting firms in face of investigation
Pittsburgh-based FAB Universal, which is being investigated for its accounting practices, has switched accounting firms. The new firm, KCCW Accountancy Corp. of Diamond Bar, Calif., will complete an audit of the digital content provider's 2013 books ...

FAB Universal hires new accounting firm amid investigation
While under investigation for its accounting practices, Pittsburgh-based FAB Universal Corp. filed an 8-K with the Securities and Exchange Commission Tuesday stating that it has dismissed its former accounting firm Friedman LLP and has hired Diamond ...

Ask LH: Can Accounting Software Automatically Import My Bank Statements?
Dear Lifehacker, I find it hard enough to stay motivated to do my accounts, and downloading statements from multiple banks is an absolute pain in the butt. The double-handling of information just seems incredibly unnecessary in this day and age. Is ...

TAX ACCOUNTANT - PUBLIC ACCOUNTING PROFESSIONALS
Bauman Associates, Ltd. is an innovative and growing regional public accounting firm providing professional services to a variety of individual, business, and organizational clients. We place an equal value on our clients and our associates alike ...

After loss to Miami Heat, Brooklyn Nets offer sober accounting of areas to improve
Kevin Garnett and Paul Pierce went silent on Wednesday, much like their performance in Game 1 against the Heat a night earlier. Whereas Garnett and Pierce declined to speak to reporters a day after Garnett's first scoreless playoff game of his life and ...

Hot Job of the Day: VP of Finance/Accounting
TALLAHASSEE, Fla. (WTXL) - Your CareerSource Capital Region Hot Job of the Day for Thursday, May 8th, 2014 is a VP of Finance/Accounting. It is a Full time job. Pay depends on experience. The position requires a bachelor's degree in business, finance ...

Mobile POS, NCR Silver™ Makes Accounting Easy with Simple Tools and ...
Mobile POS, NCR Silver™ Makes Accounting Easy with Simple Tools and ...

Three from Carroll School Earn Accounting Honors
The Carroll School of Management's Accounting Department is getting high marks from the American Accounting Association (AAA), which recently gave two awards to Accounting faculty. Associate Professor Susan Shu won the prestigious Notable ...

Ater Wynne law firm, Perkins & Co. accounting firm pay $14.65 million to ...
Ater Wynne law firm, Perkins & Co. accounting firm pay $14.65 million to ...

Accounting Standard-Setters Offer Glimpse of 'Road Ahead'
The Financial Accounting Foundation has issued its 2013 Annual Report, entitled “The Road Ahead,” outlining the future direction of the FAF and the standard-setting boards it oversees, the Financial Accounting Standards Board and the Governmental ...

Jeopardy-Style Game Show Helps Accounting Students
On April 25, more than 60 college accounting students from Kentucky competed in PEAK, the Kentucky Society of Certified Public Accountants' (KyCPA) annual accounting competition. PEAK, which stands for Promote and Encourage Accounting in Kentucky, ...

Accounting Assistant- AP/AR and Purchasing
This position is responsible for all transactions with regard to accounts payable (AP) and accounts receivable (AR) on a daily basis. This position oversees out of state tax filings and e-commerce permits, purchase orders and administrative receiving ...

FASB Proposes 'Pushdown Accounting' Changes
The Financial Accounting Standards Board has issued a proposed accounting standards update on “pushdown accounting” from FASB's Emerging Issues Task Force. The update would be part of the business combination standards collected under Topic 805 ...

Penn State Berks to Begin Offering Accounting Degree
The Accounting degree program will help to prepare students for careers in auditing and public accounting, industrial and managerial accounting, and in governmental and not-for-profit accounting. It also provides a sound background for students who ...

FAF Issues Report: Brave New World in Accounting
The Financial Accounting Foundation, parent body of the FASB and the GASB, has released its annual report, which includes a summary of its past year and its audited financials. The report contains detailed descriptions of the many significant ...