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Accounting News 08/2014



OCC 'disappointed' at lack of accounting convergence
"The OCC is disappointed that standard setters have been unable to achieve full convergence at this juncture, particularly on accounting for financial instruments. We understand the challenges the two boards faced in trying to improve financial ...

Bramwell's Lunch Beat: SEC Turns to Deloitte for Top Accounting Job
As reported in the Wall Street Journal, "people familiar with the matter" say that SEC Chair Mary Jo White is considering James Schnurr, a former senior partner in Deloitte's national accounting office, to succeed Paul Beswick as the SEC's chief ...

Hobart native launches social network for legal, accounting fields
Gorincen said he wanted to give accounting and legal professionals an opportunity list profiles, find continuing learning education programs, post blog entries and articles, share news and find a business. The membership fee for law and accounting ...

RICHARDSON: An accounting: Part 4
This accounting has nothing to do with the Promise Center, the Promise Neighborhood Initiative or the Bibb County Board of Education. This week's accounting doesn't have to wait for a program. It doesn't need funding. All it needs is a commitment of ...

Accounting firm steps up with name change, move downtown
It will be a summer of transition for Jim Redpath, Mark Gibbs and the White Bear Lake accounting firm they run. Formerly known as HLB Tautges Redpath Ltd., it is rebranding, relocating and going through a change in leadership. First off is the new name ...

Birmingham resident receives national accounting award
Her husband, and business partner, Tom Wynne-Jones, said, “I have never seen anyone be able to talk to a group of people about accounting and software and create such enthusiasm. People just seem to get excited when she is around. She is very ...

Scituate church occupiers demand accounting, vow to stay
Iron-willed parishioners of a long-shuttered Scituate church, advised by Cardinal Sean O'Malley it's time to turn out the lights and move on, voted unanimously this morning to ask Pope Francis to investigate the Archdiocese of Boston's finances — even ...

Kansas City Accounting Firms Merge to Provide Additional Services
Under the Meridian umbrella, the group will continue offering tax and accounting consulting for individuals and small businesses, with expanded services - including outsourced CFO capabilities, audits/reviews, and payroll. The expanded staff of ...

New England investments paying off as turnover, profits rise amid accounting ...
New England investments paying off as turnover, profits rise amid accounting ...

Spain joins accounting firms
Summit and Insight are full-service certified public accounting firms providing accounting, audit and tax services and specializes in serving churches and non-profit organizations, as well as focusing on litigation support and fraud investigation and ...

Area accounting firms consolidate their books
An area CPA firm said Monday that it has merged with Meridian Business Services LLC. Cillessen Financial LLC joined Meridian in July, according to a release from the companies. Cillessen will continue to offer tax and accounting services, but gain ...

The enforceability of a trust accounting clause's failure-to-object provision ...
The enforceability of a trust accounting clause's failure-to-object provision ...

Cleveland Affordable Accounting & Tax Solutions grand opening Saturday
CLEVELAND — Affordable Accounting & Tax Solutions, located at 11713 Statesville Blvd. in Cleveland, will hold its Grand Opening on Saturday, Aug. 9 at 2 p.m. The new family owned and operated business includes Saundra Bradshaw Hoffner, EA; Brandi ...

OCC 'disappointed' at lack of accounting convergence
"The OCC is disappointed that standard setters have been unable to achieve full convergence at this juncture, particularly on accounting for financial instruments. We understand the challenges the two boards faced in trying to improve financial ...

July Accounting and Auditing Highlights(1)
July 21 — A bipartisan group of lawmakers said they're worried that the Securities and Exchange Commission will adopt international financial reporting standards alongside U.S. generally accepted accounting principles and set back the interests of ...

PA Group USA Named To Accounting Today's VAR 100 List For 2014
CHATTANOOGA, Tenn. — July 30, 2014 — PA Group USA has been named by Accounting Today as one of the top 100 Value Added Resellers (VARs) of accounting and ERP software in North America. Accounting Today's annual report acknowledges ...

Report: Government Accounting Hides Debt
“The rules that apply to government accounting of public pension plans enable governments to use rosy assumptions about investment returns to make pension assets look sufficient to cover pension liabilities,” the report says. “Many government reports ...

Hitachi to outsource finance & accounting operations to Genpact
NEW DELHI: Genpact today said Japan-based diversified manufacturing conglomerate Hitachi has selected the outsourcing services provider to transform and outsource a number of its finance and accounting (F&A) operations. The US-based BPO services ...

Electronic accounting rules
The tax reform effective in 2014 includes a new obligation requiring the monthly filing of accounting information on electronic media[1] pursuant to the general rules. The general rules issued by the Tax Administration Service ("SAT"), establish the ...

Smeal's Accounting Advisory Board welcomes new chair, members
UNIVERSITY PARK, Pa. -- Penn State Smeal College of Business accounting alumnus Pat Durbin, Class of 1991, has been named chairman of Smeal's Accounting Advisory Board. The board meets twice each year to provide perspectives on the curriculum ...

H&R Block Reaches out to Attract Accounting Firms
“As we're looking to move into the client accounting services space, with bookkeeping, payroll, etc., an important thing for us was having a certain level of operational and strategic expertise, which Jennifer absolutely brings to the table,” said ...

Spark Energy Is An Accounting Enthusiast's Dream (SPKE)
I start with the income statement - nothing unusual there, I move to the cash flow statement, and if I'm still not sold in either direction I start to look around for any accounting irregularities or accounting practices that can cause confusion or ...

Cloud-based accounting software company Intacct names Massey Consulting a ...
Cloud-based accounting software company Intacct names Massey Consulting a ...

Accounting Tops List of Most Profitable Industries
Accounting, tax preparation, bookkeeping and payroll services are collectively amongst the most profitable industries, according to Sageworks, a provider of financial information on privately held companies. Those services collectively had a net profit ...

Accounting And Bank Payments System Moves To The Cloud
Payment provider CashFlows and cloud accounting firm Clear Books teamed up to create the first fully integrated cloud-based accountancy and online business banking service for SMEs. The two companies announced the launch of their new tool yesterday ...

Accounting firm is the latest to vacate One Seneca Tower
Business First reports that the Buffalo division of PricewaterhouseCoopers LLP will vacate the building that is now One Seneca Tower on August 25. The company has had offices in the tower since 1972. The accounting firm will move to the 10th floor of ...

H&R Block plans M&A spree in accounting
It's in the wheelhouse for BMRG, which consults with accounting firms to help them assemble the education, resources, tools and services to create modern accounting practices using best-in-breed technology. Once her clients graduate from the program, ...

Watercooler: Local accounting firm announces promotions; Eastern Shore ...
Watercooler: Local accounting firm announces promotions; Eastern Shore ...

AICPA awards 2014 Distinguished Achievement in Accounting Education
The American Institute of CPAs awarded Kenneth Merchant with the 2014 Distinguished Achievement in Accounting Education Award. The award, bestowed at the annual meeting of the American Accounting Association Wednesday in Atlanta, recognizes ...

UW Clemon's resignation letter: ASU ignored advice to choose new accounting ... - The Huntsville Times
UW Clemon's resignation letter: ASU ignored advice to choose new accounting ...

Ready or Not (And You're Probably Not) Lease Accounting Changes Are Coming
HOUSTON, TEXAS—Buried in the middle of a speech he was giving on international accounting standards in Singapore at the end of May, Hans Hoogervorst, chairman of the London-based International Accounting Standards Board, dropped this bombshell ...

Obama Blames Accountants for Inversion Trend
During a press conference Wednesday following a summit with African leaders, Obama said, “You have accountants going to some big corporations—multinational corporations but that are clearly U.S.-based and have the bulk of their operations in the ...

Schneider Downs moves up among 100 largest accounting firms
More than 40 percent of the nation's largest accounting firms reported a merger, acquisition or combination in 2013, according to IPA, which has been producing the annual ranking for 24 years. Patty Tascarella covers accounting, banking, finance, legal ...

Senators Express Concern about Accrual Accounting Proposal
Nearly half the members of the U.S. Senate have signed a letter expressing concern about a tax reform proposal to require the use of accrual accounting and are urging the leaders of the Senate Finance Committee to preserve the option of the cash method ...

Citrin Cooperman helps accounting field evolve
Niles Citrin and Joel Cooperman in 1979 were still in their 20s when they founded their accounting-advisory firm Citrin Cooperman and, as related by Managing Partner Mark Fagan recently, business was slow. In perhaps the unlikeliest financial pairing ...

Accounting firm makes acquisition
The office employs two CPAs, accountants and staff. Russell's firm has been serving mainly self-employed clients in the southeast Grand Rapids area since 1986. The firm offers a range of accounting, tax and consulting services. H&S said Russell will ...

IRS subpoenas local accounting firm in Dealmakers investigation
14 News has learned Evansville City Council President John Friend's financial company has been linked to a huge shoplifting ring bust. During Tuesday's raid, FBI agents swarmed Dealmakers in Newburgh, collecting TV's, power tools, and high-end ...

30 Years Of Accounting Lessons: Penman, Piotroski, Beneish, And More
Ou and Penman, “Financial Statement Analysis and The Prediction of Stock Returns” published in the Journal of Accounting Research in 1989. 2. Abarbanell and Bushee, “Abnormal Returns to a Fundamental Analysis Strategy” published in The Accounting ...

Accounting firms merge to form Coosa Valley Financial Group
CVFG offers a variety of tax and accounting services along with financial planning expertise. President Mark Busby said the agency has seven employees and expects to expand soon. It plans to add property and casualty insurance services at all three ...

Bramwell's Lunch Beat: Senators Outline Case Against Accrual Accounting ...
Bramwell's Lunch Beat: Senators Outline Case Against Accrual Accounting ...

Art of Accounting: Break-even Analysis
One of the best tools to evaluate a business and get a quick handle on the knowledge of the owner or manager is the break-even analysis. Break-even analysis is a simple calculation that tells how much sales are needed to break-even, and how much will ...

Accounting Rule Makers Diverge on Lease Expensing
U.S. and international accounting rule makers are getting closer to a final version of their long-awaited lease accounting overhaul by next year, but the two boards are unlikely to use the same lease expensing model in their final rules. The London ...

Boge named partner at accounting firm
Ryan B. Boge has been named the newest partner at Boge, Wybenga and Bradley, P.C.. He has been employed with the Mt. Pleasant firm since 2001 and earned his bachelor's degree in business administration with an accounting major from Central ...

New accounting norms to help attract foreign capital: Ernst & Young
NEW DELHI: Implementation of new accounting standards, converged with international norms, would further boost India's ability to attract foreign capital and access global capital markets, says a report by consultancy EY. However, it has also cautioned ...

Motley Fool | Accrual method of accounting includes revenue yet to come in
A: It's an important accounting concept, because with the accrual accounting system, the “ revenue” (sales) on a company's income statement might not have actually been received by the company. Revenue doesn't necessarily represent the receipt of cash ...

Immediate, transparent accounting of DAP is in order
The immediate and transparent accounting of the Disbursement Acceleration Program (DAP)—this should have been the proper response of the government after the Supreme Court issued a unanimous decision declaring substantial parts of the DAP ...

Accounting Today Accepting 2014 MP Elite Submissions
Accounting Today is now accepting submissions for its annual Managing Partner Elite list of top firm leaders. The MP Elite report, which will be published in the October issue, identifies and profiles approximately a dozen of the best leaders of public ...

Accounting Today Recognizes The Resource Group to Its Var 100 List in 2014
Accounting Today has named The Resource Group to its top 100 Value Added Resources (VAR) report for 2014. Based in Renton, Wash., The Resource Group helps clients improve business processes, overcome challenges during growth and connects ...

Rousch becomes sole owner of Medina accounting firm
Holly Rousch, who joined the firm in January 1998, will continue to operate the accounting business at 534 Main St. Zelazny said he has been working on the farm for about five years, since the death of his brother and father, and has decided to ...

Three accounting blunders and embarrassments
1) Hertz - the car rental company last month confirmed it would have to restate or correct three years of accounts to sort out problems that began in 2011 with the way the business calculated the capitalisation and depreciation of some assets and ...