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Accounting News 12/2014



SGTC Accounting and Business Administrative Technology advisory committee ...
SGTC Accounting and Business Administrative Technology advisory committee ...

Latest Accounting and Auditing Highlights- Nov. 2014
Nov. 18–The Financial Accounting Standards Board published Accounting Standards Update No. 2014-17- Business Combinations (Topic 805): Pushdown Accounting that allows an acquiring entity in a purchase transaction to decide whether or not to apply ...

United Rentals Appoints Jessica Graziano as Controller and Principal ...
United Rentals Appoints Jessica Graziano as Controller and Principal ...

University of Mary Accounting Program Ranked Second in Nation
The University received a score of 97.82 and was recognized on the ACO's list of “Best Accounting Degree Programs 2014-2015” for its “comprehensive online accounting program curriculum,” low teacher to student ratio, and the fact that 100 percent of ...

Art of Accounting: How an Out-of-Work Tax Preparer Saved Our Lives
A number of years ago we purchased a practice in late February to get the business clients. However, we had to agree to service the individual tax clients, of whom there were about 180, with each paying a very low fee. The seller did not want to hang ...

Accounting firm expanding business in Albany
ALBANY, GA -- A local accounting firm is expanding into Albany. Hutchins Clenney Rumsey Huckaby, P.C. has entered into a purchase agreement to acquire Albany-based firm Robert B. Smith CPA, P.C.. Officials say the purchase will become effective ...

MOL Global shares tumble on Vietnam accounting glitch, profit slump
(Reuters) - Shares in MOL Global Inc (MOLG.O), the first Malaysian company to list in the United States, fell more than 60 percent on Monday after the online payments company reported accounting errors at its Vietnam unit and a 61.5 percent fall in net ...

Chamber welcomes Jeanine Pfeiffer, Pfeiffers Accounting & Consulting LLC to ...
Chamber welcomes Jeanine Pfeiffer, Pfeiffers Accounting & Consulting LLC to ...

BPS flunks accounting 101: Tighten school funds oversight
A reportreleased by the Boston Finance Commission on the Boston Public Schools' use of funds held by an affiliated not-for-profit foundation to pay for parties, plane tickets, and moving expenses revealed a troubling lack of oversight. While the school ...

Analyst: Salix accounting concerns may be overdone
Analysts with Sterne Agee wrote in a research note Monday that Raleigh-based Salix Pharmaceuticals accounting problems may be overdone. Salix has lost 27 percent of its market value since it restated its drug inventory levels in November, increasing ...

Major accounting firms in Syracuse announce merger
Syracuse, N.Y. — The planned merger of two area accounting firms in January will create one of the largest accounting and consulting companies in Central New York. The Bonadio Group's Syracuse office and Syracuse-based Testone, Marshall & Discenza ...

Accounting firm opens first Miami office
Illinois-based accounting and consulting firm Crowe Horwath LLP has opened its first Miami office, joining the urban business and finance hub centered around Brickell Avenue. The new office is located at 1395 Brickell Ave., 11th floor. It joins the ...

Accounting firms' merger means expanded consulting for Oklahoma clients
David Greenwell discusses the recent merger of McGladrey national accounting firm and Oklahoma City-based Cole & Reed. Expanded consulting services include litigation support, risk management, information technology security and more. by Paula ...

How Cloud Accounting Software Can Make A Difference In Your Business
This is especially true if you're relying on a desktop accounting software to manage your financial reports. These programs are confined to a single computer, and can often make it difficult to get things done when you're away from your laptop or the ...

4 Crucial Steps to Write More Effectively about Accounting
Increasingly, accountants have to work with a variety of departments, such as information technology and accounts payable, as organizations seek to leverage internal talent and reduce reliance on external consultants. Written communication, whether ...

4 Crucial Steps to Help You Write More Effectively about Accounting
Increasingly, accountants have to work with a variety of departments, such as information technology and accounts payable, as organizations seek to leverage internal talent and reduce reliance on external consultants. Written communication, whether ...

3 Questions: Focusing On The Pass, Brent's Readiness, Accounting For Bears DT
If you were Scott Linehan calling this game how would you attack this Bears defense? I believe the first thing I would do is get Dez Bryant, Terrance Williams and Jason Witten going very early in this game. What I have to assume is that my defense will ...

Rauner: Quinn's Accounting "Fundamentally Dishonest"
Rauner: Quinn's Accounting "Fundamentally Dishonest". "Fundamentally dishonest." Bruce Rauner not mincing words Tuesday when talking about how Illinois got into this financial mess. Rauner says Quinn's dishonest budgeting practices make the situation ...

Auburn-based Polaris adds to accounting service offerings
The company is making three packages available, tailored to CFOs, controllers and accounting manager. The service includes assistant with financial statement preparation, budgeting, project profitability, accounts receivable and accounts payable ...

Accounting firm LB&A to merge with Haynes Strand and Co.
Matthews-based LB&A, a certified public accountant, has merged with Greensboro-based Haynes Strand and Co. The new entity will be known as LBA Haynes Strand PLLC and will continue to serve small and middle-market businesses. LBA Haynes Strand ...

Evanston accounting firm in merger
The Evanston-based accounting firm of Brown, Kaplan + Liss is now part of Porte Brown LLC, due to a merger that took effect this week. Porte Browne, headquartered in Elk Grove Village, is a 65-year-old full service accounting and consulting firm. Brown ...

Accounting differences, not fraud, led to HP's Autonomy write-down, says Lynch
Autonomy founder Mike Lynch says he has obtained a Hewlett-Packard document that shows how differences in accounting standards, not fraud on Autonomy's part, are to blame for the debacle surrounding HP's acquisition of the company. HP purchased ...

Accounting differences, not fraud, led to HP's Autonomy write-down
Lynch made the claim about accounting standards Tuesday in a blog post, saying the revenue information in the document showed that Autonomy properly documented its sales. Some of the accusations around the merger's fallout include claims that ...

Rauner Blasts Illinois Budget's 'Accounting Gimmicks'
Gov.-Elect Bruce Rauner frequently griped about Illinois' unbalanced budget on the campaign trail. Weeks away from his official swearing-in, the Republican venture capitalist-turned-political rookie is wringing his hands over lawmakers' 2014-2015 ...

Draft Report Of Einstein Academy Audit Notes Accounting Concerns
One entry in the report identified the schools' nonprofit wing the AEALAS Foundation accounting records identified a vendor as “Pizza Place” with four transactions in October 2013 totaling $13,847.65, “however, the supporting documents indicated that ...

Sony Pictures Hack Embroils Accounting Firm Deloitte
Salary information for employees of the professional services and auditing firm appears to have been leaked as part of the cyber attack, according to a report Wednesday on Fusion. “We have seen coverage regarding what is alleged to be 9-year-old ...

Predictive Accounting: What Is It and Should You Being Doing It?
There are a few firms that get this – such as Interactive Accounting, a full-service accounting firm that offers bookkeeping, tax, accounting and advisory. They also help with capital raising. But how do they do it … and can you do it too? Lisa ...

MannKind: Strategy, Accounting, And Technosphere At Piper Jaffray Healthcare ...
MannKind: Strategy, Accounting, And Technosphere At Piper Jaffray Healthcare ...

Two accounting firms announce 'a merger of equals'
The latest accounting merger in Western New York follows this week's announcement that The Bonadio Group, the third-largest CPA firm in the region, plans to merge with a Syracuse-based firm. Closer to home, Bonadio merged Nov. 1 with the former ...

The 30 Most Affordable Accounting Schools for Undergraduates in 2014-15
With tuition and fees totaling $10,000 for incoming out-of-state freshmen, Provo, Utah-based Brigham Young University offered the most affordable accounting program for undergraduate students this school year, according to a new report from Accounting ...

SL Green Names Maggie Hui as Chief Accounting Officer, Effective January 1 ...
SL Green Names Maggie Hui as Chief Accounting Officer, Effective January 1 ...

Todd Lundy, consultant to law and accounting firms, dies at 76
He graduated from the University of Pittsburgh with a degree in accounting. He met Chicagoan Morissa Bernstein when she was a student in Pittsburgh and moved with her to Chicago after they were married. In Chicago, he started with a small regional ...

Nicholls accounting degree among most affordable
Nicholls State University's undergraduate accounting degree is one of the most affordable in the country, according to a recent study. Nicholls State ranked No. 21 in the country and No. 2 in Louisiana, two spots behind Southeastern Louisiana ...

Hillary Clinton, in Boston, says families deserve 'full, fair accounting'
Hillary Clinton addressed head-on the killings of two unarmed black men — one in Ferguson, Mo., and another in Staten Island, N.Y. — saying yesterday justice is “out of balance.” “I know that a lot of hearts are breaking and we are asking ourselves ...

SEC Charges Bank Holding Company with Improper Accounting
The Securities and Exchange Commission has charged a Virginia Beach-based bank holding company and its former chief financial officer with violating the federal securities laws by improperly accounting for a deferred tax asset that was not fully ...

Accountants Increasingly Use Data Analysis to Catch Fraud
When a team of forensic accountants began sifting through refunds issued by a national call center, something didn't add up: There were too many fours in the data. And it was up to the accountants to figure out why. Until recently, such a subtle ...

Southern Miss Accounting Degree Ranked Among Nation's Most Affordable
“We are already among an elite group of only 170 accounting programs separately accredited by AACSB,” said Dr. Gwen Pate, director of the Southern Miss School of Accountancy. “To be number 10 out of these quality programs in affordability signals the ...

USM accounting degree ranked among most affordable
When it comes to affordability, the University of Southern Mississippi's undergraduate accounting degree rates among the nation's best in the newest rankings announced by Accounting Degree Review. Accounting Degree Review researched the ...

Accounting firm blamed for some of city's fiscal challenges
“If the Council and city officials had solicited proposals for audit services, then the Council may have selected a different CPA firm that may have identified that the city accounting records were in such poor condition and that the city was ...

Southern Miss Accounting Degree Ranked Among Nation's Most Affordable
“We are already among an elite group of only 170 accounting programs separately accredited by AACSB,” said Dr. Gwen Pate, director of the Southern Miss School of Accountancy. “To be number 10 out of these quality programs in affordability signals the ...

Southern Miss Accounting Degree Ranked Among Nation's Most Affordable - FOX6 WBRC
When it comes to affordability, The University of Southern Mississippi's undergraduate accounting degree rates among the nation's best in the newest rankings announced by Accounting Degree Review. Accounting Degree Review researched the ...

WFU business students achieve top pass rate on accounting exam
Wake Forest had the highest pass rate for universities with a certified public-accounting program among 787 institutions included in the 2014 edition of Uniform CPA Examination Candidate Performance and the No. 1 pass rate for large and medium sized ...

Tapeke: Zero-Knowledge Accounting Software for Bitcoin Management
Bitcoin, as the best ledger of all time, would be great at forever recording the details of all our transactions for personal accounting purposes. “Third installment to Ray Peterson on personal loan.” “Payment for monthly Viagra refill.” “Purchase of ...

Homebuilders Association Questions Accounting of Former EVP Julie Mills
The Arkansas Homebuilders Association has asked a Pulaski County Circuit judge to order a former executive to account for certain financial transactions she was responsible for during her tenure. The group filed a complaint against Julie Mills, who ...

UK accounting watchdog warns retailers after Tesco scandal
Tesco has admitted overstating half-year profits by 263 million pounds ($411 million) after identifying accounting irregularities caused by booking income from suppliers too early, and costs too late. Suppliers typically offer supermarkets rebates for ...

Choosing the Right Accounting Software for Your Needs
Investing in an accounting software is one of the best decisions a small business owner can make. But is using one right for your business? For some businesses, using spreadsheets and even hand-written ledgers will do. For most, however, the ease and ...

Accounting Today December 2014 Digital Edition
The issue contains articles on topics such as what experts and your peers expect for 2015; what a successful client accounting services offering looks like; the keys to success in financial planning; how to avoid office infernos; future diversity in ...

Best Accounting Software for Small Businesses - 2015 Edition
Not all small businesses are built alike. From startups and microbusinesses to growing and established companies, small businesses have diverse accounting needs. Our staff researched and reviewed dozens of accounting software products and picked out ...

FreshBooks Review: Best Accounting Mobile App for Business
The problem with most accounting mobile apps, however, is that they lack many of the functions business owners need. They typically offer the bare minimum features, limiting capabilities to just a few accounting tasks like creating and sending invoices ...

Wave Review: Best Free Accounting Software for Businesses
After much research and analysis ofaccounting software, we recommend Wave Accounting as offering the best free accounting software for small businesses with less than 10 employees. Ready to choose an accounting software? Here's a breakdown of our ...