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Accounting News 01/2015



Lobbying Behavior of Governmental Entities: Evidence from Public Pension ...
Lobbying Behavior of Governmental Entities: Evidence from Public Pension ...

Tax and Accounting Industry Starts 2015 on Hiring Binge
With tax and accounting professionals across the country reporting strong demand for new hires, the nation's tax, accounting and bookkeeping industries are adding new jobs at the rate of about 1,400 new staffers a month, according to a new CPA ...

Two Yakima Valley accounting firms merge
YAKIMA, Wash. — Two longtime Yakima Valley accounting firms have become one with the new year. Prosser-based Newhouse & Associates merged its practice with Yakima-based Alegria & Co. effective Thursday, the two companies announced in a news ...

Smolen Bonghi, Fleischmann in accounting merger
Smolen Bonghi Certified Public Accountants & Consultants has reached an agreement with David J. Fleischmann CPA P.C. in Clarence to form a new entity called Smolen Bonghi Fleischmann LLP. The combined company will operate two offices and employ ...

Government comes out with roadmap for new accounting standards
NEW DELHI: The government today said that companies with a networth of Rs 500 crore or more will have to mandatorily follow the new accounting norms that are converged with global standards from April 1, 2016. Besides, corporates having a networth of ...

New accounting firm open in Dixon
Whitson CPAs is a new accounting firm in Dixon, which opened its doors in September. The firm offers a variety of services, including income tax preparation for businesses, individuals, estates and trusts; QuickBooks setup, support and training ...

New Haven, Fairfield Accounting Firms Merge
Two accounting firms, in New Haven and Fairfield, have merged to become Beers, Hamerman, Cohen & Burger, P.C., the combined company announced Friday. The merger, effective Thursday, joins Beers, Hamerman & Co., P.C. in New Haven, and Cohen, ...

Dolen named partner at accounting firm
With over 20 years of accounting and auditing, Dolen will oversee the audit department and continue to serve clients throughout Southeastern Ohio. She holds a bachelor's degree in accounting and business from Muskingum University and associate degree ...

Ordinance limits recorder-treasurer duties; Mayor to take on accounting duties
Section 4 of the ordinance mandates that the recorder-treasurer will no longer maintain the accounting records of Diamond City. Instead, those duties will be performed by the mayor and certain city employees as appointed by the mayor until the time the ...

Pollution as Theft: Accounting for Systemic Externalities
We leave things out. It's really easy to do and sometimes it's an innocent, unintentional omission. We leave out key ingredients, factors, considerations, in the things we do, the things we make. Science has done just fine with that for a long time ...

Hunterdon County Chamber to hold ribbon cutting ceremony for Glicklin ...
Hunterdon County Chamber to hold ribbon cutting ceremony for Glicklin ...

Could a Corporate Accounting Change Cost Millions of Jobs?
A modest change in an accounting rule is normally too much inside baseball to attract notice. But a proposal by the institutions that set accounting standards for publicly traded companies is prompting criticism from Congress and corporate America ...

Even Bulls Seem To Agree: AmTrust's Loss Reserves Defy Accounting Logic ...
Even Bulls Seem To Agree: AmTrust's Loss Reserves Defy Accounting Logic ...

Big accounting firms taking the lead on sustainable development
Accountants around the world are currently considering how the organisations they work for can meet the UN's Sustainable Development Goals. As experts in measurement and data controls, analysis, reporting and monitoring, it makes sense for them to take ...

Art of Accounting: I Used to Hate QuickBooks
When QB came out, most of my small business clients were using DOS-based accounting software, and we were using similar software for our after-the-fact work. At some point we were getting new clients that had purchased QB and we needed to learn how ...

The Spirit of Accounting
In our column last month, we described Peter Thiel's concept of "Zero to One" innovation that aims to significantly alter the way things are done, as contrasted with "One to N" innovation that merely tweaks the status quo. We explained that the key to ...

Hiring Outlook Finds More Companies Have Accounting Job Vacancies
A large number of US companies have reported an increased number of open accounting, finance, and IT positions – especially in corporate accounting and IT administration – heading into the new year, according to a new hiring forecast from Chicago-based ...

ICAI gearing up to meet challenges on new accounting norms
Indian Accounting Standards (Ind AS) have been converged with International Financial Reporting Standards (IFRS) and would come into effect on voluntary basis from April, this year, the Institute of Chartered Accountants of India (ICAI) said in a ...

Fair Value Accounting: The obscure rule change that could make student loans ...
Fair Value Accounting: The obscure rule change that could make student loans ...

Accounting News Roundup: Accountants Wanted; Finding a New Job in 2015 ...
Accounting News Roundup: Accountants Wanted; Finding a New Job in 2015 ...

Amherst accounting firms merge
A pair of Amherst accounting firms – Lougen Valenti Bookbinder & Weintraub and Borelli & LiPuma CPAs – have merged. The merger, which took effect on Jan. 1, will add Borelli & LiPuma along with three staff members, to Lougen Valenti Bookbinder ...

Gov. Pat Quinn issues final accounting of his record on business development
Pat Quinn's final accounting of his record in office on the business development front, the Governor's office today released a summary of some of Quinn's most notable accomplishments in the business arena. Noted Quinn: "When I took office on Jan. 29 ...

Critics want accounting of $41 million in Buffalo school construction costs
About a quarter of the $175 million intended to rebuild Buffalo's crumbling schools during the fifth phase of a massive renovation project cannot be publicly accounted for, leaving some members of the project's oversight board to wonder how much money ...

Ephrata retains accounting firm for 2014 audit
EPHRATA — Ephrata is sticking with the accounting firm that has done its audits since 2006 even though it had a lower offer on its latest request for audit proposals. Council agreed Monday to have its 2014 audit done by Maher Duessel, Harrisburg ...

Albion council nixes accounting switch
ALBION — Oversight of the town Albion's finances will remain under the same eyes after an attempt to switch bookkeeping and accounting providers failed at Tuesday's organizational meeting. Supervisor Matt Passarell received approval as the town's ...

Amherst accounting firms start year with merger
The number of certified public accountants on staff at Lougen Valenti Bookbinder & Weintraub LLP has risen by two following the Jan. 1 merger with Borelli & LiPuma LLP in Amherst. Terms of the deal were not disclosed, but Lougen Valenti said they now ...

Xero Wants All Small Businesses To Do Accounting In The Cloud
For many small business owners, accounting can't be further from being fun. Yet accounting is a vital function of any small business to manage their finances to ensure survival and long-term success. Understanding the necessity of accounting as much as ...

Who has responsibility for Ebola? The IMF, the West, or unpleasant accounting?
Last week I reacted to a Lancet op-ed that blamed the International Monetary Fund (IMF) for the Ebola crisis in West Africa. I argued that Liberia, Sierra Leone and Guinea are weak states that couldn't have spent health money well if they wanted to ...

Scheffel Boyle CPAs Welcomes 16 New Accounting Professionals for 2015
Scheffel Boyle is pleased to announce the addition of 16 new accounting professionals to its staff. From September 2014 through January 2015, the CPA firm has expanded its workforce throughout its 10 offices to now include eight new part-time ...

Elizabeth Warren Fights Back Against the "Magical Accounting" of Trickle-Down ...
Elizabeth Warren Fights Back Against the "Magical Accounting" of Trickle-Down ...

3 Resolutions to Position Your Accounting Firm for 2015
If every accounting firm touts its experienced and qualified partners, clients will see little differentiation and may overlook the value-added services and skills that make your firm superior. Consider identifying and marketing an industry niche or a ...

Republicans in Congress Have a New Accounting Trick
Views Of The U.S. Capitol As Republicans Take Control Of The Senate Nov. 5, 2014. Scaffolding surrounds the U.S. Capitol building while it undergoes repairs in Washington, D.C. Republicans roared back in the midterm elections on Tuesday, capturing ...

Salisbury University Accounting and Legal Studies Dept. Earns Accreditation
SALISBURY, Md.- Salisbury University's Accounting and Legal Studies Department recently earned accreditation from AACSB International, the longest-serving global accrediting body for business schools. Part of SU's Franklin P. Perdue School of Business, ...

Tailored Accounting at IPOs Raises Flags
Zoe's, a chain of 125-plus Mediterranean-theme restaurants that went public in April, reported an adjusted profit of $13.2 million for the first nine months of 2014 under its own accounting treatments that strip out a variety of expenses. Including ...

Accounting firm Wipfli adds locations
The transactions took effect Dec. 31; terms were not disclosed. With the additions, Wipfli has 1,400 associates, 170 partners, and 31 office locations. It is among the top 25 accounting firms nationwide, based on revenue, according to Inside Public ...

The Coming Demise And Rebirth Of The Accounting Profession
Like all professionals, accountants are fungible. This is not to say that some accountants are superior to others, for that is certainly the case. The capabilities of individual accountants and the support they receive from their firms can certainly ...

How To Stop Dreading Your Small Business Accounting
You get to make a living by following your passion. And you get to be your own boss and run the business on your terms. But in order to succeed as a small business owner, you need to manage cashflow correctly. This means keeping accurate accounting ...

UConn's Online Master's in Accounting Ranked No. 3 by US News
A report released Jan. 7 by U.S. News & World Report ranked the UConn School of Business' online Master of Science in Accounting program No. 3 in the nation. The highly competitive program, which typically draws up to 200 students each year, was ...

Wheaton Accounting Firms Announce Merger
January 8, 2015, Wheaton, IL-The partners of Mathieson, Moyski, Austin & Co., LLP, Certified Public Accountants and Advisors (MMA & Co.), announce the merger of their accounting and financial services firm with Eisenmenger & Co., a CPA firm located in ...

Creative Accounting Becoming More Common For IPOs
In an alarming development on Wall Street, a growing number of firms looking to make an initial public offering are turning to creative accounting in an attempt to appeal to investors. According to a January 7th article by Michael Rapoport of the Wall ...

5 Reasons Why a Combination of Public Accounting and Private Industry ...
5 Reasons Why a Combination of Public Accounting and Private Industry ...

Lee Business School accounting students take top prize in accounting competition
Four Lee Business School accounting students swept top honors and a $5,000 prize at the American Institute of Certified Public Accountants (AICPA) Accounting Competition on Dec. 19 in Washington, D.C.. The cash award will benefit the school's ...

Elizabeth Warren Blasts 'Magical Accounting' of Trickle-Down Economics
By: Sylvia Lane (Boston Globe). WASHINGTON — Appearing before a friendly crowd of labor activists, Senator Elizabeth Warren fired a broadside Wednesday against “trickle-down'' tax policy and slammed Congress for propping up business interests ...

Stanley Furniture drops on accounting error
STLY, +8.77% shares dropped 5.3% in premarket trading on Friday after the furniture maker said it identified an error related to accounting tied to its deferred compensation capital enhancement plan. Correcting the mistake would be "material" to the ...

Dems scramble to perpetuate deceptive Social Security accounting
If it's left unreformed, over 10 million recipients of Social Security's disability insurance will have their benefits arbitrarily cut by 20 percent near the end of 2016. Many Democrats want to sweep the problem under the rug with an accounting gimmick ...

Finance Ministry proposes new tax accounting standards for businesses
"The premise of the tax accounting standards is to bring in consistency in the tax positions being adopted by the companies... and ensure adequate disclosure of these tax positions including any exceptions to the same," Vikas Vasal, Partner at KPMG in ...

Fairfield accounting firm merges with New Haven group
"This merger will allow us to expand the resources and expertise we offer to our clients, while maintaining the same personal relationships and high quality of service that we have provided in the past," said David Migani, who has been managing partner ...

2 Connecticut accounting firms merge
Merger activity involving New Haven-area companies has started off with a flourish in 2015, with the second deal in a week being announced. The latest deal involves two Southern Connecticut accounting firms, New Haven-based Beers, Hamerman & Co., ...

Agency keeps watch on accounting standards
Terri Polley, president and CEO of the Financial Accounting Foundation (FAF), poses for a photograph at the organization's office in Norwalk, Conn. FAF collects feedback and proposes changes to U.S. GAAP accounting rules and compliance with ...

Job Hopping Pays off for Accounting and Finance Pros
Accounting and finance professionals who switched jobs last year saw an average salary increase of 13.24 percent, according to a new survey. The Execu|Search Group, a recruiting and staffing firm, has just released its 2015 Regional Hiring Outlook ...