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Accounting News 02/2015



ACCOUNTING - COST / AP DEPT
ACCOUNTING - COST / AP DEPT We are looking for a full-time EXPERIENCED person to join our Accounting Department. This position requires an individual who is self-motivated, detail oriented, reliable, and has excellent organizational skills. Accounting ...

University accounting students provide free tax preparation
ST. GEORGE — Students in Dixie State University's four-year accounting program, in association with the Internal Revenue Service's Volunteer Income Tax Assistance program, will again provide free personal tax assistance to the community during the ...

Accounting 'superheroes' keep businesses humming
A desire to take back control of her mortgage saw Lisa Martin become a personal trainer who regularly lifts weights - off your financial accounts, at least. And more than 10 years on, her team of bookkeeping "superheroes" has doubled, accounting for ...

The Spirit of Accounting
Chief accountants can be only as good as their staff. Traditionally, the cadre consists of commission regulars working alongside professional fellows from large accounting firms. That's fine, but the new chief accountant should follow the Financial ...

Edwin J. Kliegman, co-founder of accounting firms, dies at 89
It wasn't enough for certified public accountant Edwin J. Kliegman to co-found Marcum & Kliegman -- an accounting firm now called Marcum LLP -- in a small office space in Flushing, only to see it grow to become the 15th largest firm in the country. He ...

Hanergy fires back against report questioning accounting practices
Hanergy Thin Film Power (HTF) has lashed out against a recent news report questioning its accounting practices. Last week, the Financial Times reported that most of HTF's revenue since early 2010 has come from sales of PV equipment to its Beijing-based ...

Accountants As Wealth Managers
Accountants who effectively deliver wealth management solutions with a deep understanding of their clientele can dramatically, if not exponentially, increase profits at their firms. The accounting industry is under pressure, and this pressure is only ...

CFPB Accepting Comments on Rural Proposal; Accounting Clarification for ...
CFPB Accepting Comments on Rural Proposal; Accounting Clarification for ...

Pickett accounting firm names partner
Demuth said that despite the name and personnel changes, the accounting firm will still be offering the same services they always have — including income tax preparation, state and audit representation, payroll processing and reporting, and ...

MSU accounting students to offer free tax help starting Feb. 10
Accounting students from Montana State University's Jake Jabs College of Business and Entrepreneurship are offering free help preparing tax returns for MSU students and individuals who made less than $58,000 last year. The help sessions will be held on ...

FASB Proposes Changes in Accounting for Income Taxes
The updates pertain to intra-entity asset transfers and balance sheet classification of deferred taxes. FASB said they were part of its simplification initiative for reducing complexity in accounting standards. With regard to the first update, FASB is ...

CFMA Selects BKD As Principal Partner For Accounting And Related Services
PRINCETON, N.J., Feb. 2, 2015 /PRNewswire-USNewswire/ -- The Construction Financial Management Association (CFMA) has designated BKD as a Principal Partner for accounting and related services. For CFMA members, this partnership showcases ...

Art of Accounting: Don't Pass Up Opportunities
I have seen many accountants and others pass by—literally kicking aside—opportunities immediately in their path, and then they wonder when they will get their “big break.” What a shame for them. A great deal of my success has not been caused by ...

CSUSB accounting students offer free tax preparation
SAN BERNARDINO >> Nearly 60 students at Cal State San Bernardino who are majoring in accounting will offer free income tax preparation for eligible taxpayers Wednesday through April 11 at various locations throughout the Inland Empire. Tax preparation ...

Accounting firm picks Elm Street office tower
MANCHESTER — The accounting firm of Baker, Newman, Noyes has expanded to occupy the entire third floor of the Center of New Hampshire Office Tower, according to Cushman & Wakefield commercial brokers. The total lease at 650 Elm St. is now for ...

Rosneft changes forex accounting to avoid weak rouble hitting profits
MOSCOW Feb 3 (Reuters) - Russia's top oil producer Rosneft said on Tuesday it has changed the way it accounts for foreign exchange fluctuations, a move that avoids the cost of billions of dollars of debt hitting profits and depleting dividend payments ...

Human Errors: the Top Corporate Tax and Accounting Mistakes
Technology has taken the accounting profession to places likely never envisioned a half century ago, but it has yet to eliminate a fundamental problem: human error. The impact can be enormous. For instance, in 2013, U.S. businesses were hit with nearly ...

BP deepens capex cuts, surprises with Rosneft profit
BP's profit from the 19.75 percent Rosneft stake was boosted by a change in the Russian firm's foreign exchange accounting system. It was based on provisional numbers and could change. Several analysts had expected BP to report a fourth quarter loss of ...

Russian accounting changes soften the earnings blow at BP
However, the Russian company said in a statement Tuesday that it had made use of a provision in International Accounting Standards that allows it to change the way it accounts for swings in foreign exchange rates, effectively stripping out much of the ...

Rosneft Accounting Change After Ruble Slump May Boost Dividends
(Bloomberg) -- OAO Rosneft's change in the way it accounts for foreign-currency risk may boost the dividend of Russia's largest oil producer, in which BP Plc has a stake, analysts at UFS Finance Investment Co. and UralSib Financial Corp. said. The move ...

Practical ideas for better farm business accounting, part two
Last week we talked about the first steps needed to improve farm accounting. Now let's talk about the importance of accrual financial statements, where you are showing the true profitability of the business. In doing so, you have reported expenses only ...

What is Mobile? An Accounting Perspective
But social shifts don't necessarily make for straightforward revenue accounting practices, and so the IAB CFO Council and the Mobile Center collaborated on a brief survey of ad seller IAB members, asking them what they counted as “mobile” from a ...

Looking at the Growth in Accounting Master's Programs
What's often mentioned in passing is the possibility of prospective accountants needing a master's degree should he or she wish to pursue a career as a CPA. Obtaining a master's degree hasn't always been a key consideration for anyone pursuing the ...

Growth adds up for Northfield accounting firm
Capaldi Reynolds & Pelosi is a mature institution, an 80-year-old accounting firm whose chairman, Bob Reynolds, has been with the business for 57 years. But the company has been on a growth spurt lately, adding 26 new partners and staff members in 24 ...

AC Lordi Adds Valuation Services to Accounting and Advisory Offerings
MALVERN, Pa.--(BUSINESS WIRE)--AC Lordi, a leading provider of accounting and risk management consulting and executive search, announced today that it is adding valuation to its array of services. Andrew Wiest, who has more than 25 years of ...

FASB proposes two changes to simplify accounting for income taxes
FASB proposed two standards changes that are designed to reduce complexity in accounting for income taxes. For public business entities, the proposed changes would take effect for annual periods, including interim periods within those annual periods, ...

​Rosneft adjusts accounting policy to reduce currency risks
Rosneft, the world's largest oil company, has changed its system of accounting currency risks under IFRS rules to reduce income and dividend risks while the ruble is still highly volatile. Under the changes that became effective on October 1, 2014 ...

Budget sleuths: Obama relies on accounting tricks to pad numbers
The accounting steps essentially inflate the White House's “baseline” predictions of future deficits. Then the White House claims greater deficit savings than it otherwise could if it played by the budget rules followed by the Congressional Budget ...

Former Bridgeport accounting supervisor pleads to felony embezzlement, but ...
Former Bridgeport accounting supervisor pleads to felony embezzlement, but ...

These accounting firms are hiring in Charlotte
We recently surveyed the Charlotte area's accounting firms for our Top 25 list. The list comes out on Friday, but here's a sneak peak of the firms that are looking to add to their teams in 2015: Bernard N. Ackerman CPA is planning to hire staff ...

Finance and Accounting Skills Gap Vexes CFOs
“The survey results reveal large gaps between the competencies that organizations need to succeed and those that entry-level management accounting and finance professionals possess,” says the report, which defines “entry level” as having a bachelor's ...

Audit Watchdog Faces SEC Over Bid to Name Accountants
(Bloomberg) -- The main U.S. accountant regulator vowed to press forward with a controversial plan to name the auditors of public companies that has been the focus of a five-year battle with industry. The Public Company Accounting Oversight Board plans ...

SEC OKs PCAOB Budget and Accounting Support Fee
The PCAOB budget totals $250.9 million and will be mostly funded by the collection of an accounting support fee totaling $226.6 million and from under-spending in 2014 that will be available to fund the 2015 budget. To support the $226.6 million ...

SEC, Chinese Affiliates of Accounting Firms Near Settlement
The Securities and Exchange Commission and the Chinese affiliates of the Big Four accounting firms are close to settling a high-profile dispute that had threatened to complicate the audits and fundraising capabilities of dozens of Chinese companies and ...

Obama's claim of $1.8 trillion deficit cuts looks like accounting tricks
WASHINGTON (AP) — President Barack Obama's budget is relying on a series of familiar accounting tricks to show $1.8 trillion in deficit reduction over a decade, an amount that would shrink by almost half if they were excluded. But so-called "pay-go ...

Broadwind Energy settles with US SEC over accounting violations
WASHINGTON Feb 5 (Reuters) - Broadwind Energy will pay $1 million to settle civil charges over alleged accounting and disclosure violations that U.S regulators said kept investors in the dark about reduced business and a decline in the company's ...

Chicago-area alternative energy company charged for accounting and ...
Chicago-area alternative energy company charged for accounting and ...

Badger Meter earnings fall 5.9% on accounting adjustment
Badger Meter Inc. reported a 5.9% decline in fourth-quarter earnings, which were affected by an unusual item related to its acquisition of National Meter & Automation, the company said Thursday. The Brown Deer manufacturer of residential water meters ...

Mosby Expands Their Human Resource and Accounting Departments
Mosby Expands Their Human Resources and Accounting Departments. St. Louis firm sees 27% growth in 2014 possible, in part, by investing in HR & Accounting employees. After a year of growth, and plans for a stronger 2015, Mosby expands two key ...

Figuring Out Startup Accounting: Five Tips
Before starting your own company an accountant is an abstract concept - just people in box whose name was on your salary receipt. Having found a good one, we spoke with our accountants, Nordic C-Management about how startups should go about ...

These are Charlotte's largest accounting firms
This week's Charlotte Business Journal lists the area's largest accounting firms, ranked by number of local professional staff. Deloitte tops the list with 651 professionals in its local office. Among these professionals are 150 licensed CPAs. Ernst ...

Accounting for Ad Tech And Agencies
Accounting choices and financial disclosures can be an arcane topic even among the investor community. This is especially true in a sector where revenue momentum frequently drives valuations, as is the case with ad tech. These issues re-emerged for us ...

SEC, Big Four Accounting Firms in China Settle Dispute
The Chinese affiliates of the Big Four accounting firms agreed Friday to pay $500,000 each to settle a high-profile dispute with the Securities and Exchange Commission over their refusal to give the SEC documents about U.S.-traded Chinese companies ...

China Affiliates Of Big Four Accounting Firms To Settle SEC Charges For $500 ...
China Affiliates Of Big Four Accounting Firms To Settle SEC Charges For $500 ...

4 Accounting Firms' China Affiliates Agree to SEC Settlement
The Chinese affiliates of the Big Four accounting firms have agreed to pay a combined $2 million as part of a settlement with the Securities and Exchange Commission over their failure to produce documents from their audits of Chinese companies under ...

The List: Top 10 litigation support accounting firms in Orlando
Providing accounting analysis and support for attorneys representing companies, or families, who are involved in high-stakes legal disputes where assets may be hidden, fraud investigation, malpractice or valuable marital assets are at risk, Central ...

SEC sanctions China arms of Big Four accounting firms
WASHINGTON (MarketWatch) -- The four major accounting firms have been sanctioned by U.S. regulators for not turning over documents related to investigations of potential fraud. The Securities and Exchange Commission said the Chinese arms of Deloitte ...

Love of Small Business Fuels Patrick Accounting
Matthew Patrick is a CPA and managing member of Patrick Accounting and Tax Services PLLC, the firm he founded in 2003, but to get a better sense of what he does from day to day, he reaches for analogy to describe his work. Patrick doesn't see himself ...

Financial Execs Object to Proposed Changes in Accounting for Income Taxes
Financial Executives International has sent a letter to the Financial Accounting Standards Board taking issue with FASB's recent proposed changes in the accounting standards for income taxes. FASB recently issued an exposure draft of two proposed ...

Accounting students offer free tax assistance
CEDAR FALLS, Iowa —Accounting students at the University of Northern Iowa are providing free income tax assistance starting this week, the university announced. Other Stories. Second inmate charged with attempted... Roughly 46,000 bagel packages ...