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Accounting News 03/2015



Legacy Accounting and Tax Services LLC marks 10 years
Chris Blackerby opened Legacy in March 2005 to provide small business owners and individuals access to a CPA firm that would provide customized, professional accounting and tax services with a personal, neighborly approach. This all-women firm ...

8 Things You Should Never Say to Your Accounting Clients
Clients have long memories. They may forget appointments or the importance of sending you documents, but mess up just once and they never forget. It's easy to use the wrong words when rushed or in a heated discussion. Think first—and consider better ...

Accounting Degree Review Releases a Top 30 List of the Most Affordable ...
Accounting Degree Review Releases a Top 30 List of the Most Affordable ...

IMA Launches New IMA Accounting Honor Society (IAHS)
MONTVALE, N.J. — IMA (Institute of Management Accountants), the association of accountants and financial professionals in business, launched today the IMA Accounting Honor Society (IAHS), designed to recognize and honor academic achievement in the ...

American Realty Capital Shares Rise After Probe Results Released
Shares of American Realty Capital Properties Inc. rose 3% Monday after the real-estate investment trust said it had concluded its internal investigation into accounting irregularities. Last October, American Realty Capital Properties said it had made ...

How to Attract and Retain Your Hospital Accounting Staff
As the following article looks at, when it comes to addressing the effect of high turnover rates on medical accounting, the most effective way to keep employees is by hiring the right fit the first time around. This means your hospital might have to ...

Genworth Financial (GNW) Shares Hit Due to Material Weakness in Accounting
Genworth Financial (NYSE: GNW) discussed 'material weakness' in its accounting in a 10-K filing. The text from the filing is below. As discussed in “Part II—Item 9A—Controls and Procedures,” we have concluded that we did not have adequate controls ...

UPDATE 1-Genworth spots "material weakness" in controls over accounting
(Adds details, background, shares). March 2 (Reuters) - Life and mortgage insurer Genworth Financial Inc said it identified "material weakness" in its control over financial reporting, due to which it failed to spot a $44 million after-tax calculation ...

Glastonbury Accounting Firm Promotes Tax Lawyer
The Glastonbury accounting firm of Fiondella, Milone & LaSaracina LLP has announced the promotion of William B. Claffey to tax partner. In addition to serving as Director of State Tax Services, Claffey provides tax credit services to the firm's clients ...

Art of Accounting: Opportunities for You
As payback I offered to assist many accountants in a like fashion and my regret is the lack of success in that regard. Too few takers! Here are some opportunities for you that I am willing to assist you in. Just do what I suggest and contact me. I call ...

Accounting software company attracts $110 million in funding
The seven year-old company plans to use the funding in its bid to better compete against accounting software like Intuit Inc.'s QuickBooks to eventually become “the small business SaaS platform of choice for entrepreneurs” in the United States and the ...

Advanced Emissions Solutions Announces Financial, Accounting and ...
Advanced Emissions Solutions Announces Financial, Accounting and ...

Glenn Close on...accounting standards?
Actress Glenn Close is troubled by GAAP accounting and wonders how Warren Buffett can reconcile the conflict. My job, says Buffett is to determine if people are giving the honest numbers. About Us · Careers · Contact · Privacy Policy – UPDATED · Terms ...

Genworth Flags Material Weakness in Accounting
Life and mortgage insurer Genworth Financial disclosed Monday that it had failed to spot a $44 million after-tax calculation error because of a “material weakness” in its accounting controls. The error was connected to a review of long-term care ...

Accounting Students' CPA Passage Rate Ranks Seventh in the Nation
Accounting students in the Haslam College of Business are among the brightest in the state and the nation, according to the latest report from the National Association of State Boards of Accountancy. The accounting students ranked seventh among those ...

IMA launches new Accounting Honor Society (IAHS)
The Institute of Management Accountants (IMA), the association of accountants and financial professionals in business, launched the IMA Accounting Honor Society (IAHS) today, designed to recognize and honor academic achievement in the study of ...

It takes a planet: the whole cost accounting of climate change
What if it is true that it would cost less to resolve poverty than it does to sustain it? What if the same was true of the environmental crisis? Paul Krugman of The New York Times seems to think so. But he is “just” a brilliant economist. What if the ...

The 30 Most Affordable Accounting Masters Degree Programs
Going back to school to complete a degree or earn a higher degree can be challenging, particularly when a mid-career professional has the responsibilities or work and family. And then there's the cost. Accounting Degree Review ...

Accounting Students to Offer Assistance to Community at Tax Day Event
The Volunteer Income Tax Assistance (VITA) Mega Day on Saturday, March 7, will pair accounting students with community members in need of assistance preparing their returns. The third annual event will include a Family Resource Fair to provide ...

Accounting firm Ryan acquires tech capabilities, Fortune 500 clients with deal
Tax software company Second Decimal has been acquired by Dallas accounting firm Ryan for an undisclosed amount. Second Decimal's full suite of offerings includes tax calculation, certificate management and workflow software applications, according to a ...

UAB online accounting program ranked top in US
This Collat School of Business online program features the same award-winning faculty who teach in campus classrooms. In addition, UAB's online bachelor's accounting degree program allows students to roll credits directly to the master's in accounting ...

Accountants and Tax Preparers' Sales and Profits Adding Up
New data from Sageworks, a financial information company, show that sales for the accounting, tax preparation, bookkeeping and payroll services industry (NAICS 5412) have increased by 8.8 percent on average in the last 12 months. That's stronger than ...

ARGI makes key acquisition to beef up accounting services
ARGI announced Tuesday it has acquired Louisville-based OPM Financial LLC, an accounting and financial services outsourcing firm that was co-founded and previously owned by Kent Oyler and Chuck Woods. It was founded in 2012 and describes itself as ...

TechSoup-Intuit Partnership Provides Churches and Religious Nonprofits with ...
TechSoup-Intuit Partnership Provides Churches and Religious Nonprofits with ...

Suffolk has $640K dilemma with accounting software
The plan was for the many sources of billing and revenue to flow through the new system and communicate automatically with the city's financial-accounting software. But the system's inability to connect with the general ledger - the city's master ...

Genworth finds problems with internal accounting
Henrico County-based insurer Genworth Financial Inc. said it found problems with its internal accounting linked to the company's review of its long-term care insurance claim reserves. The “material weakness” in its accounting resulted in a $44 million ...

Zervant raises €1.5 million to make accounting easier for SMES
Zervant announces today that it has raised €1.5 million to help expand its invoicing and accounting platform outside of the home Scandinavian market with a target set on Germany and France. The funding came from Conor, the Helsinki-based VC with €70 ...

Wolf proposes sales tax for legal and accounting services, cable TV
In his first budget address, Gov. Tom Wolf announced plans for sweeping fiscal changes — including raising the sales tax from 6 percent to 6.6 percent. But it's a change in exactly what products and services are subject to the sales tax that's sure to ...

Sebi rejigs panel on disclosures, accounting standards
The committee is further mandated to ensure "smooth implementation of accounting standards, statements, guidance notes and studies evolved by the Institute of Chartered Accountants of India (ICAI) to the extent that it pertains to disclosures in the ...

Local accounting firm PBMares to merge with Baltimore company
Henrico County-based accounting firm PBMares LLP is merging with TMDG LLC, an accounting firm from Baltimore. TMDG will become a subsidiary of PBMares, which will retain Alan S. Witt as its CEO. TDMG will continue to be run by Matt Dubnansky, the ...

Ultimate Accounting vCon
The Ultimate Accounting vCon, the longest running virtual accounting conference in the industry, will be held May 7-8, 2015. Over 350 accounting professionals and exhibitors will attend webinars, enter to win prizes, meet peers in a networking chat ...

Accounting and Payroll Clerk
Metropolitan Area Planning Council (MAPC) seeks an Accounting & Payroll clerk to work at our innovative, mission-driven public agency (3 days per week). Primary Duties: Process biweekly payroll and benefits transactions, including leave time and a wide ...

30 Master's Degree Programs for Accounting Students That Cost Under $25500
Ogden, Utah-based Weber State University topped a new list by Accounting Degree Review of the 30 most affordable accounting schools for a residential master's degree this academic year. For its latest affordability rankings, Accounting Degree Review, ...

Rosneft Posts Profit as Accounting Change Mutes Ruble Impact
(Bloomberg) -- OAO Rosneft reported a fourth-quarter profit after the world's largest traded oil company by output changed accounting methods, helping avert the losses recorded by other Russian producers. Net income rose to 89 billion rubles ($1.43 ...

Why CFOs Need to Care About Accounting
The Securities and Exchange Commission is on a mission — gunning for instances of accounting fraud. For the first time since 2007, the SEC's enforcement actions against companies alleged to have cooked the books is higher than the previous year, ...

Official: Water accounting worth $1 billion over 50 years
The Supreme Court however, agreed with Nebraska that RRC accounting must correct the way Nebraska's water account has been charged for seepage into the Republican basin from the Platte River basin. The high court ruled that it is wrong to define Platte ...

Tonight's Winter Storm Warning Goes Out To Beth In Accounting
Come on down here, Beth, you know you can't hide! Where's Beth? Seriously Beth, we will find you and drag you out onto winter's dance floor if you don't—ah, there she is! Beth who just LOVES winter, remember how she said that back in December when all ...

Wolf budget: Sales tax on legal, accounting, funeral home services raises ...
Wolf budget: Sales tax on legal, accounting, funeral home services raises ...

UPDATE 2-Noble Group promises more transparency after attack on accounting
The Singapore-listed group, one of Asia's biggest commodity traders, has seen $1 billion wiped off its market value since Iceberg Research said last month Noble's accounting methods inflated the value of its assets - a claim Noble has rejected and ...

UAB online accounting program No. 1 in US per Best Schools site; Auburn ...
UAB online accounting program No. 1 in US per Best Schools site; Auburn ...

Crime-fighting accountants? New specializations are changing long-held ...
Crime-fighting accountants? New specializations are changing long-held ...

Noble Group Disputes Accusations of Accounting Irregularities
SINGAPORE—Commodities trader Noble Group Ltd. on Thursday issued a detailed defense against accusations of accounting irregularities made by a little-known entity called Iceberg Research, and suggested a former employee who was fired for ...

FASB Proposes Accounting Standards Change for Nonprofits
The Financial Accounting Standards Board voted Wednesday to issue a proposed accounting standards update to improve the financial statements for not-for-profit organizations and ask for public comments. The goal is to enhance the usefulness of the ...

Accounting Today lists Rehmann CEO Steven Kelly among nation's top 10 ...
Accounting Today lists Rehmann CEO Steven Kelly among nation's top 10 ...

Common Misconceptions about Selling an Accounting Firm
Selling an accounting practice is a once-in-a-lifetime experience for most practice owners. There is much time, energy and money invested in an accounting practice, so finding the right buyer is crucial. Since it is such a rare event, sellers should be ...

Dynamic Materials (BOOM) Cites Accounting Errors for Delay of Q4, FY14 Report
During the year-end audit process, the audit committee of the board of directors, after review and discussion with management and the Company's independent registered public accounting firm, Ernst & Young LLP ("EY"), determined the Company incorrectly ...

Eric Sowatsky of Yeo & Yeo Completes Mark-to-Market Grain Accounting Course
SAGINAW, Mich. , March 6, 2015 /PRNewswire/ -- Yeo & Yeo CPAs & Business Consultants is pleased to announce that Eric J. Sowatsky , CPA, CGMA, has completed the Mark-to-Market Grain Accounting course administered by White Commercial ...

How three South Florida accounting firms used rebranding to streamline their ...
How three South Florida accounting firms used rebranding to streamline their ...

Accounting firm aims to promote more women
Gordon Krater, Plante Moran's managing partner, seeks to be a good steward of the metro Detroit accounting firm that he leads — and eventually leave it a little better than he found it. One improvement Krater wants to make: Putting more women in ...

David Locey's daughter takes ownership of accounting firm
Upon graduation from Sturgis High School in 1979, Bontrager earned a Bachelor of Science in communications from Central Michigan University, as well as a Bachelor of Science in business administration/accounting and a Master's of Business ...