Home > Accounting News

Accounting News 06/2015



Accounting Firms Often Fail To Leverage Their Relationships In Their ...
Accounting Firms Often Fail To Leverage Their Relationships In Their ...

Hertz's Accounting Disaster: The Long-Term Effects (HTZ)
Over the past few months, Hertz Global Holdings, Inc. (NYSE:HTZ) has encountered some severe difficulties and setbacks in regards to its accounting practices. In June of 2014, the company filed an 8-K form stating that its Audit Committee had found ...

Paragon Offshore Names Alejandra Veltmann As Vice President - Chief ...
Paragon Offshore Names Alejandra Veltmann As Vice President - Chief ...

Accounting Cloud Partners with CompareAccountingSoftware.com
PALM HARBOR, Fla., June 1, 2015 /PRNewswire/ -- Accounting Cloud LLC, an Authorized Business Partner for Intacct, has partnered with a new accounting comparison web site: CompareAccountingSoftware.com. The relationship will allow users of the web ...

Accounting For Success
It seems like common sense, if not natural symmetry, that financial advisors and certified public accountants would have a symbiotic relationship when it comes to serving the same clients—advisors do the planning stuff, CPAs do the tax stuff, and ...

FASB Proposal Aims to Make Accounting for Business Combinations Less ...
FASB Proposal Aims to Make Accounting for Business Combinations Less ...

Art of Accounting: My 'Brand' is the Exciting History of Accounting
This has been done many ways since 1998, including labels picturing Luca Pacioli, the father of accounting, and Rodrigo Sanchez, the accountant hired by Queen Isabella to accompany Columbus on his first voyage. I attached the images to every client ...

Tech Firms Fret over Looming Revenue Accounting Changes
Amid a list of risks to the company's growth strategy and competitive position, chip-maker Intel Corp.INTC +1.32%, for example, said in its latest annual report in February that changes in the way it applies accounting policies could be material to its ...

The Inland Real Estate Group, Inc. Names New Chief Accounting Officer
Bodhanwala most recently served as vice president of accounting for CA Ventures, LLC, a real estate development firm, where he was responsible for all accounting, tax, accounts payable, accounts receivable and payroll. Under his leadership, the company ...

Companies with narcissists for CEOs tend to use shadier accounting practices
They found that increased narcissism went along with higher levels of discretionary accruals, or accounting tricks unrelated to the underlying state of the business used to improve how earnings look. High levels of discretionary accruals are often ...

[Archives] Quality Accounting Information In Politically Connected Firms
Instead, our results suggest that, because of a lesser need to respond to market pressures to increase the quality of information, connected companies can afford disclosing lower quality accounting information. In particular, lower quality reported ...

CSC Dealt Huge Break By SEC In Accounting Fraud Case: Report
It first gained traction in 2011, when the solution provider hired law firm Cadwalader, Wickersham & Taft to carry out an internal investigation on the accounting fraud accusations -- the results of which were turned over to the SEC. The SEC then ruled ...

As Texas dries out, accounting of damage begins
Flood waters from the swollen Trinity River surround a roadway in Dallas. (Smiley N. Pool/The Dallas Morning News). From flood-ravaged homes to cars caught in high water to roadways littered with downed trees, state and local officials are trying to ...

Mexico Regulator Said Probing OHL Unit Accounting Since 2014
Mexican regulators began looking into OHL Mexico SAB's accounting practices last year and were moving to formally investigate the tollway operator before allegations of executives discussing bribing officials surfaced last month on YouTube, according ...

Accounting for Inertia in Geopolitical Forecasting
Geopolitics, at least in the sense that we practice, is neither deterministic in its approach to understanding nations and their interactions nor simply synonymous with current events or international relations. At its most basic, geopolitics as a ...

The Importance Of Talent Management In An Accounting Firm-Base Family ...
The Importance Of Talent Management In An Accounting Firm-Base Family ...

Meriden council puts off filling of accounting director vacancy
MERIDEN — The hiring of an accounting director will be postponed after some city councilors requested more information about the position. Councilors voted 9-2 Monday night to postpone authorization to begin the process of filling a soon-to-be vacant ...

How Online Form Builders Help Accounting Firms
Accountants work with forms, data, and spreadsheets all day. They're experts at taking piles of papers, and processing and consolidating them down to a final balance sheet or report. Sometimes this involves using automated systems; sometimes it's an ...

What Accountants Should Know about Life Insurance Policy Evaluations
As accountants pay increased attention to evaluating the performance of a client's life insurance portfolio, life insurance is becoming recognized as a “buy and manage” asset rather than as a “buy and hold” asset. If an insured person's policy has ...

7 Tips on How to Do Accounting For a Kickstarter Campaign
But before you sign up on Kickstarter, before you launch your campaign and start tossing your “free money” into the air, it's important to know the ins and outs of the accounting processes and the tax implications related to crowdfunding as a business ...

Accounting Rule to Force U.S. Cities to Report Health-Care Bills
U.S. state and local governments will have to report billions of dollars in health-care liabilities on their balance sheets under an accounting change aimed at improving disclosure of retiree benefits. As a result of rules approved Tuesday by the ...

Weslaco audit highlights finances; travel, accounting 'deficiencies' detailed
Regarding accounting, auditors identified problems in the department having a completed general ledger and “strongly” recommending the “completion of a monthly financial statement review checklist on a monthly basis with a date of no later than the ...

Vail Resorts Announces Chief Accounting Officer Mark Schoppet's Planned ...
Vail Resorts Announces Chief Accounting Officer Mark Schoppet's Planned ...

CCH ® IntelliConnect Browser Search Named Finalist in Prestigious Tax ...
CCH ® IntelliConnect Browser Search Named Finalist in Prestigious Tax ...

IRS Issues New Guidance on FBAR Penalties
IRS examiners can recommend a penalty that is higher or lower than 50 percent of the highest aggregate account balance of all unreported foreign financial accounts based on the facts and circumstances, according to the guidance, but in no event will ...

Falbo elected president of state accounting society
He will lead the state group as it seeks to grow its two-year-old NextGen program to develop more younger accountants. He previously served the state organization as president-elect, vice president, secretary/treasurer and a member of the Executive ...

North Central College Accounting Professor David Gray Honored with 2015 ...
North Central College Accounting Professor David Gray Honored with 2015 ...

T. Rowe Price to outsource fund accounting, administration to BNY Mellon
BNY Mellon is expected to hire the 220 T. Rowe Price employees who worked in accounting services, BNY Mellon said in a news release. The transfer will occur in August. The move was made in response to “ongoing business, technology, and regulatory ...

Gogo (GOGO) Accounting Chief McShane Resigns; Appointee Named
On June 1, 2015, Gogo Inc. (the “Company”) hired Michael Bayer, age 46, as its Senior Vice President, Controller and Chief Accounting Officer. Thomas E. McShane resigned as Vice President, Controller and Chief Accounting Officer of the Company ...

Audit: Village of Owego needs accounting overhaul
The report recommends that the clerk-treasurer maintain separate accounting records and disbursement accounts for each fund, reconcile all cash balances in the accounting records to bank balances monthly, and maintain documentation of those ...

Xero Introduces New Innovations for Small Businesses and Accounting ...
Xero Introduces New Innovations for Small Businesses and Accounting ...

Flow Account helps small business owners do accounting in the cloud
Small business owners know how vital it is to manage their finances to ensure success. Yet accounting is a huge challenge, especially since the owners are often the ones keeping the books. With this in mind, Flow Account offers an easy cloud-based ...

How Accounting Firms Short Change Themselves When Providing Wealth ...
How Accounting Firms Short Change Themselves When Providing Wealth ...

Bonadio recognized as top accounting firm for women
The Bonadio Group is once again one of the leading public accounting firms for female CPAs who want to climb the professional ladder, according to a new report released this week by the Accounting & Financial Women's Alliance and American Women's ...

Can You Trust Prospect Capital's Accounting?
For the quarter ended in March, Prospect Capital Corporation (NASDAQ: PSEC) reported net investment income of $0.24 per weighted-average share -- slightly lower than its monthly payouts, which total $0.25 per share per quarter. It was a slight miss in ...

Twitter (TWTR) Appoints New Chief Accounting Officer
Effective June 1, 2015, Twitter, Inc. (“Twitter” or the “Company”) appointed Robert Kaiden, 48, as its Chief Accounting Officer. From 1989 to May 2015, Mr. Kaiden served in several roles at Deloitte & Touche LLP, a national auditing firm, including as ...

LexisNexis Unveils Tax Research Portal
LexisNexis has introduced Lexis Advance Tax, a specialized research portal providing news and analysis to accountants, tax and estate attorneys, government tax professionals and other tax practitioners. The online research service includes laws ...

Gordon Lee the Chief Accounting Officer of Twitter Inc (NYSE:TWTR) Sold 1293 ...
Gordon Lee the Chief Accounting Officer of Twitter Inc (NYSE:TWTR) Sold 1293 ...

Time limit for an estate accounting
Estates can be left open for a long time. Like decades long. And during that time, an executor is going to continue to owe certain fiduciary duties to the beneficiaries of the estate, such as the duty to provide an accounting to the beneficiaries. In ...

Ingersoll Rand Names New Chief Accounting Officer
SWORDS, Ireland--(BUSINESS WIRE)--Chris Kuehn joins Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, as vice president and chief accounting officer, effective immediately. Kuehn will serve as ...

Ingersoll Rand Names New Chief Accounting Officer
SWORDS, Ireland, Jun 05, 2015 (BUSINESS WIRE) -- Chris Kuehn joins Ingersoll-Rand plc IR, +0.00% a world leader in creating comfortable, sustainable and efficient environments, as vice president and chief accounting officer, effective immediately ...

Ingersoll-Rand (IR) Taps Whirlpool's (WHR) Kuehn as Accounting Chief
Chris Kuehn joins Ingersoll-Rand plc (NYSE: IR) as vice president and chief accounting officer, effective immediately. Kuehn will serve as the company's principal accounting officer and be responsible for strategic leadership and oversight of financial ...

Ingersoll Rand Names Chris Kuehn As Chief Accounting Officer - Quick Facts
Kuehn will serve as the company's principal accounting officer and be responsible for strategic leadership and oversight of financial reporting, operational finance and technical accounting. Most recently, Kuehn served as vice president, corporate ...

Twitter Inc Appoints Former Deloitte Executive As Chief Accounting Officer
Twitter Inc (NYSE:TWTR) disclosed in a regulatory filing Thursday evening that it has appointed Robert Kaiden as the company's chief accounting officer, effective June 1, 2015. Mr. Kaiden previously served at Deloitte & Touche LLP, where he assumed ...

New regs for Monday: 9/11 health coverage, medical devices, accounting ...
New regs for Monday: 9/11 health coverage, medical devices, accounting ...

Computer Sciences, execs hit with fraud charges
The U.S. Securities and Exchange Commission on Friday charged Computer Sciences and former executives with accounting fraud. The company has agreed to pay $190 million to settle the charges, but the executives will neither admit nor deny the charges ...

CSC to Pay $190M to Settle Accounting Fraud Charges
The SEC alleges that CSC's accounting and disclosure fraud began after the company learned it would lose money on the NHS contract because it was unable to meet certain deadlines. To avoid the large hit to its earnings that CSC was required to record, ...

Inland Real Estate Group welcomes Prashant Bodhanwala as chief accounting ...
Inland Real Estate Group welcomes Prashant Bodhanwala as chief accounting ...

Former Deloitte Italy CEO Appointed to Audit Vatican
Milone, 66, was born in the Netherlands, according to Reuters, and has worked at major accounting firms in the U.S., the United Kingdom and Italy. He also worked as an auditor at the United Nations World Food Program in Rome, the Italian carmaker Fiat ...

Costs Rise for Companies Seeking Accounting Talent
Costs associated with the finance and accounting function are increasing for many companies as the talent shortage intensifies, according to a new report. The study, from the staffing company Robert Half and the Financial Executives Research Foundation ...