Home > Accounting News

Accounting News 05/2016



Accounting firms target younger recruits
With the accounting industry in a growth spurt right now, though, regional firms in particularly competitive markets like Northeast Ohio's are striving to attract the brightest young students as they vie for staff against not only their peers, but the ...

How the cloud can help your small business afford...
How the cloud can help your small business afford...

A Major Accounting Question For Valeant Pharmaceuticals
Valeant Pharmaceuticals (NYSE:VRX) CEO Mike Pearson has been in the news for all the wrong reasons lately. Here's another to heap onto the ever-growing pile. For the past few months, Valeant's management has been battling accusations of misleading ...

Assistant Manager/Facilities Manager/Forensic Accounting: Who's Hiring in the Ocean City Area?
Looking for a job? Check here to see what's available in the Ocean City area. Ocean City, NJ. By Anthony Bellano (Patch Staff) - May 1, 2016 4:01 pm ET. ShareTweetGoogle PlusRedditEmailComments0. Assistant Manager/Facilities Manager/Forensic ...

Farmer workshop on accounting software packages
Gone are the days are when accounts and bank statements were produced to an accountant in a shoebox as more farmers are using the on-line accounting package Cashmanager​, says its developer. Brian Eccles said he had 40 staff in the Wairarapa head ...

Bahrain's Alba cites accounting changes as Q1 profit falls 89 pct
DUBAI May 2 (Reuters) - Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, reported a 88.6 percent fall in first-quarter net profit on Monday as a result of changes to its accounting standards. Alba's net income for the ...

A. Schulman to Create U.S. Accounting and Shared Service Center of Excellence
AKRON, Ohio, May 2, 2016 /PRNewswire/ -- A. Schulman, Inc. (Nasdaq: SHLM), a leading international supplier of high-performance plastic compounds, powders and resins, announced today plans to create an Accounting and Shared Service Center of ...

Accounting News Roundup: Talent Wars and PwC's Secret Deal with LuxLeaks Whitsleblower | 05.02.16
The war metaphor for recruiting seems a little dramatic. Are recruiters engaging in jousts over BYU candidates? Has anyone seen regional firms preparing for a siege outside their nearest Big 4 stronghold? I think not. However, employers of all kinds ...

Accounting News Roundup: Talent Wars and PwC's Secret Deal with LuxLeaks Whistleblower | 05.02.16
Another is quoted, “It's about getting in front of candidates early due to the number of opportunities presented to accounting students.” Even EY's campus recruiting partner for Northeast Ohio says, "[T]he war for talent is real," and the firm offers a ...

SEC Charges Accounting Firm With Conducting Deficient Surprise Exams
The U.S. Securities and Exchange Commission (SEC) recently announced that an accounting firm and one of its partners who conducted surprise examinations of client assets at an investment adviser have agreed to settle charges that they performed ...

State audit finds concerns with data security, accounting practices in Ozark County
JEFFERSON CITY, Mo. Missouri State Auditor Nicole Galloway on Monday released an audit of Ozark County. The audit report describes weaknesses in cybersecurity measures and accounting practices in several county offices. Some offices lacked sufficient ...

The Spirit of Accounting
This column is prompted by the fact that voting is now underway on the American Institute of CPAs' proposed de facto merger with the Chartered Institute of Management Accountants. Our January column (“Transparency, integrity, prophecy and the AICPA ...

PRINCETON: Council uses accounting gimmicks, not spending cuts, to increase budget surplus
Princeton officials, concerned about the long-term fiscal health of the town, will move money around the proposed $61.9 million budget to increase its surplus, or municipal savings, fund for next year. The Princeton Council is due to adopt the budget ...

CNA profit hit by accounting charge
CNA Financial Corp. reported lower profit for the first quarter on Monday, but an improved combined ratio in its property/casualty operation, due in part to an accounting charge. The company reported $66 million in net income in the first quarter vs ...

FASB Readies Nonprofit Accounting Changes
The Financial Accounting Standards Board is expected to release a scaled-back set of changes in accounting standards for nonprofit organizations this summer, with more far-reaching changes planned for the future, probably depending on whether they can ...

The Management Accounting Profession Will Double by 2024 - Are We Prepared?
The skills needed to succeed in management accounting extend well beyond audit, compliance and reporting to include financial planning and analysis, merger and acquisition activity, strategic cost management and more. According to a survey, most ...

Air New Zealand changes accounting for Virgin Australia stake up for sale
Air New Zealand has stopped equity accounting for its stake in Virgin Australia after placing all or part of its 25.9 per cent holding in the Australian carrier up for sale in a process that has attracted the attention of Chinese airlines. In an ...

Infrastructure & Business Finance – Accounting Layer Key Motivator
The Financial Accounting Standards Board or “FASB” is a private, non-profit organization whose primary purpose is to establish and improve accounting principles within the United States in the public's interest. The International Financial Reporting ...

What The World Needs Now: Sustainability Accounting Standards
“The new SASB standards allow us—for the first time—to identify and measure exposure to climate risk across companies and industries. Climate change affects all markets and presents risks that investors can no longer ignore. The standards help them ...

New Thomson Reuters Solution Features Tax & Accounting Marketing Content Designed for Social Media
Social Media Solutions from Thomson ReutersCheckpoint Marketing for Firms help tax and accounting professionals showcase their thought leadership and expertise while connecting with clients and prospects via social media. According to a recent survey ...

Voodoo Accounting: Charter Schools And The State School Aid Formula
As we've read before on these pages, voodoo public policy begets voodoo economics which begets voodoo accounting. In the Dispatch story, Sen. Peggy Lehner, the chair of the Senate Education Committee, confirmed the perfidious nature of state school ...

Accounting News Roundup: An AICPA Takedown and KPMG Losing Hershey's | 05.03.16
As we mentioned a few weeks ago, voting on the merger-ish event of the AICPA and CIMA is currently underway. At the time, we noted the full-throated opposition by professors Paul Miller and Paul Bahnson that didn't pull any punches on the AICPA or the ...

Small Business Week Guide to Accounting and Finance #DreamSmallBiz
Few things are going to change as quickly for small businesses in the coming year as accounting and finance. With accounting quickly migrating to the cloud and accounting software being infused with artificial intelligence (AI), small businesses will ...

Finance 2.0: How Finance Can Deliver Value in a Changing Environment
Since the majority of accounting professionals work, full-time or in a consultative capacity, for organizations, you would think that process improvement, standardization, and leveraging technology would be top priorities for accounting professionals ...

House Panel Reiterates Demand For Mountain Of Docs From Fetal Harvesting Firm
The House panel investigating the fetal tissue industry is demanding StemExpress — a firm that harvests aborted fetuses — turn over what amounts to every accounting or banking document it has ever produced, along with a wealth of communications ...

Economic Earnings Provide Better Measure Of Performance Than Accounting Profits
Economic earnings represent the true earnings for shareholders and are very different from accounting earnings. GAAP accounting data was not originally designed for equity investors, but for debt investors. To derive economic earnings, 30+ adjustments ...

Accounting giant KPMG defends Isle of Man tax practices before House committee
OTTAWA — A senior partner in the global accounting giant KPMG, which has been accused of being behind a tax avoidance scheme in the Isle of Man, says a lot of international tax rules “are broken” — and they need to be fixed. Gregory Wiebe, speaking ...

NCCC accounting teacher retires
Accounting Instructor and Applied Sciences chair at Neosho County Community College, Jones is retiring after 31 years. She had taught a few years as an adjunct before coming on full time. Technology has driven many of the changes in accounting and ...

IT, accounting professionals have highest pay in 2016: Salary guide
The accounting sector grew by S$1.8 billion in 2015, owing to the Singapore Committee to Develop the Accountancy Sector's (CDAS) push to develop the industry into a hub for the Asia Pacific region by 2020. Salaries range from S$10,000 to S$20,000 for ...

Accounting Giant Deloitte Partners with Five Blockchain Startups
Deloitte has announced that it is working with BlockCypher, Bloq, ConsenSys, Loyyal (formerly Ribbit.me) and Stellar to provide new blockchain solutions to its clients. The giant accounting firm is in the process of creating twenty prototype ...

$750000 gift will boost Accounting faculty
St. Mary's University has received a $750,000 gift from the Elizabeth Huth Coates Charitable Foundation to endow the Ed Boyle Accounting Professorship. The funds will be solely devoted to recruiting or retaining a full-time, tenure-track faculty member ...

UB accounting student sets the standard
Schon was one of seven students nationwide selected for a postgraduate technical assistantship with the Governmental Accounting Standards Board (GASB), which establishes accounting and financial reporting standards for U.S. state and local ...

EisnerAmper, Haynie & Co. Lead in Q1 SEC Clients
Semiconductor and related device manufacturer Marvell Technology Group was a big contributor in the first category, accounting for $7.92 billion of the Big Four firm's $19 billion in new market cap audited, while natural gas distribution, marketing and ...

The New York Times uses the same accounting techniques the paper critiques
Morgenson, in her column, cited a recent study in The Analyst's Accounting Observer that says 90% of companies in the Standard & Poor's 500-stock index reported non-GAAP results last year, up from 72% in 2009. Morgenson said she can not comment on ...

ADP Finds Private Sector Added 156000 Jobs in April
The professional and business services sector, which includes accounting and tax preparation along with other services, gained 27,000 jobs in April, down slightly from 31,000 in March. The combined trade, transportation and utilities sector grew by 25 ...

Economic Earnings: The Antidote To Accounting Profits
Economic earnings represent the true earnings for shareholders and are very different from accounting earnings. Economic earnings are better than accounting earnings for 3 main reasons, which we identify below. If a company is not generating positive ...

FASB Updates Accounting Standards for Stock-Based Awards
The Financial Accounting Standards Board (FASB) has issued updated accounting standards designed to simplify accounting for stock-based awards. Among other changes, the updated standards permit employers to withhold stock for tax purposes upon ...

Californian accounting breached tax and PII info exposed
The accounting and tax firm Lafler, Moore, Connerty & Webb reported to the California Attorney General that the company's computer system was accessed by an unauthorized person resulting compromising its stored W-2 information. The illegal access was ...

Lecturer in Accounting, Business or Finance
To further develop our current teaching and research activities at Essex Business School, we are seeking to make an additional appointment in the field of Accounting, Business or Finance. This appointment will play a vital role in enhancing the School ...

Mahama fulfilling NDC Manifesto with accounting tour – Gov't
Minister of Communications Dr. Edward Kofi Omane Boamah in an interview with Paul Adom Okyere on Metro TV's Good Evening Ghana talk show has revealed that President Mahama is fulfilling the Manifesto of the NDC through his Accounting to the ...

Blackstone Valley Chamber of Commerce to host accounting class
The Blackstone Valley Chamber of Commerce will offer “Dude! Where's My Profit?” from 5:30 to 8:30 p.m. May 10 and 17 at the Grafton Municipal Center, 30 Providence Road, Grafton. The accounting class students will learn to construct the “big picture;” ...

Accounting Firm Associations Allinial and IAPA to Combine
The combination would create an entity with 300 members in 79 countries with annual fee revenue of over $2.6 billion, making it the third largest association of independent accounting and consulting firms in the world. Allinial Global's president and ...

St. Mary's University, Texas receives $750K donation towards accounting professorship
St. Mary's University, Texas announced this week that the school has received a $750,000 gift from the Elizabeth Huth Coates Charitable Foundation to fund the newly-minted Ed Boyle Accounting Professorship. The donation will be exclusively devoted to ...

AICPA and Junior Achievement Launch Online "Accounting Career Guide"
COLORADO SPRINGS, Colo., May 5, 2016 (GLOBE NEWSWIRE) -- The American Institute of CPAs (AICPA) and Junior Achievement USA today announced the launch of a new online "Accounting Career Guide," hosted on Junior Achievement's JA My Way ...

Accordion Partners taps ex-Viacom exec to lead new accounting practice
Finance consulting firm Accordion Partners launched their Financial Accounting & Advisory Services (FAAS) practice, to provide operational accounting, performance improvement and technical accounting support. Rich Medor, formerly an operational ...

Expensify and Xero Announce a Global Strategic Partnership and Offering for Accounting Firms
MAUI, Hawaii--(BUSINESS WIRE)--Today, Expensify, the fastest growing expense reporting software worldwide, announced that Xero, a worldwide leader in cloud accounting software, has teamed up with Expensify in a global strategic partnership. The pair ...

SEC To Wall Street: No More Non-GAAP Accounting... For Real This Time
The SEC says it's finally cracking down on non-GAAP accounting. Wall Street companies have been using non-GAAP accounting since the 1990s. Now, only a couple of decades after it appeared, the SEC is springing into action to nip this non-GAAP fad in ...

Higher Ed Associations Pushing for More Accurate Graduation Rate Accounting
050615_Grad_Rates When Rodrick McKee graduates from Lane College this July with a bachelor's degree in physical education, his graduation won't count in the school's federally reported graduation rate. That's because McKee—a former starting ...

Toshiba Announces New Chief Executive After Accounting Scandal
TOSYY -3.54 % announced a new chief executive Friday, as the Japanese electronics giant looks to put itself on a new footing after suffering an accounting scandal last year. Sixty-year-old Satoshi Tsunakawa, an executive vice president and Toshiba ...

ZipBooks wants to shake up the accounting software market by helping customers collect cash
The accounting software industry is, contrary to what you might think, a pretty interesting place. Characterized by three large vendors that hold the lion's share of the market in their respective geographies, until recently it has been a fairly ...