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Accounting News 08/2016



Fort Hays State general accounting program to be offered online this fall
HAYS - Starting this fall, students who want to begin earning a Bachelor of Business Administration degree in general accounting can start their course work through the Fort Hays State University Virtual College. Fort Hays State will be one of the few ...

Diamond Resorts delays release of results because of accounting questions
Diamond Resorts International Inc. DRII, -1.76% said Monday that it will delay the release of second-quarter results, after the vacation destination company's independent accountant raised questions about accounting practices. The accountant, BDO USA, ...

Accounting News Roundup: Non-CPA Managing Partners and Bad Accountant: Caught on Tape! | 08.01.16
Does the managing partner of an accounting firms need to be a CPA? If we assume that a managing partner's duties include setting the overall vision and running the day-to-day operations of the firm, I think the answer is, "No." If we also assume that a ...

Data Management: The Intersection of Tax and Technology
While technology is increasingly vital in corporate tax departments and for the accounting specialists who serve those organizations, most companies are swamped with tax-related data flowing from growing global trade, as well as from mobile, Internet ...

Philadelphia-area accounting firm opens Lehigh Valley office
SOUTH WHITHEALL TOWNSHIP -- A Philadelphia-area accounting firm has opened its first Lehigh Valley office. Kreischer Miller of Horsham, Montgomery County, said Monday it has opened at the Westfield Corporate Center, 4905 W. Tilghman St., Suite 230 ...

Art of Accounting: Making Sonny Look Good | Accounting Today News
I have a client who owns considerable real estate that her son manages. The son actually does a very good job maintaining the property, growing rents, and ...

IA & IL Accounting for Smaller % of Row Crop Output
No wonder that current USDA crop ratings of corn and soybeans are at 22 year highs, among the best since 1986 fueling talk that U.S. yields of both will be record high this season with both states accounting for a large portion of total bushel output ...

Addison-based accounting network joins professional services firm
CliftonLarsonAllen announced today that Addison-based accounting firm CPWR LLP CMA has joined their firm, strengthening the company's professional services presence in DFW to more than 130 employees. “Our clients won't see a lot of change in our ...

AMC Networks Appoints Christian Wymbs as Chief Accounting Officer
In his role, Mr. Wymbs will be responsible for managing the Company's corporate accounting, financial reporting and tax functions and will report to Sean Sullivan, Executive Vice President and Chief Financial Officer for AMC Networks. Mr. Wymbs will ...

Scholarship Spotlight: Accounting student's passion earns BCA scholarship
“If organizations like Black Colleagues Association didn't exist, I wouldn't have any scholarship money. I felt like with big corporations, you just get overlooked. I got a bad attitude about it, I wasn't getting anything, and felt it was all a waste ...

IASB pressed to fix 'wishy-washy' accounting rules
Australian officials have called on the international accounting standards setter to fix "wishy-washy" language that is injecting ambiguity into financial reports. The proliferation in international accounting standards of terms like "probable ...

Finding Top Accounting Firms Is Easier With the Best of Accounting(TM) Award
PORTLAND, OR--(Marketwired - August 02, 2016) - Inavero, a leading provider of client service quality research for accounting firms, announced the 2016 Best of Accounting Award winners today on BestofAccounting.com. This is the premier online source to ...

Accounting Principals Unveils Transformed Website
JACKSONVILLE, Fla., Aug. 2, 2016 /PRNewswire/ -- Accounting Principals, a leader in finance and accounting staffing, today announced expanded digital offerings with the official launch of its revamped website, AccountingPrincipals.com. The reenergized ...

What is Forensic Accounting?
As a forensic accountant you can combine accounting and investigative skills to assist law enforcement officials and attorneys in a wide range of prosecutions and investigations. Forensic accountants work for attorneys and law enforcement agencies, ...

Trees on farms: The missing link in carbon accounting
However, trees on agricultural lands are not considered in the greenhouse gas accounting framework of the IPCC. A team of researchers from various institutions in Africa, Asia and Europe carried out a study to assess the role of trees on agricultural ...

Penn College adds financial counseling, computerized accounting offerings
WILLIAMSPORT, Pa. — In fall 2016, Pennsylvania College of Technology will add to its business offerings a minor in financial counseling. Additionally, updates to coursework in accounting majors will prepare graduates to use and build secure accounting ...

New accounting standards paint bleaker picture for state pension debt
“The Governmental Accounting Standards Board a little while back got fed up with these under-reported pension numbers, so they put out new standards that have gradually been instituted,” he said. But not every jurisdiction – Cook County, for example ...

Why Subscription Clients Must Prep for New Rules
Starting in 2018 for public companies and 2019 for private companies, ASC 606 and IFRS 15 revenue management guidelines from the Federal Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) will require ...

Accounting and Auditing Highlights July 23-Aug.1, 2016 - BNA.com.
JULY 26: The Financial Accounting Standards Board proposed income tax disclosure changes to reveal cash, cash equivalents and marketable securities held ...

Staff Up Your Accounting Firm with Pokemon Go
The mobile game Pokémon Go has been grabbing the attention of young people ever since it was introduced last month, bringing together gamers in search of Pokémon characters, but could it also entice young employees and clients to the accounting firms ...

Saybrook Plans New Accounting System
Savings on town payroll operations is just one reason that the Board of Selectmen last week voted to support conversion to a new accounting system over the next two years. The selectmen approved an appropriation of up to $170,000 to buy the new ...

Accounting Firm EY Signs at Waterfront Corporate Center in ...
Accounting Firm EY Signs at Waterfront Corporate Center in ...

How Technology Is Changing The Accounting And Bookkeeping Industry
In recent years, technology has become a vital component of the accounting and bookkeeping industry. The days of consistent on-site consulting have morphed into brief off-site meetings, with a plethora of additional software now serving as ...

Managing the Money From Legalized Marijuana: Accounting Tips for the Cannabis Industry
Abide by Internal Revenue Code section 280E – this requires knowledgeable and diligent accounting advice. Be ready for an audit and for dealing with very aggressive revenue agents. Even though federal law enforcement in many cases is easing up on ...

Alabama Sued Over Accounting Software Contract
The state auditor of Alabama, Jim Zeigler, has filed a lawsuit against the governor's administration for breaking the state's bid law with an accounting software contract. Alabama has been using the State of Alabama Accounting and Resource System ...

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Sageworks Debuts Podcasts on Growing an Accounting Firm
It's not exactly as addictive as the first season of NPR's "Serial," but that's OK. Sageworks has premiered a three-part podcast series on how to grow an accounting firm. The series, “Next-Level Accountants: Your guide to growing a firm of trusted ...

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An Accounting Giant on Keeping Millennial Employees Happy
People think of us as old, stodgy accountants. But we're a relatively young organization. In the last couple of years we hired 60,000 to 65,000 people a year. So we're probably one of the biggest hirers there is, and we have to appeal to this new ...

MERGER: 100-person accounting firm GSK joins national entity ...
MERGER: 100-person accounting firm GSK joins national entity ...

Nichols Accounting shifts from lease to own for its new Nampa office
based Nichols Accounting will solidify its Nampa presence by building a new 10,500-square-foot office just west of the Ford Idaho Center and likely relocate the company's headquarters. Nichols had been leasing 3,500 square feet since 2003 in the ...

Schneider Downs among 100 largest U.S. accounting firms
9; CKD LLP, No. 12; Baker Tilly Virchow Krause LLP, No. 13; and Hill Barth & King LLC, No. 69. CLA is a newcomer to Pittsburgh, acquiring KFMR last fall. Patty Tascarella covers accounting, banking, finance, legal, marketing and advertising and ...

Why People Should Pay More Attention To Accounting, According To Herb Greenberg
Greenberg pays particularly close attention to Alibaba and has done several forensic accounting investigations. Alibaba treats its costs inside the company differently from other companies and this is going unnoticed by many analysts, especially ...

Video: Improving California's Water Accounting
Understanding California's balance sheet for water—how much there is, who has claims to it, and what is actually being “spent”—is key to effective and sustainable water management, especially during droughts. But the state's system of accounting is ...

Innovation, Student Loans, the Accounting Profession and Financial Hot Topics Energize Educators in Chicago
The KWHS team just returned from three days in Chicago, Ill., following our latest PwC-KWHS Seminar for High School Educators on Business and Financial Responsibility at the University of Chicago's Gleacher Center. This was our 10th seminar in ...

$750000 gift will boost Accounting faculty
“This transformational gift will have a tremendous impact on the future of our accounting program,” said University President Thomas Mengler, J.D. “Without the exceptional faculty members who carry out the important work of educating exceptional ...

KPMG to pay entry-level employees to earn Villanova master's in accounting
KPMG is partnering with Villanova School of Business and The Ohio State University Max M. Fisher College of Business to develop a new approach to learning with master's degree programs emphasizing data and analytics (D&A) in accounting. This KPMG ...

Weak oversight and sloppy accounting cause $6.5-trillion mystery in Army financial statements
The inspector general warned that until the army and the Defense Finance Accounting Service (DFAS) got control over their accounting problems, “there is considerable risk that [Army General Fund] financial statements will be materially misstated and ...

Zynga User Base Shrinks Further, Loss Narrows on Accounting Change
Videogame developer Zynga Inc. ZNGA 0.34 % 's second-quarter loss narrowed despite a shrinking user base and revenue decline, thanks mostly to an accounting change. Zynga said its loss would widen in the current quarter, with revenue coming in below ...

Facing shortage, accountants hope to sell students on the job
This year's Careers in Accounting and Management Professions program — CAMP for short — offered by the University of Massachusetts Amherst Isenberg School of Management in July, gave Samuel and 27 other minority students a free crash course in the ...

Accountants' Liability CLE is Must-Attend Event for Accountants, Their Counsel, and Those Regulating the Accounting ...
Accountants' Liability CLE is Must-Attend Event for Accountants, Their Counsel, and Those Regulating the Accounting ...

Accounting Technology's Impact Felt Far Beyond The Enterprise
There is seemingly no end to the discussion of how automated accounting can improve a business' performance. The market is on the cusp of a groundswell of adoption of these technologies, says Therese Tucker, CEO of accounting solutions firm BlackLine, ...

Will Your Stock's Revenue Add Up The Same Under FASB 606 Accounting Rule?
The biggest change in accounting standards since the Sarbanes-Oxley Act of 2002 will shake up how public companies book revenue, in many cases resulting in earlier recognition of sales. And the ripple effects could touch everything from earnings and ...

What An Accounting Statement Fortress Looks Like: A Study Of T. Rowe Price
Few of us have an extensive background in accounting. That does not stop us from using the expression. When asked to explain, many folks will go the route of Supreme Court Justice Potter Stewart's memorable quote, "I know it when I see it." I might be ...

Accounting Manager Fights IRS For Deduction For MBA Courses
Thanks to a trip to Tax Court, Alex Kopaigora will be able to keep his deductions for MBA expenses for the year 2011, mostly. Mr. Kopaigora began working for Marriott International Corporation in 2002 and advanced to a position of significant ...

Caleb Jenkins of RLJ Financial Services brings his accounting skills and generosity to Haiti
As the world becomes more interconnected and firms adopt a global mindset, there's a growing trend to expand accounting services—be they in charity or business—to new and developing markets. Firms of all sizes are getting more involved with bringing ...

Summer Wrap Up: Compliance, Security, Best Practices
With the busy season wrapped up, now is the perfect time to reflect on your accounting firm's data security processes. This guide provides you with a set of industry best practices that help streamline your security processes and ensure your firm is ...

Judge Lets PwC Lawsuit Proceed over MF Global Audits
The plan administrators, MF Global Holdings, claimed in their complaint that PwC had committed “extraordinary and egregious” professional negligence for approving MF Global's off-balance sheet accounting for the European sovereign debt transactions and ...

People News -- Aug. 5, 2016
Jonathan Zeigler, a partner at Baker Tilly Virchow Krause LLP, has received the 2016 Pennsylvania Institute of CPAs Young Leaders Award, in recognition of his demonstrated commitment and active participation in his community and the accounting ...

"Unusual" accounting: Inside a Trump business audit
The experts who examined her report say it detailed failures in basic bookkeeping, the seemingly sudden adoption of irregular accounting methods, and efforts to stymie officials. Stonewalling. It was more than a year before city officials were allowed ...