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Accounting News 10/2016 (Page 4)



5 benefits of becoming an accounting technician
Daniel Westley, Middle East spokesperson, Association of Accounting Technicians (AAT) responded to our questions by email and clarified five benefits to taking up a course or multiple courses under the AAT umbrella. Based in the United Kingdom, the AAT ...

Executive waives accounting rules to allocate up to £90m on favoured projects
The Stormont executive has overridden government accounting rules more than a dozen times in the past five years, sign-off tens of millions of pounds. Figures obtained by The Irish News show the devolved administration has used so-called 'ministerial ...

Susan M. Miller, BKD (Lifetime Achievement Award in Accounting)
When Susan Miller was in her early teens, she knew she wanted to go into accounting after visiting her uncle in North Carolina. Her uncle was a certified public account and “a respected individual in the community,” said the 45-year-old Miller. “He ...

How to Learn Cloud Accounting Quickly
However, accounting is a very traditional profession. It takes time for CPA firms or accounting managers to create a culture of cloud accounting at the workplace. This guide will help CPA firms that want to move to the cloud quickly and efficiently ...

CARBO Ceramics' Response To The SEC Reveals Alarming Accounting Concerns
On 6/12/15, CARBO Ceramics (NYSE:CRR) received questions from Mr. John Cash, Accounting Branch Chief at the SEC, inquiring about certain aspects of the company's accounting policies. Most notably to us was Mr. Cash's drill-down into CRR's asset ...

Intuit Launches National Ad Campaign That Highlights Important Role Accountants Play in Fueling Small Business ...
Intuit Launches National Ad Campaign That Highlights Important Role Accountants Play in Fueling Small Business ...

Make or Buy?
Acquisition activity in recent years is up in just about every industry, and accounting firms are no exception. Indeed, the last 15 years have produced historically high levels of merger and acquisition activity within the accounting industry. Not only ...

Integrated Accounting Firm Technologies Lead to Client Satisfaction
What are the key components to client satisfaction? And what are the key attributes that clients look for when choosing an accounting firm? These are some of the key questions analyzed in the 2016 Wolters Kluwer Tax & Accounting survey and white paper, ...

Ohio Accounting Firm Joins CPAsNET
The Sidney, Ohio-based accounting firm of McCrate, DeLaet & Company has been selected to join CPAsNET, a prestigious network of exceptional accounting firms. Fewer than 30 firms in the nation have the opportunity to be invited to join this elite ...

Filling the Pipeline
Take one of the biggest issues facing the accounting profession: the relative dearth of new CPAs. This is a problem that seems tailor-made for buck-passing, involving, as it does, a range of factors that would seem to be beyond the scope of any ...

Accounting News Roundup: The Accounting Profession Is Still Worried About Millennials | 10.24.16
A recent survey by the Institute of Management Accountants found that 62 percent of senior finance professionals believe that recruiting millennials is the biggest challenge for their business. “We wanted to do this survey because there's this big ...

Gusto Survey Shows Fastest-Growing Firms Go Beyond Accounting
SAN FRANCISCO--(BUSINESS WIRE)--In a recent survey of accountants across the country,1 Gusto, an all-in-one platform for HR, payroll, and benefits, found that 88% of the fastest-growing accounting firms enjoy helping clients with non-accounting ...

The Fastest-Growing Firms Go Beyond Accounting
Small businesses have struggled to adapt to the many complex government regulations and heightened expectations surrounding employee benefits. They're turning to their accountants for support in this area, and the fastest growing firms are leveraging ...

Blackbaud Adopts Stock Compensation Accounting Standard; Increases 2016 Operating Cash Flows Expectations
During the three months ended September 30, 2016, Blackbaud early adopted ASU 2016-09, which addresses, among other items, the accounting for income taxes and forfeitures, and cash flow presentation of share-based compensation. Under ASU ...

Intuit Names 'Firm of the Future' Winner
New Wave Business Solutions founder Reuben Bergola, meanwhile, wants to go beyond empowering just his employees – he wants to use some of his prize money to begin work on a platform to allow bookkeepers and accountants to share knowledge, best ...

New accounting program for Prov. to generate over $200,000 ...
New accounting program for Prov. to generate over $200,000 ...

High Plains Library District garners national attention for transparency in accounting
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. The organization presented the award to the district's finance manager, Natalie Wertz. “As a tax based organization we know we have ...

Awards Recognize the Most Powerful Women in Accounting
Women are increasingly attaining the reins of power in accounting firms, accounting for about 20 percent of firm partners. This is still not enough, according to thought leaders like Amy Vetter, CPA, who notes that women make up more than half of the ...

Abila Adds Features and Functionality to Award-Winning MIP Fund ...
Abila Adds Features and Functionality to Award-Winning MIP Fund ...

The Spirit of Accounting
Over the last 20 years, we've used case studies, theoretical analyses, economics and common sense to plead with managers, accountants and everyone else to confront the reality that GAAP-based reports don't fully serve anyone's needs. We think it's time ...

Arizona Accounting Firm Monheit Zongolowicz Frisch Joins CPAsNet
Monheit Zongolowicz Frisch, CPAs PLC a public accounting firm with offices in Surprise and Scottsdale, Arizona, has been selected to join CPAsNET, a prestigious network of exceptional accounting firms. Fewer than 30 firms in the nation have the ...

FASB simplifies income tax accounting for asset transfers
In its ongoing journey to simpler accounting, the Financial Accounting Standards Board has issued another simplification targeting accounting for income taxes. This one tells entities it's OK to recognize the current and deferred income taxes ...

The Rich Get Ready for Higher Taxes Under a President Clinton
(Bloomberg) For wealthy Americans, a big win by Hillary Clinton on Nov. 8 could get pretty expensive. Clinton is proposing higher taxes on Americans who make more than $250,000, including a 4 percent “fair share surcharge” on incomes over $5 million a ...

Save time and paper: Automating accounting processes | #QBConnect
His focus was on automation, because he believed a great deal of time could be recovered if businesses would simply automate their accounting processes. That time can then be spent on more important tasks, such as growing a business or interacting with ...

Wolters Kluwer Continues Roll-out of New CCH® Accounting Research Manager Interface
WASHINGTON--(BUSINESS WIRE)--During the CCH Connections User Conference, Wolters Kluwer Tax & Accounting showed its new user interface for CCH® Accounting Research Manager (ARM), the complete research solution dedicated to accounting, ...

BDO expands in Norfolk with addition of accountants McPhillips, Roberts & Deans
Chicago-based BDO USA said Wednesday it will add Norfolk accounting firm McPhillips, Roberts & Deans to its organization. BDO will add the McPhillips, Roberts and Deans staff of 80, which includes 14 partners, and maintain its current location in Town ...

Accounting Firm To Pay Over $11.8 Million To Settle SEC Audit Failure Charges
An accounting firm agreed to pay more than $11.8 million to settle SEC charges relating to the failed audits of an oil services company that allegedly used deceptive income tax accounting to inflate earnings. The SEC Order determined that: the firm's ...

How Integrated Reporting Is Changing The Role Of The Accounting Profession
Giorgio Saavedra is the Integrated Reporting Lead in the Corporate Reporting group of the World Bank, and is also responsible for statutory and management reporting for the International Bank for Reconstruction and Development (IBRD), one of the World ...

US prosecutors investigate Brixmor accounting issues
N) disclosure earlier this year that accounting personnel had manipulated its financial results. Brixmor, one of the largest U.S. shopping center landlords, revealed the investigation by the office of Manhattan U.S. Attorney Preet Bharara's office in a ...

Boomer's Blueprint
With the advent of cloud-based applications and new vendors coming into the accounting market, it appears their existing technology limits the majority of firms. Most of the core applications in the accounting profession were written in the client ...

BDO Merges in McPhillips, Roberts & Deans
MRD offers accounting, tax and retirement plan services, targeting privately held middle-market businesses in the Hampton Roads area. Its client base includes health care businesses, government and construction contractors, real estate companies, auto ...

Should the Accounting Profession Be Renamed?
A bit of history: the idea of accountants, or even credentialed ones such as CPAs change their title to better reflect what they do and showcase value to potential clients can go back to when the term “Cognetor” was first bandied about. That didn't ...

The Accounting Sector in South Africa 2016
NEW YORK, Oct. 26, 2016 /PRNewswire/ -- The South African Accounting Sector: This report focuses on the South African accounting, auditing, bookkeeping and tax advisory sector which was valued at R28bn in 2015. According to the South African Institute ...

'Firm of the Future': How cloud, mobile and automation are revolutionizing accounting | #QBConnect
A common perception of accountants and accounting professionals is that they are notoriously reluctant to change. Some of them may believe that they are not subject to the relentless advance of technology, because accounting practices as a whole have ...

Apple Profits Benefit From 2015 Accounting Change
Apple Inc. is still the most profitable company in the land. An accounting change a year ago helped. Profits, though down from 2015, were actually bolstered by a decrease in deferred revenue compared to a year ago. That's because the decrease in ...

Bozrah Utilities wants full accounting from CMEEC
Mario Guitierrez rides Nyquist past Gun Runner during the 142nd running of the Kentucky Derby horse race at Churchill Downs Saturday, May 7, 2016, in Louisville, Ky. The Bozrah Utilities Commission is seeking full accounting from the Connecticut ...

BT takes £145m hit due to accounting 'errors' at Italian division
The company, which said the non-cash charge would not affect full-year figures, appointed external advisers to assist with a full investigation into BT Italia. BT said its initial internal inquiry found “certain historical accounting errors” and it had ...

Hollywood Accounting Back In Court: How Has Spinal Tap Only Earned $81 In Merchandise Sales For Its Creators?
We've discussed the amazing bullshit known as Hollywood Accounting many times here on Techdirt. This is the trick whereby big Hollywood studios basically get out of paying anyone royalties by claiming movies (including big, mega-famous ones) are not ...

Warren Targets KPMG, Accounting Law in Wake of Wells Fargo Scandal
... executives at the bank. The senators also asked whether Wells Fargo employees misled KPMG employees at any point about unauthorized accounts being created and whether the accounting firm conducted any re-assessment of its audits. Prev 1 of 4 Next ...

Jerry Osteryoung: Outsourcing your accounting might make sense
When talking about accounting help for most small firms, we mean bookkeepers, and it can be more difficult than most realize to hire good help. When considering an applicant, you must verify their character – especially as it pertains to honesty – and ...

Phonies in Public Accounting
Public accounting culture is a prime environment for young professionals to feel impostor syndrome. High turnover cultivates a “sink or swim” culture. The profession is full of recent grads with little to no prior work experience. It is a recipe for ...

Accounting Headaches Continue at Santander Consumer
Accounting Headaches Continue at Santander Consumer. by Kristin Broughton. OCT 27, 2016 6:57pm ET. Santander Consumer USA Holdings in Dallas will make a cash payment of about $115 million to its former chief executive, due to an error with its ...

Accounting Society, Beta Alpha Psi to host annual Chili Cook-Off
Accounting Society members will host the 51st annual Chili Cook-Off from 8:30 a.m. to 2 p.m. Oct. 29, outside the Business Building on Oak Street between 3rd and 4th streets. The society is partnering with Beta Alpha Psi, an accounting, finance and ...

Centene Corporation Chooses Clearwater Analytics to Streamline and Automate Their Investment Accounting and ...
Centene Corporation Chooses Clearwater Analytics to Streamline and Automate Their Investment Accounting and ...

Accounting Mistake Costs Fulton Taxpayers More
Homeowners in Fulton will end up paying a little more money in taxes this year due to an accounting error by the Callaway County clerk Denise Hubbard. Fulton officials held an emergency meeting Tuesday morning to discuss options for the city. The city ...

Sikich Acquires Stanfield
In April, Sikich acquired Brockman, Coats, Gedelian & Co., an Akron, Ohio-based firm that provides audit and assurance, tax, technology, and wealth management services (see Sikich Acquires BCG & Co.). Sikich ranked 31st on Accounting Today's 2016 list ...

Accountants Want Purpose, Too!
The Accounting major is popular in college because it is one of the easiest ways to ensure you get a job after school, and the most prestigious – and lucrative – route to take is to get a job with one of the Big 4 Public Accounting firms. My Accounting ...

Chair Named for New AICPA/CIMA Association
Andrew Miskin has been named the inaugural chair of the Association of International Certified Professional Accountants, the new global accounting organization created by the American Institute of CPAs and the Chartered Institute of Management ...

SEC lawyers give Lynn Tilton's firm accounting lesson in court
The Securities and Exchange Commission tried to give the controller of Lynn Tilton's Patriarch Partners an accounting lesson on Friday. The regulator's lawyers quizzed Carlos Mercado about why Patriarch recorded just $6.9 million of accrued interest on ...

People News – Oct. 28, 2016
Separately, Kimberly Ellison-Taylor, global accounting strategy director for Oracle America, was installed as chair of AICPA at its Fall Council meeting in Orlando. (See the story.) … Christopher Howell has been admitted as a shareholder at Thomas ...