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Accounting News 12/2016



The Globalization of Accounting and Auditing Standards ...
The Globalization of Accounting and Auditing Standards ...

FAF Trustees Name Five New Members to the Financial Accounting Standards Advisory Council
The FASAC is responsible for advising the Financial Accounting Standards Board (FASB) on strategic issues, project priorities, and other matters that affect accounting standard setting. FASAC members are selected from a cross-section of the FASB's ...

Advising Your Accounting Clients About Section 105 Plans
Accounting firms and CPAs are a trusted source of information for small Advising Your Accounting Clients About Section 105 Plans businesses. When your clients come to you with questions about individual health insurance reimbursement, we've got you ...

One of Denver's largest accounting firms launches investment bank
One of Denver's largest accounting firms is launching an investment bank to focus on mergers and acquisitions. EKS&H accounting, audit and tax consulting said today that it has formed a new corporate finance and merger and acquisition advisory firm ...

How to Make Your Accounting Firm More Attractive to Potential Buyers
Many accounting firms are offering estate planning or wealth management services, but ironically, a lot of CPAs aren't necessarily ready for their own retirement. One in every four CPA firms currently faces challenges related to succession planning ...

Three Recognized With Accounting Teaching Award
Three members of the Department of Accounting at the Sam M. Walton College of Business at the University of Arkansas have been recognized with a national teaching award by the Federation of Schools of Accountancy and the American Institute of Certified ...

UK Accounting Prof Jane Wells Honored by Kentucky CPA Society
LEXINGTON, Ky. (Dec. 2, 2016) — The Kentucky Society of CPAs (KyCPA) recently recognized outstanding accounting educators at its awards banquet at the Hyatt Regency in Louisville, including the University of Kentucky's Jane Wells. Wells received an ...

10 things to ask before... Choosing an accounting firm
The firm should be able to distinguish itself from other accounting firms, particularly those you are considering. Why is choosing this firm the best decision you could make? What is its specialty? The money you spend on accounting services should ...

10 things to ask before... Choosing an accounting firm - Charlotte ...
10 things to ask before... Choosing an accounting firm - Charlotte ...

​How artificial intelligence has morphed accountants into business advisors
Five years ago, accounting professional Ryan Tietjens found himself in conversation with a handful of strangers who were also going through the motions in their respective corporate jobs. Tietjens and his new-found business partners realised they ...

Beanworks Now AP Automation Provider of Choice for Sage
Beanworks' AP automation solution will become the AP automation provider of choice for Sage accounting and business management solutions, including Sage 50, Sage 100, Sage 300 and Sage 500. It provides end-to-end integrated solution to automate ...

In the Weeds: The Cannabis Industry Needs Accountants ...
In the Weeds: The Cannabis Industry Needs Accountants ...

Accounting firm adds, promotes staff
He specializes in accounting and auditing and also manages the firm's website. He graduated from Capital University and resides in New Bremen. Gariety has been with the firm since 1999 and specializes in accounting, tax preparation and Peachtree ...

Wipfli acquires Waukesha accounting firm
Rick Dreher, managing partner of Wipfli LLP, said the acquisition of Benes & Krueger complements and expands the firm's construction industry services. (Photo: ...

How Transparent Accounting Leads to Smarter Decisions
“Rigorous accounting is the key to ensuring that capital is allocated in the right way,” says Naughton, an assistant professor of accounting information and management at the Kellogg School. “This is well-established when it comes to private enterprise ...

Accounting business to relocate after 40 years
Southern Missouri Home Builders Association Business of the Month Couch, Welch, and Company, Certified Professional Accountants, is about to make a big move. The accounting business, currently at 1618 Gibson Blvd. in West Plains, is set to move at the ...

New Brunswick: Annual event marks public accounting firm's 5th Annual Withum Week of Caring
With more than 800 professionals across the public accounting firm's 14 offices, the staff helped 47 different charitable organizations, donating more than 2,100 hours of time. Withum's New Brunswick office-based staff members prepared meals on behalf ...

Put Accountants Back in Control of Accounting
Small business accounting is dominated by over-the-counter DIY (Do It Yourself) solutions catered to business owners. This environment creates significant pain for both accountants and their clients. If you were to ask your clients if they love doing ...

The9 Limited Selects Grant Thornton as its Independent Registered Public Accounting Firm
During the two fiscal years ended December 31, 2014 and 2015, and the subsequent interim period through the date hereof, there were no (1) disagreements with Deloitte on any matter of accounting principles or practices, financial statement disclosure, ...

Eze Software Simplifies Private Equity Accounting Challenges
Eze Investor Accounting (formerly known as Penny-It-Works) handles partnership and investor accounting for some of the largest hedge funds and their administrators. It is now extending its reach into private equity by automating some PE-specific ...

WebMAcc Ranked Among Best for an Online Masters in Accounting
The Georgia Southern University College of Business WebMAcc has been ranked among the 20 best online schools for accounting masters degrees for 2016-2017 by BestChoiceSchools.com. According to the American Institute of CPAs, a master's degree in ...

Haukkala, Wallace join IR accounting firm
THE STAFF AT DS Rostagno accounting firm includes, in front from left, Eric Haukkala, Melissa Wallace, Sally Helgeson and Dianne Rostagno. In back, from left, are Sue Read, Hope Varhola, Casey Bray, Patsy Peterson, Bee Benson-Stafford and Jackie ...

PCAOB Penalizes Deloitte's Brazil and Mexico Firms
The Public Company Accounting Oversight Board said Deloitte's Brazil firm will pay an $8 million settlement and its Mexico firm will pay a $750,000 settlement to resolve auditing violations. Brazil-based Deloitte Touche Tohmatsu Auditores Independentes ...

Mitchell 1 Enhances Manager SE Software With Accounting And Credit Card Processing Options
mitch125-mitchell-1-25 Mitchell 1 announces enhancements in the latest release of the Manager SE shop management system to streamline auto repair shop accounting and credit card payment tasks. Two applications, Accounting Link from The Back Office ...

Accounting Officials Scrutinize Non-GAAP Measures
Bricker also warned about the upcoming implementation of the new accounting standards for revenue recognition, leases, financial instruments and credit losses standards, which he referred to as “new GAAP standards.” “This is a financial reporting topic ...

4 Ways You Can Go Beyond Accounting in 2017
We're at an inflection point here in the industry where cloud technology, and in particular cloud accounting software, is providing us with the opportunity to be more than just the number cruncher for our clients. With key business performance data ...

Top investor Peter Morgan slams slippery ASX accounting
"I am very concerned with the increased used of not-statutory measures because the so-called accounting is not uniform across companies, it is not always transparent and basically it's become a free-for-all," said Peter Morgan, who made his mark as a ...

Former CMedia Director Responds to Santa Rosa City Council Over Accounting Concerns
Former Director of Santa Rosa's CMedia sent this letter, obtained by KSRO, to the Santa Rosa City Council this afternoon regarding the recent reports of $330,000 in unaccounted for funding. The letter comes ahead of tomorrow's City Council meeting ...

Brilliant Releases 2017 Salary Guides for Accounting, Finance and Information Technology
CHICAGO, Dec. 6, 2016 /PRNewswire/ -- Brilliant™, an award-winning search, staffing and management resources firm specializing in accounting, finance and information technology, released its 2017 Salary Guides for the greater Chicago and south Florida ...

Leap the Pond Predicts Accounting Professionals will Play a More Strategic Role in Business Growth in 2017
MILFORD, CT--(Marketwired - December 06, 2016) - Leap the Pond, a leading provider of Intacct-based accounting solutions for growing organizations, predicts that 2017 will usher in major changes as corporate management increasingly turns to accounting ...

Brixey & Meyer acquires Cincinnati accounting firm
A Dayton-area accounting firm has acquired a Cincinnati accounting company, adding 15 new employees to the company. Brixey & Meyer, which has a location in Miami Twp., has signed a deal to purchase Kamphaus, Henning & Hood. Doug Meyer ...

Cambridge Promotes Amanda Reineke to Vice President of Accounting and Continuous Improvement
FAIRFIELD, Iowa--(BUSINESS WIRE)--Cambridge is pleased to announce Amanda Reineke has been promoted to Vice President of Accounting and Continuous Improvement. In addition to gaining advanced leadership responsibilities in Cambridge's ...

Athens State Accounting Club recognized
ATHENS — Members of the Athens State University Institute of Management Accountants Student Chapter, also known as the Accounting Club, traveled to Detroit in November to be honored at the 17th Annual IMA Student Leadership Conference. The 600 ...

Client accounting services emerges as strong revenue driver for CPA firms
Client accounting services (CAS) is becoming an important revenue category for public accounting firms of all sizes, with larger firms seeing it gain a significant slice of their revenue pie during the past two years, according to a survey from the ...

Priority Areas to Evaluate for the New Revenue Recognition Standard
For professionals in the accounting and finance professions, any changes to accounting standards usually lead to some apprehension as these rules require companies to make key adjustments, expand disclosure practices and implement new procedures ...

Will Brexit, Trump affect global accounting standards?
Political decisions that may affect cross-border business policies in the United States and the United Kingdom have so far had no effect on international accounting standards, Hans Hoogervorst said Tuesday. In June, U.K. voters decided to withdraw from ...

Apple reigns supreme in Flickr's annual report, accounting for 8 of the top 10 cameras
It's no secret that the iPhone has become one of the most used cameras on the market purely due to the fact that the device is in the pockets of millions of users. Not to mention the quality of images taken with the device. Every year, Flickr releases ...

U.S. Census Bureau Daily Feature for December 7: Full Accounting
Profile America — Wednesday, December 7th. Ancient Egyptians kept careful records and markings of goods kept in royal warehouses more than 53 centuries ago. This pre-numerical recording means that the practice of accounting predates written language ...

A huge accounting mistake shows that Britain is £6 billion worse off than we thought
The ONS apologised for the accounting error and played down the significance of the revisions, saying in a statement: "Because the 'erratics' series is volatile, a total trade series that excludes erratics may provide a better guide to the emerging ...

Research Study: Apple iPad Shipments in Q4 up 17.2% Accounting for 21.3% of Shipments Worldwide
Among vendors, Apple will be the largest accounting for 21.3% of shipments, followed by Samsung with 15.0%, Amazon 6.2%, Lenovo 6.1%, Huawei Technologies 5.9%, Asustek Computer 2.8%, TCL 2.7%, Microsoft 2.6%, LG Electronics 1.6% and Acer 1.2% ...

Vermont Information Technology Leaders Appoints Accounting Manager
BURLINGTON, VT – Vermont Information Technology Leaders, Inc. (VITL) has named Bonnie Losty as its new accounting manager. In this position, she is responsible for all aspects of the accounting system for VITL, including invoicing, collections ...

'Tis the Season for Distractions and Accounting Mistakes
Accountants are no different than anyone else at the company during holiday time. We get swept up in heartwarming nostalgia when we hear holiday music, smell and taste delicious baked goods, and are invited to extend our lunch hours or leave the office ...

Go Beyond Accounting Without Being an Expert
The skill set of the modern-day accountant is expanding; moving beyond traditional bookkeeping and taxes, with many clients turning to their accounting firms for additional services, from payroll to benefits to HR. In fact, 88% of the fastest-growing ...

Salaries to rise for accounting/finance and IT in Chicago, South Florida
Expect salaries for accounting, finance and IT professionals in the greater Chicago and south Florida markets to increase in the coming 12 months, according to the 2017 Salary Guides released by staffing provider Brilliant. The research expects ...

SEC and Non-GAAP Accounting: What's​ Next?​
“We want to slow down and taken another look,” Mark Kronforst, chief accountant of the SEC's corporation finance division, told reporters Wednesday at an accounting conference in Washington. No decision has been made about whether the SEC will pursue ...

Westlake accounting firm Corrigan Krause acquires Solon's Klinc & Associates
Corrigan will keep the East Side office, adding a second location for the business and expanding its work in tax, accounting and consulting practices. "By establishing a presence in Solon, we're looking forward to expanding our footprint and becoming ...

Two-part FASB proposal addresses accounting for certain financial instruments
Part II of the proposal would recharacterize the indefinite deferral of certain provisions of FASB Accounting Standards Codification (ASC) Subtopic 480-10, Distinguishing Liabilities From Equity—Overall. The provisions, which are currently presented ...

Blair to purchase accounting system
Commissioner Terry Tomassetti said that he took time since the initial presentation to look into the recommendation and compared it to the software accounting program that could have been purchased in late 2011 for less than $100,0000. “Clearly, the ...

Why Entrepreneurs Need Cloud Accounting Solutions
As an entrepreneur, it makes sense to access cloud accounting services such as Drake Tax Hosting, Quicken Hosting, QuickBooks Hosting, ATX Tax Software Hosting, Lacerte Tax Software Hosting and ProSeries Tax software Hosting. Allow us to explain why ...

No big makeover of pensions rules, says global accounting body
The International Accounting Standards Board (IASB) has come under fire from critics who say its rules unfairly inflate pension deficits in defined benefit schemes because liabilities are measured according to bond yields, which have fallen to record ...