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Accounting News 02/2018



Global Accounting Group to Provide Professional Learning Support for HP's Finance Personnel
The agreement covers professionals in HP's finance and accounting functions. The Association, which combines the strengths of the American Institute of CPAs and the Chartered Institute of Management Accountants, will provide content specifically ...

COSO names Paul Sobel as new chairman
“Big frameworks like the internal control framework that came out in 2013 and the risk management in 2017, those don't happen very often,” Sobel told Accounting Today when asked about his plans for the organization and its frameworks. “I think we're ...

Voices The Spirit of Accounting: 403 and done
Paul Miller and Ed Ketz published the initial version of “The Spirit of Accounting” in the Jan. 22, 1996, issue of Accounting Today. We chose the column's name to emphasize that the spirit of all ethics rules and accounting standards should take ...

Baton Rouge Holiday Inn selects M3's accounting core
Baton Rouge Holiday Inn selects M3's accounting core. by Esther Hertzfeld |. Feb 1, 2018 9:46am. M3's accounting core offers more than 16 easy-to-use modules that streamline accounting functions. Photo credit: M3. Share Facebook Twitter LinkedIn Email ...

BDO and Ferguson + Mak LLP merge to enhance forensic accounting offering
The depth and expertise of Ferguson + Mak LLP complements BDO's current offerings, growing the forensic and investigative accounting practice primarily in the GTA with strong impact across Canada. “BDO is a world class professional services firm that ...

Case Study: Growing Your Accounting Practice – Part 7
Below is the next in a series of case studies we plan to run as part of our partnership with Avalara, as we have a shared belief in seeing the accounting profession move forward and address today's business challenges in order to face tomorrow. These ...

More Than $620000 in Accounting Scholarships Now Available from the AICPA
“The AICPA is dedicated to ensuring there is a strong pipeline of accounting students in colleges and universities who are working their way towards earning their CPA license," said Joanne Fiore, Association of International Certified Professional ...

Netsmart Acquires HomeCare Accounting Solutions to Integrate Clinical and Financial Workflows for Home Health and ...
Netsmart Acquires HomeCare Accounting Solutions to Integrate Clinical and Financial Workflows for Home Health and ...

Voices Tax and trust during tax season
Accounting services are engaged through personal recommendations that originate from trusted relationships. Your clients need to have the confidence to believe in your abilities, not only as a CPA but also as an overall business advisor. In uncertain ...

Weaver acquires Condon tax practice
Weaver, a Top 100 Firm, has acquired the tax practice of Condon & Company, P.C., a firm based in Houston, effective Feb. 1, 2018. The merger adds three partners—Irma Hernandez, Michael Landry, and Ryan Currie—to Weaver's Houston office, along with ...

Audit Regulations Meant to Curb Accounting Scandals Are Working, Mostly
In 2002, after accounting scandals erupted at corporations such as Enron and WorldCom, Congress cracked down on audit firms. One problem it wanted to address was the notion that auditors, who are hired by companies to check their financial statements ...

Budget errors cut Paso Robles school district reserves nearly in half
The Paso Robles Joint Unified School District's budget reserves have dropped by about half during the past three years, mostly due to an incorrect attendance projection and accounting errors. School board trustees discussed the state of the district's ...

Voices Boomer's Blueprint: A formula for transforming your firm
This is a simple formula, yet one that is difficult for most firms to execute. It also shows that transformation can and should include compliance and advisory services. This is not an either/or proposition. I have written previously about how change ...

Voices Farewell to "The Spirit of Accounting"
We rarely appreciate those who call us to account for our failings, who remind us of the responsibilities we've shirked, the compromises we've made, or the corners we've cut. We do not like to hear that we have not always lived up to the standards we ...

Firms on the move: Illinois CPA Society hosts internship prep
Withum names seven recipients of annual Strength Awards; RSM grants $90K for employees to 'Pursue Your Passion;' and more news from CPA offices across the country. View List. next. Get AT in your inbox. Newsletter. Daily, Accounting Technology, Tax ...

People on the move: Crowe Horwath reappoints CEO Jim Powers
CohnReznick promotes nine to principal and partner; Schenck adds two shareholders; and other recent hires, promotions and personnel news from firms across the country. View List. next. Get AT in your inbox. Newsletter. Daily, Accounting Technology, Tax ...

Chattanooga Is the Accounting Job Market's Best-Kept Secret
BlueCross BlueShield of Tennessee is currently hiring accountants there, and its heavy focus on work/life balance will ensure you have plenty of free time to get the most Chattanooga can offer. BCBS of Tennessee also offers its own perks, including a ...

Researchers identify gene largely accounting for 15q13.3 microdeletion syndrome
Researchers are closer to solving the puzzle of a complex neurological condition called 15q13.3 microdeletion syndrome. Individuals with this condition are missing a small piece of chromosome 15 that usually contains six genes, but which one of the ...

Special Report Serving nonprofits
Few clients need their accountants' help more than nonprofit organizations, which face a host of constraints and new expectations. This report will look at the issues nonprofits are facing, how their accountants are helping them cope, and the tools ...

App Watch on Intuit, Thomson Reuters and Paychex
You know it's the Season mostly because, well it's here but also because vendors servicing the tax and accounting community have issued updates to existing products to help out during this joyous time of year and in some cases to deal with the new Tax ...

Regents approve audits, changes to Early Childhood Center accounting
In one finding, the auditors noted the Center waived registration fees for certain families based on criteria only known to the Center, and the Business Office had no way of reconciling fees charged to amounts received. The auditors recommended the ...

Ohio accounting company acquires Colorado firm that specializes in M&A
It was founded in 2008 and provides buy-side and sell-side financial and accounting due diligence services for M&A transactions to private equity groups, as well as public and private companies. In 2017, it had about $5.6 million in revenues. Laurus ...

Accounting Investigation Adds to Challenges Facing GE
24 that the Securities and Exchange Commission had begun an investigation of the company's accounting practices. The announcement most likely means there will be a deep dive into the conglomerate's books and records, a process that will take months ...

Accounting firm holds open house
Accounting firm holds open house. Feb 2, 2018. 2-3-18 Anderson Marx Bohl 2.jpg. Daily Sun photo/Deanna Kirk The staff of Anderson, Marx and Bohl held an open house Thursday to show off its new facility. The new building was constructed after the old ...

Hong Kong's accounting guild enters the technology era with the use of new digital training tools
The Hong Kong Institute of Certified Public Accountants (HKICPA) plans to invest in a digital training platform to cater to a new generation of tech savvy accountants, according to its newly-elected president Eric Tong. An online platform will allow ...

Senior Accounting Associate
Reverb.com is looking for an Senior Accounting Associate to help drive our day-to-day accounting, financial processes, and other marketplace operations. This role will involve coordinating various accounting systems for our site as well as working to ...

EITC due diligence warnings on the way
Preparers who filed returns claiming the Earned Income Tax Credit but who possibly fell short of due diligence requirements will soon receive IRS Letter 4858, “Alert to Return Preparers Related to EITC Claims.” In response to concerns about fraudulent ...

Audit reveals numerous accounting errors at Nebraska's state colleges
A state auditor's examination of financial records at Nebraska's three state colleges revealed numerous irregularities and shoddy accounting. The audit of records for the 2016-17 fiscal year, described in a December report, presents page after page of ...

NH Business Newsmakers: Gendron, Chevalier join accounting firm
BEDFORD — Chris Gendron and Belinda Chevalier joined Howe, Riley & Howe, a tax, accounting and business advising firm with offices in Bedford and Portsmouth. The new associates will serve clients out of the firm's Bedford office. Chevalier, who has 14 ...

Georgia Southern's online Master of Accounting Program ranked in top 25
Georgia Southern University's online Master of Accounting (WebMAcc) program has been ranked in the top 25 by Master's Programs Guide online ranking for 2018. Georgia Southern's WebMAcc program is offered through the AACSB-International accredited ...

Voices Generational Viewpoints: A vision across the generations
This edition of Generational Viewpoints features two professionals from Katz, Sapper & Miller, a 416-person firm with locations in Indiana and New York, and a “Best Place to Work in Indiana” honoree for 12 consecutive years. We asked Baby Boomer ...

Voices The ABCs of better independence compliance
The firm gives independence the proper priority and importance in firm discussions, communications and decision-making. The best messaging includes examples of situations and how the firm handled them. For example: “Last month, we learned that a client ...

Carillion: Politicians press accounting watchdog over 'going concern' rules
A long-running dispute between the UK's Local Authority Pension Fund Forum (LAPFF) and its accounting watchdog over accounting standards was raised by politicians during a heated select committee hearing last week. During an inquiry into the collapse ...

Accounting News Roundup: PwC Settles Petrobras; Deloitte Sued Over Steinhoff; Tax Acrobatics | 02.05.18
The face we're all making because Chris Hemsworth, Danny McBride, and Paul Hogan won't be in a movie together. Deal with PwC brings Petrobras investors' recovery to $3 billion [Reuters] PwC's Brazilian firm agreed to settle for $50 million. “We were ...

Audit: Nebraska State Colleges Had Accounting Errors
A state audit has found numerous irregularities and poor accounting at Nebraska's three state colleges. Feb. 5, 2018, at 2:00 p.m.. Audit: Nebraska State Colleges Had Accounting Errors. Share. ×. Share on Facebook · Post on Twitter · Post to Reddit ...

The 2018 Top New Products
It should come as no surprise, then, that vendors produce such a wide range of tools for the profession; what is surprising, though, is how often trends emerge in product development, and how often these are reflected in the very best products — those ...

Voices Sound bites from a year of change
What a year of change! If you had been frozen one to two years ago in a time machine and were just brought back to life, I'm not sure you could comprehend all the changes that have or will be taking place in our profession. The following are my Top 10 ...

BDO adds PBC Advisors consulting division
They have relocated to BDO's office in Rosemont, Ill., near Chicago. BDO now has approximately 300 professionals in its health care practice. Financial terms of the deal were not disclosed. BDO ranked 7th on Accounting Today's 2017 list of the Top 100 ...

Allan D. Koltin
He has also spoken nationally and internationally at hundreds of conferences including those held by the AICPA, international CPA associations and state CPA societies.For twelve consecutive years, Allan has been named by Accounting Today as one of the ...

Practice management systems go head to head
Practice management is a critical function in any accounting firm. Without good management, clients are poorly served, receipts suffer, and profitability plummets. But exactly what constitutes practice management depends on who is doing the definition ...

Index Accountants Confidence Index — February 2018
Happiness over the passage of the Tax Cuts and Jobs Act -- and expectations that it will fuel business growth -- led to the Accountants Confidence Index recording some of its biggest gains since its inception. The ACI, published in partnership with ADP ...

California lawmaker tries again to increase taxes on legal, accounting and other services
A state senator from Los Angeles wants to increase taxes on legal, consulting, accounting and other service work and use the money to cut other taxes and upgrade state infrastructure. State Sen. Bob Hertzberg (D-Van Nuys) has introduced versions of the ...

IPSASB proposes new strategy for public sector accounting
The IPSASB, which is supported by the International Federation of Accountants, has proposed to strengthen public financial management globally through increased adoption of its own accrual-based International Public Sector Accounting Standard, raising ...

Drury Accounting Students Offer Free Income Tax Prep Assistance to Community
SPRINGFIELD, Mo. -- Drury accounting students are providing free income tax preparation assistance to the community through IRS Volunteer Income Tax Assistance site. The service is open to everyone in the community, but it is designed to benefit low ...

Audit: Nebraska state colleges had accounting errors | Education ...
Audit: Nebraska state colleges had accounting errors | Education ...

$30 Billion Hit Looms for India Banks on New Accounting Rule
India's lenders, already struggling with $210 billion of stressed assets, may have to prepare for another hit as early as the coming financial year if new accounting norms kick in as planned on April 1. The IndAS -- based on the IFRS9 standards created ...

Carillion's problem was aggressive accounting, says finance chief
Carillion adopted an “aggressive accounting” approach in the years leading up to its collapse, its chief finance officer told MPs today. Emma Mercer, who took up the job in September last year, was appearing before a Commons joint select committee ...

Without Accounting Loss, GM Posts Record Full-Year Profits
A $7.9 billion accounting charge pushed General Motors into a $3.9 billion net loss for 2017, but without the expense the company posted record earnings per share. Feb. 6, 2018, at 8:31 a.m.. Without Accounting Loss, GM Posts Record Full-Year Profits ...

OIG Reviews Drug Control Policy Accounting for Three DHS Agencies
Each year, National Drug Control Program Agencies are required to submit detailed accounting for all funds spent, to the Office of National Drug Control Policy, and the OIG has to review these accounts and assess their reliability. OIG used Williams ...

Voices Some truths about the GOP tax law
As a tax professional who has been preparing 1040s for individuals in all walks of life for over 45 years, I have paid close attention to the details of the new tax law that will affect tax returns for 2018 through 2025. While not the disaster that the ...