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Lehman’s accounting tricks unveiled?
Associated Press WASHINGTON — An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. The question now is whether the trickery spells legal jeopardy for executives of Lehman or its auditors Ernst & Young. (Sun, 14 Mar 2010 11:45:23 GMT)

Examiner unveils Lehman accounting tricks
WASHINGTON (AP) -- An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Sun, 14 Mar 2010 07:34:43 GMT)

Examiner unveils Lehman accounting tricks
WASHINGTON — Lehman Brothers was insolvent for weeks before formally declaring bankruptcy and relied on an accounting gimmick called Repo 105 for financial relief before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Sun, 14 Mar 2010 06:38:31 GMT)

Examiner unveils Lehman accounting tricks
WASHINGTON (AP) — An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. The question now is whether the trickery spells legal jeopardy for executives of Lehman or its auditors Ernst & Young. (Sat, 13 Mar 2010 13:26:01 GMT)

Report: Accounting trick hid Lehman problems
NEW YORK - It is the Wall Street equivalent of a coroner's report - a 2,200-page document that lays out, in new and startling detail, how Lehman Brothers used accounting sleight of hand to conceal the bad investments that led to its undoing. The report, (Sat, 13 Mar 2010 09:18:23 GMT)

Official report says Lehman Bros. used 'misleading' accounting tricks
A 2,200-page report by a court-appointed examiner says executives of Lehman Brothers manipulated the now-defunct company's balance sheet, using a "materially misleading" accounting trick to temporarily remove $50 billion of troubled assets (Sat, 13 Mar 2010 01:20:58 GMT)

Examiner unveils Lehman accounting tricks
An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. (Sat, 13 Mar 2010 01:02:53 GMT)

Examining Lehman's Creative Accounting
A new report says Lehman Bros. used accounting tricks to cover up the fact it had been insolvent for weeks before it filed for bankruptcy in September 2008. Lynn Turner, former chief accountant for the Securities and Exchange Commission, discusses the creative accounting techniques the company used to manipulate its books. (Sat, 13 Mar 2010 00:43:46 GMT)

Examiner Unveils Lehman Accounting Tricks
Lehman's accounting gimmick helped firm hide debt, examiner says; could it mean legal trouble? Business - Accounting - Lehman Brothers - Firms - Financial services (Fri, 12 Mar 2010 23:55:35 GMT)

Lehman Bros. used accounting trick amid financial crisis – and earlier
Failed investment bank Lehman Bros. used an accounting trick at the end of each quarter to make its finances appear less shaky than they really were, says a report from an examiner. (Fri, 12 Mar 2010 23:18:27 GMT)

Lehman Bros. used accounting trick amid financial crisis – and earlier
Lehman Brothers was playing loose with its accounting even before the financial crisis put the investment bank under intense pressure to reassure its investors, according a report this week from a court-appointed examiner. (Fri, 12 Mar 2010 22:58:24 GMT)

NewsWatch: Do other firms use Lehman's accounting 'drug'?
Lehman Brothers used an accounting maneuver to make itself look financially stronger than it actually was. Did other investment banks get hooked on this? (Fri, 12 Mar 2010 22:26:23 GMT)

Examiner Sees Accounting Gimmicks in Lehman Demise
Lehman Brothers used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found. (Fri, 12 Mar 2010 16:00:16 GMT)

Lehman Bros. accounting trickery alleged
A court-appointed examiner's report also says that JPMorgan Chase & Co. and Ernst & Young could face legal claims over the investment bank's failure. In the months before Lehman Bros. collapsed in late 2008, setting off the global financial crisis, the investment bank used an accounting trick to make it appear to have greater liquidity than it did, a court-appointed examiner alleges in a report ... (Fri, 12 Mar 2010 15:20:46 GMT)

Lehman Bros. accounting trickery alleged
Reporting from New York - In the months before Lehman Bros. collapsed in late 2008, setting off the global financial crisis, the investment bank used an accounting trick to make it appear to have greater liquidity than it did, a court-appointed examiner alleges in a report unsealed Thursday. (Fri, 12 Mar 2010 14:44:34 GMT)

Report traces demise of Lehman Brothers to accounting, asset moves, pressure from rivals
EPALehman Brothers world headquarters in New York City in 2008.NEW YORK -- “Materially misleading” accounting gimmicks were among the factors that brought down Lehman Brothers two years ago, a report released Thursday shows, according to a report in The New... (Fri, 12 Mar 2010 12:37:55 GMT)

The British Origins of Lehman’s Accounting Gimmick
As The New York Times’s article on the court-appointed examiner’s report on Lehman Brothers makes clear, perhaps the most newsworthy element to pop out of the inquest’s 2,200 pages is an accounting trick known as “Repo 105.” (Fri, 12 Mar 2010 12:11:10 GMT)

How 'Repo 105' was Lehman's accounting 'drug'
An accounting maneuver known as “Repo 105” was a “drug” that helped maintain a veneer of health on Lehman Brothers’ crumbling balance sheet in the months running up to its bankruptcy, a report from a court-appointed examiner shows. (Fri, 12 Mar 2010 11:55:28 GMT)

Lehman's $50bn 'Accounting Gimmick' Slammed
Lehman Brothers bosses have been accused of using an "accounting gimmick" to hide billions in losses which helped bring about its collapse and unleashed the global financial crisis. (Fri, 12 Mar 2010 10:56:26 GMT)

Kintetsu Corrects Five Years of Earnings on Accounting Fraud
March 12 (Bloomberg) -- Kintetsu Corp ., a railway company operating in western Japan, corrected more than five years of earnings statements because of accounting fraud at a wholly owned advertising subsidiary. (Fri, 12 Mar 2010 07:45:22 GMT)

Did Accounting Tricks Lead to Lehman's Downfall?
Should accounting tricks be added to the long list of things that caused the financial crisis? I'm not sure. Turns out Lehman was even more leveraged than we thought (Fri, 12 Mar 2010 06:24:38 GMT)

Examiner sees accounting gimmicks in Lehman demise
Lehman Brothers Holdings Inc used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found. (Fri, 12 Mar 2010 03:11:33 GMT)

Xavier accounting students help prepare tax returns for students, low income and elderly residents
Xavier University accounting students are helping to prepare tax returns for low income, elderly and student taxpayers on Monday evenings from 5:30 p.m.-8:00 p.m. from March 8 through April 12. The students are offering free basic federal and state income tax assistance to the Xavier, Norwood, Evanston and Avondale communities through the IRS-sponsored Volunteer Income Tax Assistance Program ... (Thu, 11 Mar 2010 14:39:07 GMT)

eCopy PaperWorks from Nuance Hits a Home Run in Boston Red Sox Accounting Department
BURLINGTON, Mass.----Nuance Communications, Inc. , a leading provider of speech and imaging solutions, today announced that the Boston Red Sox have selected eCopy PaperWorks PDF and network scanning desktop software to drive paper out of their accounting department, creating faster and more efficient invoice processing. (Thu, 11 Mar 2010 13:00:00 GMT)

Accounting charges for pension report cost city nearly $100,000
The city spent nearly $100,000 on accounting costs for a report recommending ways to slash costs from the fire and police pension plan. (Thu, 11 Mar 2010 11:50:46 GMT)

Trade body calls for pension accounting overhaul
A pension trade body will call for an overhaul of the underlying accounting framework for pensions, which it believes can be held hostage to market swings, the Financial Times reports. (Thu, 11 Mar 2010 10:10:58 GMT)

UNC considers master's degree in accounting
Accounting students may soon be able to continue their education a little longer at the University of Northern Colorado. UNC's board of trustees will decide Friday whether to add a master's of accounting degree. The meeting will take place at 8:30 a.m. Friday in the Panorama Room of the University Center, 10th Avenue and 20th Street in Greeley. The move comes amid pressure from the accounting ... (Thu, 11 Mar 2010 08:06:01 GMT)

Small firms slam 'deceptive' EU accounting plans
EU plans to exempt smallest firms from having to draw up annual accounts came under fire from a leading European small business group yesterday (10 March), claiming it will distort the internal market without cutting red tape. (Thu, 11 Mar 2010 07:30:23 GMT)

JR uses creative accounting to make his beef levy case
NSW beef processor and industry agitator Bindaree Beef appears to be using some creative accounting methods in its on-going war against beef industry bodies. (Thu, 11 Mar 2010 03:47:20 GMT)

Accounting Red Flags – Ten Things to Watch For
I've put together a list of ten different possible pitfalls – what they mean, and how to spot them... (Wed, 10 Mar 2010 19:35:14 GMT)

U.S. criticizes some of region's stimulus accounting
London, Ky., and 12 businesses in the state are "two-time losers" in the eyes of the panel created by President Barack Obama to oversee the federal stimulus program. The board claims they haven't accounted for grants worth hundreds of thousands of dollars. (Wed, 10 Mar 2010 06:07:27 GMT)

New W&L Accounting Courses Teach International Standards
For U.S. companies, preparing to adopt international accounting standards is a major headache. For accounting students at Washington and Lee University, a new curriculum is alleviating some of the pain. (Tue, 09 Mar 2010 22:25:48 GMT)

Outlook Improves for Accounting Worker Hiring
Seven percent of CFOs plan to add full-time accounting and finance employees during the second quarter, the highest forecast since the first quarter of 2009, but 8 percent expect staff reductions. (Tue, 09 Mar 2010 20:10:07 GMT)

Accounting Issues Arise at More Annual Meetings
Companies should be prepared to address accounting issues, tax increases, executive compensation, access to capital and the economic recovery at annual shareholder meetings this year, advises accounting firm BDO. (Tue, 09 Mar 2010 19:40:18 GMT)

VTB says new accounting to hit Q4 by $200 mln
* Russia's second biggest bank says adopted new standards (Tue, 09 Mar 2010 17:55:06 GMT)

Downturn good for expanding accounting firms
The economic downturn is providing opportunities for expansion for at least a few local accounting firms. (Tue, 09 Mar 2010 17:18:38 GMT)

Crowe Horwath Takes First in Public Accounting Report's 2009 SEC Audit Rankings
Public Accounting Report named Crowe Horwath LLP, one of the largest public accounting and consulting firms in the U.S., the winner of its annual analysis of auditor changes for SEC entities. (Tue, 09 Mar 2010 17:03:00 GMT)

Richard Greene: It's Not a Tax on Soda and Pizza, It's "Honest Accounting"
The recent news about an 18 percent tax on pizza and soda helping American adults lose 5 pounds a year is going to drive Republicans... (Tue, 09 Mar 2010 16:28:11 GMT)

WATCH: 5 Best Free Tax Tools
Becky Worley offers tips to finding free tax assistance online. United States - Accounting - Becky Worley - Business - WorleyParsons (Tue, 09 Mar 2010 14:56:38 GMT)

Sony to Sell at Least 25 Million TVs Next Fiscal Year (Update1)
March 9 (Bloomberg) -- Sony Corp. aims to sell at least 25 million televisions in the 12 months ending March 31, 2011, with 3-D sets accounting for about 10 percent of that. (Tue, 09 Mar 2010 07:55:00 GMT)

Accession Technology Offers Free Consulting for Sage Software MAS 90 and MAS 200 Accounting Software
Accession Technology today announces that they will be offering a 0% financing option and free consultation services to all companies interested in upgrading or converting to Sage Software’s MAS 90 and MAS 200 4.4, the latest version of MAS 90 and MAS 200. (Tue, 09 Mar 2010 07:00:00 GMT)

SmithGroup to Design POW/MIA Accounting Command
The Phoenix division of SmithGroup, an architecture, engineering, interiors and planning firm, has been chosen to design a new facility for the Joint POW/MIA Accounting Command (JPAC) at the Hickam Air Force Base in Honolulu. (Tue, 09 Mar 2010 00:31:42 GMT)

Accounting for the cost of carbon: Price for small and medium business not sky high
Creator: Scott McKenry The Rudd Government’s proposed Carbon Pollution Reduction Scheme (CPRS) would not significantly impact most Australian businesses, according to this research report. Environment & Planning (Mon, 08 Mar 2010 23:59:46 GMT)

China North East Petroleum Clarifies Non-Cash Accounting Adjustments to Previously Issued 2008 and 2009 Financial ...
China North East Petroleum Holdings Ltd. , a leading independent oil producing and oilfield services company in Northern China, today announced the impact of its previously announced need to revise its 2008 and 2009 financial statements to account for non-cash accounting adjustments. (Mon, 08 Mar 2010 21:01:00 GMT)

Tax season bringing out the fraud artists
How do you know that the sender of an e-mail that has landed in your inbox is trying to steal your money or your identity? The message comes right out and asks for it. Tax season means computer criminals are going to be out in force, pumping out bogus e-mails... Fraud - Tax - United States - Accounting - Taxation (Mon, 08 Mar 2010 16:10:20 GMT)

Globalization Key Focus of Accounting Association That Taps Wolf & Company CEO, Daniel P. DeVasto, To Fill Board ...
Wolf & Company, P.C. of Boston is pleased to announce that Daniel P. DeVasto President and Chief Executive Officer, has been appointed Chairman of the Board of Directors of PKF North America for 2010. Â (Mon, 08 Mar 2010 15:15:00 GMT)

Roger Barry seeking nomination for treasurer
Primary elections are right around the corner and the race for the title of Harrison County Treasurer may be crowded, including Woodbine’s Roger Barry, owner of R.L. Barry Accounting. (Mon, 08 Mar 2010 15:09:17 GMT)

Relevant Links
The Banking sub-sector was the most active in the week under review, accounting for 59.77 per cent of the market turnover, with 1.04 billion shares valued at N11.12 billion in 17,717 deals. (Mon, 08 Mar 2010 13:42:13 GMT)

Accounting Management Solutions Offers Nonprofits Easy Access to UPMIFA Expertise
WALTHAM, MA--(Marketwire - March 8, 2010) - Accounting Management Solutions, Inc . (AMS), a leading provider of outsourced accounting, financial management, and consulting services for private, public, and nonprofit organizations, today announced that the company is offering a variety of expert support options for nonprofit organizations and CPAs who need help dealing with the Uniform Prudent ... (Mon, 08 Mar 2010 13:11:40 GMT)

MoD budget row centred on resource accounting
Serious differences between the Ministry of Defence and the Treasury over resource accounting reforms have emerged at the heart of rows over spending involving defence chiefs threatening to resign. (Mon, 08 Mar 2010 10:39:58 GMT)

People & Places for March 8
ON THE MOVE ACCOUNTING Orlando Tranlam is a staff accountant at Meadows Urquhart Acree & Cook. He will provide tax services to individual, corporate and nonprofit clients. He was formerly with CarMax. He earned his bachelor’s degree in accounting and finance from Virginia Commonwealth University. Sara C. Applegate is an accounting associate at Harris, Hardy & Johnstone. She will focus on ... (Mon, 08 Mar 2010 05:06:45 GMT)

IFRS will change accounting practice for Financial Assets
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial asset is cash, equity shares issued by another entity, and a contractual right to receive cash or another financial asset. A derivative instrument is recognised either as an asset or a liability depending on whether the price of the ... (Sun, 07 Mar 2010 18:40:45 GMT)

Indian ADRs gain $8 bn in a week
Indian stocks trading on American bourses together added $8 billion to their cumulative market capitalisation, with IT bellwether Infosys Technologies and private sector lender ICICI Bank accounting for $3 billion of the total gains. (Sun, 07 Mar 2010 10:25:24 GMT)

Search FT.com
Proposed changes to international accounting standards will accelerate the pace at which corporate pension schemes are selling out of equities and closing to further accrual by existing members, consultants believe. (Sun, 07 Mar 2010 09:18:02 GMT)

Accounting misdeeds haunt nonprofits
SACRAMENTO, Calif. — Nonprofit groups are paying a price for the corporate and accounting misdeeds of Enron, Tyco International and others nearly a decade ago. (Sun, 07 Mar 2010 08:14:52 GMT)

At Westminster, world unlocked by 'integration'
Once upon a time, students taking college-level business courses typically focused solely on such fields as marketing, finance or accounting. An accounting major really didn't worry about what went on in marketing -- and vise versa. (Sun, 07 Mar 2010 07:10:36 GMT)

Mover: Scott Robinson
What is your new title? Vice president, corporate controller and chief accounting officer for Imation, Oakdale. (Sun, 07 Mar 2010 06:03:40 GMT)

Forbes praises free markets at Richmond Forum
Free markets work, governments, not so well, two-time presidential hopeful Steve Forbes told The Richmond Forum last night. Joking that he planned to bore the sell-out crowd at the Landmark Theater with monetary policy, accounting issues and the importance of the rule of law, Forbes said capitalism and free markets are the answer to the nation’s current troubles. (Sun, 07 Mar 2010 05:03:56 GMT)

Journalistic Shoplifting
The Times owes its readers a full accounting of its investigation into a former reporter accused of plagiarism. (Sun, 07 Mar 2010 02:10:03 GMT)

Sturgeon Bay native Heather Hafeman becomes accounting firm partner
Heather Hafeman became a partner in the Strom Ballweg Accounting Firm in Madison Jan. 1. Hafeman is a certified public accountant with more than 11 years of experience in public accounting. She specializes in serving insurance entities. (Sat, 06 Mar 2010 10:17:24 GMT)

Should We Put A Dollar Value On Nature?
In many countries nature is quickly sacrificed for wealth creation. But there is a cost to this loss and ignoring it, some experts contend, is "bad accounting." (Sat, 06 Mar 2010 05:39:58 GMT)

Staff members at accounting firm tee off during break from tax work
The first hole in this executive mini-golf course falls from a carpeted tee to a broad fairway of office cubicles. From there, players have to putt around a tricky hazard: an accountant deep into tax season. (Sat, 06 Mar 2010 05:13:35 GMT)

Consumer, labor advocates oppose smart natural gas meter plan
Consumer and labor advocates are striving to block a Southern California Gas Co. plan to install "smart" meters in all its customers' homes and businesses that would give a daily accounting of each one's natural gas consumption, with the aim of promoting conservation. (Sat, 06 Mar 2010 05:05:01 GMT)

Crown Prince of White-Collar Convicts May Go Free: Ann Woolner
March 5 (Bloomberg) -- In the rash of white-collar prosecutions that followed the rash of accounting scandals in 2001 and 2002, no conviction was as welcome as those of Enron Corp.’s top two executives. (Fri, 05 Mar 2010 08:37:21 GMT)

Former professor of accounting Higley dies
By: Carly Evans Former BVU accounting professor, Wayne Higley, passed away on Sunday. Higley was 78 years old and resided in Storm Lake.... (Fri, 05 Mar 2010 05:02:53 GMT)

Accounting and tax news round up
Huljich steps down as the managing director and chief investment officer at Huljich Wealth Management this week after a board review of the company's operations with KiwiSaver funds and NetProphet reporter Rob Hosking goes to the Penny and Hooper case at the Court of Appeal reporting on what went on in court as we await the outcome of the deliberations. (Fri, 05 Mar 2010 01:50:26 GMT)

Accounting students prepare income tax returns for free
To those who aren't accounting majors, income tax return forms can look like some sort of alien code, complete with dozens of different boxes, letters and numbers. However, the accounting department at UCM is here to help out. The Voluntary Income Tax Assistance program (VITA) is in full swing as of Wednesday, Feb. (Thu, 04 Mar 2010 23:39:25 GMT)

Audit shows accounting errors at Greenon schools
ENON - A state audit released today, March 4, showed several errors in how the Greenon Local School District collected and recorded money for athletic events, including a theft of nearly $3,000 that went unnoticed for some time. (Thu, 04 Mar 2010 23:17:21 GMT)

Local CPA firms see steady business despite difficult times
By HOMER BRICKEY SPECIAL TO THE BIZ INSIDER Despite the recession, most Toledo-area certified public accounting firms serving the business community report that billings are steady, even though cash flow is slower than usual. And partners of those locally owned CPA firms in Toledo and its suburbs say they have picked up clients in recent years that once would have had their audits done by large ... (Thu, 04 Mar 2010 15:55:30 GMT)

SEC APPROVES STATEMENT ON GLOBAL ACCOUNTING STANDARDS
The Securities and Exchange Commission has voted to issue a statement that lays out its position regarding global accounting standards and makes clear that the Commission continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors.... (Thu, 04 Mar 2010 15:36:36 GMT)

FASB ISSUE ACCOUNTING STANDARDS UPDATE NO. 2010-10, CONSOLIDATION: AMENDMENTS FOR CERTAIN INVESTMENT FUNDS
The FASB issued Accounting Standards Update No. 2010-10, Consolidation (Topic 810): Amendments for Certain Investment Funds. For many reporting entities (in particular, calendar year companies) these amendments are effective immediately.... (Thu, 04 Mar 2010 15:07:08 GMT)

Accounting in the cloud
The global phenomenon of taking business functions out of the head office and hosting them with third parties in the public cloud has extended to the most sensitive department -- finance and accounting. (Thu, 04 Mar 2010 07:34:09 GMT)

SEC Sues Verint for Improper Accounting
The Securities and Exchange Commission has filed a settled civil complaint against Verint Systems, a former subsidiary of Comverse Technology, alleging a fraudulent scheme involving improper accounting practices. (Wed, 03 Mar 2010 20:55:08 GMT)