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Accounting deficiencies found at local fire district
Albany -- Bedford Hills Fire District failed to regularly monitor its financial activity, including filing state-mandated financial report for eight years, according to an audit released Friday by State Comptroller Thomas DiNapoli. (Sat, 21 Jul 2007 12:21:49 GMT)
Indian accounting standards to match global norms
Indian accounting standards will be fully in line with the International Financial Reporting Standards (IFRS) from April 1, 2011. This was decided by the Institute of Chartered Accountants of India (ICAI) at its 269th Council meeting here today. (Sat, 21 Jul 2007 18:34:10 GMT)
Demand grows for accounting majors
Hot field of accounting demands right training, skills. (Sun, 22 Jul 2007 05:16:34 GMT)
What's a common mistake investors make?
A: With an employer's stock accounting for almost one-fourth of the average 401(k) plan and international shares making up only 7 percent of the asset, Morningstar says those are two missed opportunities. With all the investing opportunities outside the United States, investors who don't put money in international funds are missing out on potential gains and the lower risk achieved through ... (Sun, 22 Jul 2007 10:07:35 GMT)
Business People
MISHAWAKA -- The Troyer Group has announced the following additions to the company: Kim Davis, project accounting manager; Tim Schrock, graduate architect; and B. David Ross joined the public sector team. (Sun, 22 Jul 2007 11:01:04 GMT)
Finance, Accounting and Consultancy
The subprime mortgage market consists of loans to borrowers with high credit risk, and the mechanisms that have evolved to originate, service, and finance those loans. (Sun, 22 Jul 2007 13:44:27 GMT)
High on the hog, and paying for it
More than 550 million pigs are eaten here each year, accounting for 70 per cent of local meat consumption, writes John Garnaut. (Sun, 22 Jul 2007 14:05:58 GMT)
UNEXPECTED ACCRUALS AND CONDITIONAL ACCOUNTING CONSERVATISM
This paper examines the impact of management discretion over accruals on conditional accounting conservatism, defined as the tendency of accountants to recognize bad news on a timelier basis than good news. (Sun, 22 Jul 2007 19:45:30 GMT)
Reaching out to recruit, retain women in accounting
For Wipfli L.L.P., the Women's Impact Network was an idea whose time had come. (Mon, 23 Jul 2007 04:18:47 GMT)
Accounting for flex time
The accounting profession, long associated with the green eyeshade types burning the midnight oil, is now leading the way on workplace flexibility to attract talent. (Mon, 23 Jul 2007 04:19:20 GMT)
Accounting may derail market for employee stock options
A Zions Bancorp. push to value employee stock options using a market-based approach may be delayed pending resolution of a basic accounting question: Are financial products that track the value of such options an equity instrument or a liability? (Mon, 23 Jul 2007 06:30:20 GMT)
New Webservice Enables Automated Accounting to Help SME's
One downside of having a highly successful web or offline retail business is the fact that the more items that are sold to individuals the more paperwork is generated for the company owner in terms of manually entering customer information and sales data into a separate systems. (Mon, 23 Jul 2007 09:13:10 GMT)
Accounting fraud case dropped
By MARISA TAYLOR Two years into a fraud investigation, veteran federal prosecutor David Maguire told colleagues he'd uncovered one of the biggest cases of his career. Maguire described crimes "far worse" than those of Arthur Andersen, the accounting giant that collapsed after the Enron scandal. Among those in his sights: executives from a subsidiary of Berkshire Hathaway, the investment empire ... (Mon, 23 Jul 2007 11:06:51 GMT)
Solve the five top accounting annoyances
Kate Spontak, president of MKS Consulting in Ridgefield Park, N.J. gets an earful from disgusted clients every day. They gripe to her if the accounting software they just paid an arm and leg for is nothing but a pain in, well, some other body part. (Mon, 23 Jul 2007 12:05:00 GMT)
Intervoice's Accountant E&Y Resigns
Intervoice Inc., a provider of call automation software and services, said Friday that its independent accounting firm Ernst & Young LLP has resigned. (Mon, 23 Jul 2007 12:26:20 GMT)
Bookeeping/Accounting Software aids small businesses.
GSA Buchhalter v1.1.8 bookkeeping/accounting suite enables self-employed persons and small companies to handle their finances in-house. Package features include management of unlimited customer entries, freely configurable booking accounts, graphical diagrams, customizable overview time periods, income surplus calculator, and monthly value added reports. Database backup creation and restoration ... (Mon, 23 Jul 2007 13:32:40 GMT)
Tenneco Announces Restatement of Financial Statements Primarily Related to Accounting for Interest Rate Swaps
Tenneco Inc. announced that it will restate its previously reported financial results primarily to correct the accounting for interest rate swaps that the company entered into in 2004. (Mon, 23 Jul 2007 21:05:00 GMT)
Tenneco restates financial results to reflect accounting change
Tenneco Inc. late Monday disclosed plans to restate previously reported financial results, to correct the Lake Forest auto-parts maker's accounting treatment of interest-rate swaps it entered into in April 2004. (Mon, 23 Jul 2007 23:08:39 GMT)
India to Internationalize Accounting Standards
New Delhi (July 24, 2007) - India plans to bring its accounting standards in line with International Financial Reporting Standards by April 1, 2011. The Institute of Chartered Accountants of India made the decision, which will apply to public companies in time for the deadline, according to the Business Standard of India. (Tue, 24 Jul 2007 04:00:33 GMT)
KashFlow Debuts Accounting E-commerce Service
Essex, U.K. (July 24, 2007) - KashFlow has introduced a Web service to help small and midsized Web retailers do their accounting. The service automates the entry of customer information and sales data from a vendor's e-commerce site to the KashFlow online accounting software. (Tue, 24 Jul 2007 04:00:53 GMT)
AEGON Changes Accounting Principles Relating to Guarantees in the Netherlands
Starting with the second quarter of 2007, AEGON will change the accounting principles it uses to value guarantees on certain products in the Netherlands. This change will ensure AEGON's financial statements better reflect the economic matching of its assets and liabilities. (Tue, 24 Jul 2007 05:45:00 GMT)
AEGON Changes Accounting Principles Relating to Guarantees in the Netherlands
THE HAGUE, The Netherlands, July 24 /PRNewswire/ -- Starting with the second quarter of 2007, AEGON ( Nachrichten / Aktienkurs ) (NYSE: AEG , LSE: AGN) will change the accounting principles it uses to value guarantees on certain products in the Netherlands. (Tue, 24 Jul 2007 05:52:16 GMT)
Aegon changes accounting principles for guarantees on some Dutch products
AMSTERDAM (Thomson Financial) - Aegon NV will change the accounting principles used to value guarantees on certain products in the Netherlands from the second quarter of 2007, the company said in a statement. (Tue, 24 Jul 2007 06:15:30 GMT)
Clackamas accounting clerk faces charges
A Clackamas River Water accounting clerk is suspected of embezzling more than $50,000 from the district -- the third case of public theft to hit Clackamas County in the past 16 months. (Tue, 24 Jul 2007 07:20:43 GMT)
Challenger Wine Trust Announces Change to Accounting Treatment of Water Rights (CWT.AX, 00741670, 20070725)
Challenger Wine Trust advised that following discussions with ASIC, it has resolved to treat certain water rights as intangible assets in the 2007 financial statements. The water rights affected will be recorded at historic cost in the 2007 financial statements, with the potential to move to fair value accounting should an 'active' market for water rights be deemed to exist. This change in ... (Tue, 24 Jul 2007 23:30:00 GMT)
SEC Goes After ConAgra Accounting
ConAgra Foods Inc., whose former executives have been accused of aiding improper accounting practices, was itself accused by federal regulators Tuesday of illegitimate accounting. (Tue, 24 Jul 2007 23:39:31 GMT)
Accounting Outsourcing Trend Continues
Houston (July 25, 2007) - Outsourcing advisory firm EquaTerra continues to see demand for outsourced accounting and finance services. One third of the company's advisors cited finance and accounting outsourcing as a leading demand area in the second quarter of this year. (Wed, 25 Jul 2007 04:13:42 GMT)
Local accounting firm Robinson Grant turns 25
When Bill Robinson and J. Louis Grant established their accounting firm in Beaufort County in 1982, they knew they wanted to contribute more than just good accounting to the community. (Wed, 25 Jul 2007 04:15:31 GMT)
State criticizes accounting by Bedford Hills Fire District
BEDFORD - A recently released audit found "significant" accounting deficiencies in the Bedford Hills Fire District, including a failure to file mandated financial reports, inadequate record keeping and poor supervision of the district treasurer, according to the state Comptroller's Office. (Wed, 25 Jul 2007 06:38:49 GMT)
Shared services important for financial & accounting transformation says report
Amid pressure to both improve the performance and reduce the cost of finance and accounting (F&A), more and more organizations are adopting internal shared services as a delivery model. (Wed, 25 Jul 2007 06:54:12 GMT)
FASB ISSUES PROPOSAL TO CLARIFY THE “SHORTCUT METHOD” OF HEDGE ACCOUNTING
The Financial Accounting Standards Board has issued proposed Statement 133 Implementation Issue No. E23, "Issues Involving the Application of the Shortcut Method under Paragraph 68." This proposal provides guidance on certain practices involved in the application of one technique for determining hedge accounting, commonly referred to as the shortcut method. (Wed, 25 Jul 2007 11:21:24 GMT)
Subprime Mess Fueled by Crack Cocaine Accounting: Jonathan Weil
July 25 (Bloomberg) -- Back in 1998, as the subprime- lending industry imploded, critics blasted the loose rules that allowed profits to be booked under ``gain-on-sale'' accounting - - the financial world's equivalent of crack cocaine. (Wed, 25 Jul 2007 12:56:04 GMT)
SEC Charges Conagra Foods, Inc. in Financial Fraud and Accounting Case
Washington, D.C., July 25, 2007 - The Securities and Exchange Commission yesterday filed civil charges against ConAgra Foods, Inc., alleging that it engaged in improper, and in certain instances fraudulent, accounting practices during its fiscal years 1999 through 2001, including the misuse of corporate reserves to manipulate reported earnings in fiscal year 1999 and a scheme at its former ... (Wed, 25 Jul 2007 14:55:14 GMT)
Highwoods hires heads for accounting, leasing
Raleigh-based Highwoods Properties has hired two new executives - a chief accounting officer and a corporate vice president for leasing. (Wed, 25 Jul 2007 15:12:08 GMT)
MBIA Says Accounting Review Is Clean
Insurance holding company MBIA Inc. said Wednesday an independent consultant hired to assess certain company accounting and disclosures found they were consistent with generally accepted accounting principles and federal securities laws. (Wed, 25 Jul 2007 15:49:27 GMT)
Fujitsu posts quarterly net loss under new accounting policies
Fujitsu Ltd., Japan's largest computer maker by sales, said Thursday it posted a net loss for the April-June quarter, due partly to a significant change in accounting policies, despite robust overseas outsourcing, hard disk drive and server operations. (Thu, 26 Jul 2007 01:47:00 GMT)
SEC eases stance on accounting rules
US companies moved a step closer to being allowed to file financial results under international accounting standards after the Securities and Exchange Commission proposed a radical move away from US rules. (Thu, 26 Jul 2007 04:08:26 GMT)
EU sees accounting rules aligning
The accounting rules used by US, Japanese and Canadian groups are moving closer to the reporting standards employed in the European Union, according to a report by the European Commission on Thursday. (Thu, 26 Jul 2007 04:08:35 GMT)
CCH Taps Tax and Accounting VP
Riverwoods, Ill. (July 26, 2007) - CCH has appointed Gene McGovern as vice president of tax and accounting publishing, replacing Catherine Wolfe, who was named U.K. CEO of the publisher's parent company, Wolters Kluwer, earlier this year. (Thu, 26 Jul 2007 04:13:33 GMT)
ConAgra to pay SEC $45 million over alleged accounting errors
ConAgra Foods Inc. will pay a $45 million civil fine as part of a settlement with federal regulators who accused the company of using improper accounting to help it meet Wall Street expectations, a company spokeswoman said Wednesday. (Thu, 26 Jul 2007 07:10:38 GMT)
Fujitsu posts Q1 loss, cuts outlook on accounting
TOKYO, July 26 (Reuters) - Fujitsu Ltd. swung to a quarterly net loss on chip price falls, poor sales of telecom systems and stricter inventory accounting, and it cut its full-year outlook by 13 percent to further below market expectations. (Thu, 26 Jul 2007 09:23:41 GMT)
MBIA accounting practices cleared
An independent consultant found they were consistent with generally accepted accounting principles and federal securities laws. (Thu, 26 Jul 2007 14:04:40 GMT)
Maturing Finance & Accounting Outsourcing Market is Driving Innovation beyond Labor Arbitrage
DALLAS----Findings from a new Everest Research Institute study reveal that among all outsourced General and Administrative functions, Finance & Accounting Outsourcing has the highest rate of global sourcing adoption, with 77 percent of contracts having elements of offshore delivery. (Thu, 26 Jul 2007 15:00:00 GMT)
Accounting for flex time
The accounting profession, long associated with the green eyeshade types burning the midnight oil, is now leading the way on workplace flexibility to attract talent. (Thu, 26 Jul 2007 16:32:43 GMT)
MBIA accounting practices cleared
An independent consultant found they were consistent with generally accepted accounting principles and federal securities laws. (Thu, 26 Jul 2007 21:36:11 GMT)
Accounting for PFI
Off-balance sheet accounting has a long and often dishonourable history. Just think of Enron. (Thu, 26 Jul 2007 22:53:17 GMT)
Wis. Kollath & Associates Host Property/Casualty Accounting Seminar
Madison, Wis.-based Kollath & Associates CPA, LLC, recently announced that they will sponsor an educational seminar, "Basic Property & Casualty Insurance Accounting," which will be held at the Madis (Fri, 27 Jul 2007 05:08:09 GMT)
Accounting employee completes CPA exam
Stanley L. Polhamus, an employee of the accounting firm Johnson, Lauder & Savidge, has successfully completed the Unified CPA Examination. Successful completion of the CPA examination is one of the requirements for licensing in New York state as a certified public accountant. (Fri, 27 Jul 2007 06:53:11 GMT)
Faulty accounting costs state millions
Improper accounting practices led the state to overpay Medicaid providers $13 million last year and made it impossible to know whether state payouts of $20 million to charter schools were being properly handled, according to a state audit released Thursday. (Fri, 27 Jul 2007 07:45:45 GMT)
ASSOCIATE PROFESSOR, MANAGEMENT ACCOUNTING AND ACCOUNTING INFORMATION SYSTEMS (2 POSITIONS)
An opportunity for an academic with a PhD and demonstrated excellence in research exists to join a committed, enthusiastic team. The successful applicant will contribute to research, teaching and administration in management accounting or accounting information systems. (Fri, 27 Jul 2007 12:21:21 GMT)
DHBT: Controlller and Chief Accounting Officer Jim Anderson Named CFO
DHB Industries Inc. (DHBT) announced the appointment of Jim Anderson as Chief Financial Officer. Mr. Anderson had previously been serving as the Company's Controller and Chief Accounting Officer as well as interim CFO. (Fri, 27 Jul 2007 13:17:12 GMT)
LandAmerica Automates Accounting To Save Resources, Speed Processing, Enhance Customer Service
LandAmerica Financial Group's Florida office handles accounting for Search and Exams and Title Insurance documents. Because of the high volume of checks, the office staff in Orlando was always at least a week behind in processing payments. Their timeconsuming, labor-intensive, error-prone process needed to be replaced by an automated system. Submitted by Eastman Kodak (Fri, 27 Jul 2007 13:35:21 GMT)
Ex-Qwest CEO Nacchio gets 6 years
Joe Nacchio, the former Qwest Communications chief who was forced to resign during a multibillion-dollar accounting scandal, was sentenced to six years in prison Friday for illegally selling $52 million in stock while not telling investors that his telecommunications company faced serious financial risks. (Fri, 27 Jul 2007 22:39:55 GMT)
David Hendricks: Accounting law could hurt Texas bond ratings
State agencies and local governments face a difficult choice: Do government officials stick with the outdated Texas Constitution and risk having their bond interest rates boosted? (Sat, 28 Jul 2007 02:24:07 GMT)
New accounting standards challenged in SC
A few corporates have moved the Supreme Court challenging the new accounting standards issued by the Institute of Chartered Accountants of India on deferred tax liability of listed companies. (Sun, 29 Jul 2007 05:44:11 GMT)
Programs have key differences
Recent graduates and current students say the first MBA assignment is doing your homework on the differences among programs. All MBA programs provide core classes in areas such as marketing, accounting and finance, but there are often key differences (Sun, 29 Jul 2007 06:33:35 GMT)
Stephanie Pticar receives employee service award from Mercy College
STATEN ISLAND, N.Y. -- Stephanie Pticar of Huguenot has become the first winner of Mercy College's Above and Beyond Employee Service Award. Miss Pticar is a graduate assistant in the accounting program at the college's Dobbs Ferry, N.Y., campus. (Sun, 29 Jul 2007 09:49:55 GMT)
Executive moves
Executives in accounting, advertising, finance, high tech and new media, law and real estate have all found new digs. Check out the new faces in key places. (Sun, 29 Jul 2007 11:04:31 GMT)
Nigeria: Accounting Profession, The Church, and The State - Potent Change Agents for National Rebirth
This is the second instalment of the paper given at a public lecture at the Covenant University, Ota, Ogun State by Professor Emenyonu, head, Department of Accounting, Southern Connecticut State University, New Haven, Connecticut, USA. The first part was published in our last edition. (Sun, 29 Jul 2007 15:22:44 GMT)
State audit finds Medicaid overpayments, poor accounting
COLUMBUS — Improper accounting practices led the state to overpay Medicaid (Mon, 30 Jul 2007 06:39:31 GMT)
QED Financial Systems Provides Comprehensive Securities Data to Investment Accounting and Portfolio Management ...
In July 2007, QED Financial Systems introduced QED Data Connection, a solution that provides comprehensive securities data to QED clients via single, customized data feeds that enable organizations to save time and control costs. (PRWeb Jul 30, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/ (Mon, 30 Jul 2007 07:26:56 GMT)
MTD group may see more cash through accounting adjustments
KUALA LUMPUR: The MTD group may see even more cash from accounting adjustments. A change in fortunes of the Bakun Dam project, which MTD is involved in, has prompted the group to apply to the government for an adjustment that could see earnings boosted by RM40mil. (Mon, 30 Jul 2007 07:38:16 GMT)
JON CARROLL
So I was reading a story in This Very Newspaper about biotech companies and their perhaps questionable accounting practices and failure to consider shareholders and, well, I kind of stopped following it right there. I have all my money in money just now. (Mon, 30 Jul 2007 10:44:27 GMT)
Take care in hiring accounting, legal help
Small business owners looking for lawyers or accountants need to approach their search with the same kind of care they'd use in hiring an employee - they need to be sure the professionals they hire are experienced enough to do the job and that they're a good fit with the company. (Mon, 30 Jul 2007 12:01:41 GMT)
Portable Receipt Printers are suited for route accounting.
Designed for beverage and bottling industry, ultra-lightweight printers feature clamshell-style loading system and push-button release for paper door. Printers feature high-capacity rechargeable Li-Ion battery and detectors to monitor temperature, voltage, and paper-out, and are available with built-in Flash and SRAM memory. Devices are in-field programmable for firmware, font, and logo setup and ... (Mon, 30 Jul 2007 13:37:40 GMT)
Quarterly profit plummets at Great Florida Bank
Great Florida Bank said its profit fell 98 percent in the second quarter due to an accounting change, and reported a large increase in non-performing loans. (Mon, 30 Jul 2007 14:09:45 GMT)
2008 INITIATIVES
Growth Growth initiatives, including the implementation of the new accounting system. Data and business integration, including the way we work with business partners. (Mon, 30 Jul 2007 14:23:01 GMT)
News: FirstEdge v3 accounting software goes Universal
MYOB has released FirstEdge v3, a new version of their small business accounting software that's finally available as a Universal binary. (Mon, 30 Jul 2007 16:10:55 GMT)
Overall Accounting and Finance Worker Confidence Gains 1.1 Points
FORT LAUDERDALE, Fla. -- The Accounting and Finance Employee Confidence Index, a measure of overall confidence among U.S. accounting and finance workers, increased 1.1 points to 64 in the second quarter of 2007, according to a recent survey commissioned by Spherion Corporation and conducted by Harris Interactive. (Mon, 30 Jul 2007 20:16:21 GMT)
Accounting workers confident of jobs, IT workers wary
The confidence index for U.S. accounting and finance workers increased, but stayed flat for information technology workers, two new reports from Spherion showed. (Mon, 30 Jul 2007 20:54:40 GMT)
Motive ends accounting investigation; drops Ernst & Young
Motive Inc. has dropped accounting firm Ernst & Young following the conclusion of its lengthy independent investigation. (Mon, 30 Jul 2007 21:49:20 GMT)
Accounting Worker Confidence Rises Slightly
Fort Lauderdale, Fla. (July 31, 2007) - Accounting and finance workers are slightly more optimistic about their jobs and the overall economy, according to a quarterly survey commissioned by recruitment company Spherion and conducted by Harris Interactive. (Tue, 31 Jul 2007 04:10:19 GMT)
Accounting and Finance Worker Confidence Gains Point
July 31, 2007 (SmartPros) Accounting and finance workers' increased optimism in more jobs being available resulted in a 1.1 point gain in the second quarter of 2007, according to the confidence index from staffing firm Spherion Corp. (Tue, 31 Jul 2007 05:25:02 GMT)
Starting Accounting Salaries Rise 2.3 Percent
July 31, 2007 (SmartPros) Competition for new college grads fuels higher starting salary offers in many curriculum areas, says a new report. Accounting grads' average offer rose 2.3 percent, bringing their average offer to $46,718. (Tue, 31 Jul 2007 05:25:22 GMT)
MOTV: Completes Accounting Investigation; Material Weaknesses; Dismisses Auditor
Motive, Inc. (MOTV) announced that an independent investigation by its Board of Directors' Audit Committee into the Company's past accounting practices and related matters has been concluded. (Tue, 31 Jul 2007 12:18:04 GMT)
NWA reports a profit after bankruptcy
Northwest Airlines Corp., which emerged from bankruptcy protection on May 31, said on Tuesday that it earned $273 million during its second quarter before accounting boosts related to its reorganization. (Tue, 31 Jul 2007 14:20:38 GMT)
Misuzu Audit disbands after accounting scandals
TOKYO — Misuzu Audit Corp terminated operations Tuesday, ending a 39-year-history, in the wake of several major accounting scandals in which some of its employees were involved. (Tue, 31 Jul 2007 22:16:40 GMT)
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