Accounting News 10/2007 (Page 2)

Ex-Dynegy exec convicted in fraudulent accounting scheme wants new trial (ABC 13 Texas)

A former midlevel Dynegy Inc. executive serving six years for helping foster a multimillion-dollar accounting scheme has asked a federal court to set aside his convictions and free him from jail. (Oct 8, 2007)

A.M. Best Special Report: Evolving Accounting and Regulatory Rules Pose Challenges to Life And Annuity Companies (Business Wire via Yahoo! Finance)

OLDWICK, N.J.----New accounting rules and regulations for life and annuity companies that have been percolating through the system probably will be coming into fruition over the next few years. (Oct 8, 2007)

Gazprom posts profit increase helped by one-time accounting gain (International Herald Tribune)

The Russian natural gas exporter reported first-quarter profit unexpectedly up 14 percent to a record level. (Oct 9, 2007)

Mediaset chairman, Berlusconi accused of false accounting to 2000 - report (Sharewatch)

MILAN (Thomson Financial) - Mediaset SpA's chairman Fedele Confalonieri and former prime minister Silvio Berlusconi are accused by the Milan prosecutor Fabio De Pasquale of false accounting at the television company until the full-year 2000, Il Sole 24 Ore and MF reported. (Oct 9, 2007)

Former Italian PM may be tried for false accounting (Accountancy Age)

Former Italian primer minister, Silvio Berlusconi, faces charges of fraudulent accounting in connection with irregularities found at his private broadcasting company, Mediaset SpA. (Oct 9, 2007)

Former Italian PM may be tried for false accounting (vnunet.com)

Penny Sukhraj, Accountancy Age , Tuesday 9 October 2007 at 00:00:00 Berlusconi's lawyer says the allegations of irregularities at his private broadcasting company Mediaset SpA are 'baseless' Former Italian primer minister, Silvio Berlusconi, faces charges of fraudulent accounting in connection with irregularities found at his private broadcasting company, Mediaset SpA.... > Read ... (Oct 9, 2007)

Global Talent Crunch for Accounting and Finance Professionals (CNW Group via Yahoo! Finance)

Employers around the world continue to feel the effects of a shortage of accounting and finance professionals, according to the recently released Robert Half International Global Financial Employment Monitor. (Oct 9, 2007)

Finance, Accounting and Consultancy (Mondaq)

Two hedge funds affiliated with Bear Stearns & Co., Inc., the fifth-largest investment firm in the U.S., recently failed in a bid to obtain recognition under chapter 15 of the Bankruptcy Code of winding-up proceedings commenced in the Cayman Islands at the end of July for two of the firm's hedge funds that were casualties of the sub-prime mortgage meltdown. (Oct 9, 2007)

National Bank Offers Simply Accounting Software to Clients Free of Charge (Marketwire via Yahoo! Finance)

National Bank is now offering commercial clients who subscribe to Internet Banking Solutions a free download of well-known accounting program Simply Accounting at www.nbc.ca/be-inc. (Oct 9, 2007)

Financial records 'unauditable' due to bad accounting, independent accountant says (The Morning Journal)

ELYRIA -- A review from an independent accountant found that a lack of standards and accounting principles -- not a single accident or mishap -- led to Carlisle Township's financial records being declared ''unauditable'' by the state auditor. (Oct 10, 2007)

Global Talent Crunch for Accounting and Finance Professionals (Online Recruitment)

10/10/2007 Employers around the world continue to feel the effects of a shortage of accounting and finance professionals, according to the recently released Robert Half International Global Financial Employment Monitor. (Oct 10, 2007)

`Death Wish 3' Stars FASB in Stock-Option Redux: Jonathan Weil (Bloomberg.com)

Oct. 10 (Bloomberg) -- The first time the accounting mandarins tried to fix the rules for employee stock-option compensation, it almost killed them. The second time, they barely escaped with all their teeth. Now, they're coming back for more. (Oct 10, 2007)

Finance, Accounting and Consultancy (Mondaq)

This is the September 2007 edition of our email news service – The Turkish Update – which is issued every month. Our aim is to provide a concise and easy-to-read summary of developments in Turkey which may be of interest to our clients. (Oct 10, 2007)

Accounting firm seeks offers for closed N.S. railcar plant (The Halifax Daily News)

HALIFAX - A Halifax business accounting firm acting as financial advisor for TrentonWorks is seeking offers for the idle railcar plant. (Oct 10, 2007)

Secured Digital Announces Installation of Integrated RFID Accounting System for an Auto Dealership in Memphis, TN (Business Wire via Yahoo! Finance)

NEW YORK----Secured Digital Applications, Inc. and Collier Consulting announced today the installation of a Radio Frequency Identification accounting system in the Lincoln Mercury dealership in Memphis, TN to showcase Secured Digital's integrated financial accounting and RFID tracking applications. (Oct 10, 2007)

Accounting firm moves to Brookfield (Small Business Times)

The Winter, Kloman, Moter & Repp S.C. accounting firm has moved its main office from Elm Grove to Brookfield at 235 N. Executive Drive, Suite 160. The newly updated 11,000-square-foot suite, just west of Brookfield Square off Bluemound Road, will accommodate more than 30 staff members. (Oct 10, 2007)

BT chairman seeks global perspective on accounting (FT.com via Yahoo! News)

Sir Michael Rake is still an accountant at heart. Sitting in his new office at BT's headquarters, he keeps dropping into "we" when talking about the profession and only occasionally correcting himself. (Oct 11, 2007)

Zimbabwe: Accounting Firm Loses Appeal (AllAfrica.com)

The Administrative Court has dismissed with costs an appeal by a local accounting firm seeking to quash the State Procurement Board's decision to award four tenders to two of its rivals. (Oct 11, 2007)

SEPTEMBER DECISION SUMMARY, PUBLIC SECTOR ACCOUNTING BOARD (Accounting Education)

The Canadian Public Sector Accounting Board (PSAB) met on September 17-18, 2007 and discussed a number of items, including indicators of financial condition, PSAB governance and operations, the Accounting Standards Board (AcSB) Not-for-Profit Exposure Draft, PSAB Strategic Plan and 2008-09 Work Plan and Joint Working Group between PSAB and the Deputy Ministers of Finance.... (Oct 11, 2007)

Beazer probe uncovers accounting gaffes, HUD violations (bizjournals.com via Yahoo! Finance)

Beazer Homes USA Inc. will have to restate its earnings for several years after an internal investigation found the company's mortgage subsidiary violated certain U.S. Department of Housing and Urban Development regulations and the company made several accounting errors. (Oct 11, 2007)

Beazer Probe Finds Accounting Errors (TheStreet.com)

The builder will restate results higher. (Oct 11, 2007)

Beazer audit finds accounting errors (CNN Money)

Homebuilder says mortgage unit violated lending rules and it will need to restate financial results. (Oct 11, 2007)

NYSSCPA ACCOUNTING EDUCATORS CONFERENCE (Accounting Education)

If you require an overnight room for Thursday and/or Friday, please phone the hotel directly at 518-464-6666 to make your reservation and specify that you are with the FAE Accounting Educators Group. You must reserve by October 9. Rooms are limited. (Oct 11, 2007)

Butler International Completes Accounting Review and Files Form 10-K and Form 10-K/A With the SEC (Marketwire via Yahoo! Finance)

Butler International, Inc.,, a leading provider of TechOutsourcing services, announced that the Company's internal review of certain accounting matters is complete and the Company's Annual Reports on Form 10-K for the year ended December 31, 2005 and Form 10-K/A for the year ended December 31, 2004 have been filed with the Securities and Exchange Commission. (Oct 11, 2007)

12-10-2007: GBH blames lack of accounting expertise for breaching listing rules (The Edge Daily)

KUALA LUMPUR: Goh Ban Huat Bhd (GBH) has cited its lack of accounting expertise as the cause for breaching listing requirements over the past three years with the latest being unable to ensure its unaudited FY06 results are factual and accurate, resulting in understating its audited group loss after tax by RM1.5 million. (Oct 12, 2007)

RFID Accounting: Secured Digital Announces Installation Of Integrated RFID Accounting System For An Auto Dealership In ... (RFIDSolutions-RFIDSolutionsOnline)

Secured Digital Applications, Inc. and Collier Consulting announced recently the installation of a Radio Frequency Identification (RFID) accounting system in the Lincoln Mercury dealership in Memphis, TN to showcase Secured Digital's integrated financial accounting and RFID tracking applications. (Oct 12, 2007)

CYMA Announces the Release of CYMAIV Accounting for Windows® Version 10 (PRWeb)

CYMA Systems, Inc., a 27 year developer of general accounting software for the medium-sized organization, is now shipping Version 10 of its flagship product line, CYMAIV Accounting for Windows®. (PRWeb Oct 12, 2007) (Oct 12, 2007)

Accounting clerk charged with extensive theft (Macon Telegraph)

GBI agents arrested an accounting clerk with the Georgia Public Safety Training Center on Thursday and charged her with stealing about $241,000 during the past five years. (Oct 12, 2007)

Beazer probe uncovers accounting gaffes, HUD violations (BizJournals)

Beazer Homes USA Inc., the largest home builder in Tennessee, will have to restate its earnings for several years after an internal investigation found the company's mortgage subsidiary violated U.S. Department of Housing and Urban Development regulations and the company made several accounting errors. (BZH) (Oct 12, 2007)

Beazer probe uncovers accounting gaffes, HUD violations (BizJournals)

GE Widens Accounting Review (AP via Yahoo! Finance)

General Electric Co. disclosed Friday that it widened its internal accounting review to include its health-care and aviation businesses, saying it adjusted earnings for some prior periods as a result. (Oct 12, 2007)

Southwestern Energy Controller and Chief Accounting Officer Stanley Wilson Sells 4,862 Shares (Canadian Business)

NEW YORK (AP) - The controller and chief accounting officer of Southwestern Energy Co., a natural gas exploration and production company, sold 4,862 shares of common stock, according to a Securities and Exchange Commission filing. (Oct 12, 2007)

Best-Managed Accounting Firms Named by IPA (SmartPros Accounting)

Oct. 15, 2007 A "best of the best" list just released from industry publication Inside Public Accounting (IPA) recognizes 25 U.S. accounting firms for their "wise management and superior operational performance." (Oct 13, 2007)

For the first time since 1992, Mexico has finished a five-year cycle of water accounting without owing the U.S. a ... (The Brownsville Herald)

For the first time since 1992, Mexico has finished a five-year cycle of water accounting without owing the U.S. a drop, Texas Commission on Environmental Quality officials said Friday. (Oct 13, 2007)

GE expands accounting review, adjusts earnings (The Indianapolis Star)

WASHINGTON -- General Electric Co. disclosed Friday it has widened its internal accounting review to include its health-care and aviation businesses. As a result of the accounting issues, the industrial and entertainment giant adjusted its 2006 fourth-quarter net income to $6.42 billion, or 62 cents a share, from a previously reported $6. (Oct 13, 2007)

Accounting chief at Datalis charged with $250,000 theft (The Record)

Kristy Yeck, 25, of Hillsdale was arrested Friday and accused of embezzling more than $250,000 from the Montvale-based Datalis Corp. Yeck, the technology company's human resources-accounting manager, was responsible for purchasing and payroll. (Oct 13, 2007)

Real estate accounting under lens (The Telegraph)

New Delhi, Oct. 13: The Securities and Exchange Board of India (Sebi) has asked the Institute of Chartered Accountants of India (ICAI) to clarify the accounting standards that real estate companies have to follow. (Oct 13, 2007)

ACCOUNTING CLERK MERIT MEDICAL (The Facts)

Systems, a medical device manufacturer is seeking someone with computer skills preferably spreadsheets, word processing, database and other applicable programs. Ability to perform basic accounting and clerical tasks of a repetitive nature accurately and quickly. (Oct 14, 2007)

Lady Lake gets top honor for municipal accounting, finance reports (Orlando Sentinel)

Lady Lake has been awarded a certificate of achievement for excellence in financial reporting by the Government Finance Officers Association of the United States and Canada. (Oct 14, 2007)

SMEs given reprieve on accounting requirements (Stuff)

Thousands of small and medium-sized businesses have received a last-minute reprieve from adopting complicated new international accounting rules. (Oct 14, 2007)

Accounting firms work to attract, retain new CPAs (BizJournals)

Accounting firms here are beefing up their efforts to recruit and retain young accountants, though few have taken steps that could keep partners working beyond a mandatory retirement age imposed by most large firms. (Oct 15, 2007)

ACCOUNTING CLERK MERIT MEDICAL (The Facts)

Majority of CFOs Want More Accounting Firm Choices, Believe That Greater Competition Will Increase Quality and Reduce ... (Business Wire via Yahoo! Finance)

CHICAGO----In a national survey of chief financial officers and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International, one of the six global accounting, tax and business advisory organizations, 56 percent think there are too few accounting firms to ensure competition, and 69 percent think more competition in the accounting profession would ... (Oct 15, 2007)

South Africa: New Public Sector Accounting Rules (AllAfrica.com)

A NEW accounting standard recently released by the International Public Sector Accounting Standards Board will hold government and public sector entities publicly accountable. (Oct 15, 2007)

Trintech Announces New Release of AssureNET GL Accounting Compliance Solution (PR Newswire via Yahoo! Finance)

Trintech Group Plc , a leading provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide, today announced significant enhancements in the new release of its accounting compliance software solution, AssureNET GL. (Oct 15, 2007)

Caterpillar names new accounting officer (Chicago Tribune)

Caterpillar Inc. Monday said its board approved the creation of a chief accounting officer position, and said it named Janie Copeland to the post, effective Dec. 1. (Oct 15, 2007)

Radian Group Inc. Announces Appointment of PricewaterhouseCoopers as Its New Independent Registered Public Accounting ... (PR Newswire via Yahoo! Finance)

Radian Group Inc. today announced that it has appointed PricewaterhouseCoopers LLP as the Company's new independent registered public accounting firm. PwC's engagement will begin after the departure of the Company's current auditor, Deloitte & Touche LLP. (Oct 15, 2007)

Caterpillar bestellt Chief Accounting Officer (OptionsscheineCheck)

Peoria (aktiencheck.de AG) - Der amerikanische Baumaschinenhersteller Caterpillar Inc. ( ISIN US1491231015 / WKN 850598 ) meldete am Montag, dass er Janie Copeland die neu geschaffene Position des Chief Accounting Officer (CAO) übertragen hat (Oct 15, 2007)

Force Protection Warns on Accounting (AP via Yahoo! Finance)

Armored vehicle maker Force Protection Inc. found material weaknesses in accounting system, according to a filing Monday with the Securities and Exchange Commission. (Oct 15, 2007)

Nortel Pays $35 Million to Settle SEC Inquiry Into Accounting (Bloomberg.com)

Oct. 15 (Bloomberg) -- Nortel Networks Corp., the biggest maker of telecommunications equipment in North America, will pay $35 million to settle regulatory claims it manipulated earnings between 2000 and 2003 under two accounting schemes. (Oct 15, 2007)

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