Accounting News 01/2008 (Page 2)

Accounting firm shortens name (BizJournals)

Accounting and consulting firm Rachlin Cohen & Holtz LLP said it has changed its name to Rachlin LLP, effective immediately. (Jan 7, 2008)

US envoy urges full declaration from NKorea (AFP via Yahoo! News)

Chief US nuclear envoy Christopher Hill called Tuesday on North Korea to provide a complete account of its weapons programmes, saying its partners in six-nation talks were expecting a full accounting. (Jan 8, 2008)

APPOINTMENTS (Washington Post)

Sentel of Alexandria named Albert Graves , former senior director of financial planning for the General Dynamics information technology, director of accounting; and Don Bromell contracts manager. (Jan 8, 2008)

Survey discovers auto execs more optimistic (Chicago Tribune)

Auto executives worldwide are more optimistic about their business than in past years because their mission has become clear -- produce quality, fuel-efficient vehicles -- according to an annual poll conducted by the accounting and advisory firm KPMG LLP. (Jan 8, 2008)

UPDATE: KB Home 4Q Loss Widens On Tax-Accounting Charge (Nasdaq)

KB Home's (KBH) fiscal fourth-quarter net loss ballooned as the company took a big tax charge, hinting it doesn't expect to be profitable any time soon. (Jan 8, 2008)

Streamline Health Solutions Selects BDO Seidman as New Independent Registered Public Accounting Firm (PR Newswire via Yahoo! Finance)

Streamline Health Solutions, Inc. , a leading provider of integrated document management and workflow solutions, announced today that it has engaged BDO Seidman, LLP as the Company's Independent Registered Public Accounting Firm, effective immediately, for the fiscal year ending January 31, 2008. (Jan 8, 2008)

ACCOUNTING GRADUATE EMPLOYMENT DESTINATIONS AND COMMITMENT TO CPD: A STUDY FROM TWO AUSTRALIAN UNIVERSITIES (Accounting Education)

Abstract This study examined the main fields of employment as well as attitudes toward continuing professional development (CPD) and preferred employment of recent Australian accounting graduates. (Jan 8, 2008)

Du Quoin Accounting Firm on Just-Passed Tax Law Changes (Du Quoin Evening Call)

DU QUOIN - Just before departing for the holidays, Congress passed three new laws that include significant tax changes. According to Harold Emling of the accounting firm Emling & Hoffman of Du Quoin, here are the changes. (Jan 8, 2008)

New accounting rules could change schools (Park Rapids Enterprise)

The Park Rapids Schools and almost every other school district in the state will be paying consultants to tell them how much money they have to spend to comply with new accounting rules. (Jan 8, 2008)

EU adopts rules to determine equivalence of accounting standards (People's Daily)

The European Commission said Tuesday it had adopted rules to determine equivalence of foreign accounting standards. The new regulation, approved by the commission on Dec. 21, 2007,sets out an assessment mechanism on whether Generall ... (Jan 8, 2008)

EU adopts rules to determine equivalence of accounting standards (People's Daily)

EU adopts rules to determine equivalence of accounting standards (Budapest Business Journal)

The European Commission said Tuesday it had adopted rules to determine equivalence of foreign accounting standards. (Jan 9, 2008)

Woman on the Beach (2006) (New York Times)

From left, Kim Seung-woo, Ko Hyun-joung and Kim Tae-woo. About 10 minutes into “Woman on the Beach,” a bittersweet accounting of the geography of desire from the South Korean director Hong Sang-soo, two men and a woman stand staring into the sea. (Jan 9, 2008)

SunGard Receives Top Honors for Fund Administration and Accounting in Financial-i's 'Leaders in Innovation' Awards for ... (PR Newswire via Yahoo! Finance)

SunGard today announced that its Asset Arena Investment Accounting solution has been named the most innovative fund administration and accounting solution by Financial-i in the magazine's second annual "Leaders in Innovation" awards. (Jan 9, 2008)

SunGard Receives Top Honors for Fund Administration and Accounting in Financial-i's 'Leaders in Innovation' Awards for ... (Broadcast Newsroom)

LOMBARD, Ill., Jan. 9 /PRNewswire/ -- SunGard ( http://www.sungard.com ) today announced that its Asset Arena Investment Accounting solution has been named the most innovative fund administration and accounting solution by Financial-i in the magazine's second annual "Leaders in Innovation" awards. (Jan 9, 2008)

Accounting Principals Releases 2008 Salary Guide (Centre Daily Times)

Accounting Principals, the accounting and finance solutions unit of MPS Group Inc. (NYSE:MPS), today announced the release and availability of the 2008 Salary Guide for Accounting and Finance Professionals. (Jan 9, 2008)

Accounting rules will hit profits (FT.com via Yahoo! News)

Companies will have to change the way acquisition costs are handled under new accounting rules - a move that will hit profits and could damp the urge for mergers. (Jan 9, 2008)

St. Petersburg accounting firms merge (Business Journal of Tampa Bay)

Two public accounting firms have pooled their resources. (Jan 9, 2008)

Banks look to US accounting (Financial Times)

European banks are considering adopting detailed US-style disclosures of how they value financial instruments, going above and beyond the actual accounting requirements in a bid to help calm jittery investors. (Jan 9, 2008)

New accounting rule will highlight merger expenses (Reuters via Yahoo! UK & Ireland News)

Costs associated with company mergers will have to be set against profits under a new accounting standard published on Thursday as part of a landmark move to make transatlantic capital markets more efficient. (Jan 9, 2008)

Banks eye US accounting standards (vnunet.com)

AccountancyAge.com, Accountancy Age , Thursday 10 January 2008 at 00:00:00 European banks are considering adopting detailed US-style accounting disclosures European banks are considering adopting detailed US-style disclosures in an effort to calm jittery investors who have driven down the value of bank shares in the last months because of... > Read the full article ... (Jan 10, 2008)

Accounting rule makes cost of merger fees (Accountancy Age)

Costs associated with company mergers will have to be set against profits under changes to accounting standard published today as part of a landmark initiative to make transatlantic capital markets more efficient. (Jan 10, 2008)

Accounting rule makes cost of merger fees (vnunet.com)

AccountancyAge.com, Accountancy Age , Thursday 10 January 2008 at 00:00:00 Costs associated with company mergers will have to be set against profits under changes in accounting standards Costs associated with company mergers will have to be set against profits under changes to accounting standard published today as part of a landmark initiative to make transatlantic capital markets... ... (Jan 10, 2008)

Peer pressure 'won't achieve Prince's green accounting aims' (Accountancy Age)

Companies may have to be forced to adopt green accounting, a charity has said, even given the enthusiastic reception to Prince Charles’ report into environmental reporting. (Jan 10, 2008)

SEC Chairman Sees Push Toward International Accounting, XBRL (Nasdaq)

WASHINGTON -(Dow Jones)- U.S. regulators are pushing for accounting and regulatory changes that would lower barriers to global investment, Securities and Exchange Commission Chairman Christopher Cox said Thursday in remarks to the American Institute of Certified Public Accountants. (Jan 10, 2008)

SEC Seeks Global Accounting Standard (AP via Yahoo! Finance)

U.S. regulators are pushing for accounting and regulatory changes that would lower barriers to global investment, Securities and Exchange Commission Chairman Christopher Cox said Thursday. (Jan 10, 2008)

US Accounting Standard Setter Favors Pulling Plug On GAAP (Nasdaq)

WASHINGTON -(Dow Jones)- The top standard setter for U.S. accounting rules thinks the nation's public companies should shift to international accounting rules in the next five to seven years, effectively pulling the plug on U.S. generally accepted accounting principles, or U.S. GAAP. (Jan 10, 2008)

Accounting firms merge (BizJournals)

Accounting firm Goldstein Schechter Price Lucas Horwitz & Co. said it has merged with Koch Reiss & Co. (Jan 10, 2008)

Audit notes progress in Dallas Housing Authority's accounting (Dallas Morning News)

An audit of the Dallas Housing Authority released Thursday found that the agency has corrected several accounting problems identified in a previous audit. (Jan 11, 2008)

Local firm wins accounting honor (Wichita Falls Times Record News)

Local firm wins accounting honor (Jan 11, 2008)

Beauty shops, accounting firm latest victims in burglaries (The Gleaner)

Beauty shops, accounting firm latest victims in burglaries (Jan 11, 2008)

Bridging the Global Accounting Standards Gap (E-Commerce Times)

On Nov. 15, the Securities and Exchange Commission took a first step to drawing a road map towards use of globally accepted accounting standards by voting unanimously to allow foreign companies to file financial results using international financial reporting standards without reconciling the figures to U.S. generally accepted accounting principles. (Jan 11, 2008)

U.S. again urges North Korea to complete its nuclear accounting (International Herald Tribune)

The North's position has created uncertainty about the Bush administration's efforts to get it to abandon all its nuclear assets. (Jan 11, 2008)

Get Peachtree Pro Accounting 2008 free after rebate (CNET)

Staples is offering the latest version of Peachtree Pro, a small-business accounting suite, for free after a $140 mail-in rebate. (Jan 11, 2008)

Outlook 2008 (The watch list): Accounting (Canadian Business)

There’s no doubt implementing Sarbanes-Oxley was a headache, but accountants are bracing for a migraine as Canada moves to replace its current accounting rules and adopt new international financial reporting standards (IFRS). The transition away from Canadian generally accepted accounting principles (GAAP) should take place in 2011, and it may force most public companies to recalculate nearly ... (Jan 11, 2008)

No fraud in $152 million accounting shortfall, Ace reports (Chicago Tribune)

An independent investigation into a $152 million accounting shortfall at Ace Hardware Corp. concluded that the hardware retailer's problems with its books stemmed from a lack of controls and human error over a period of years, Ace CEO Ray Griffith said Friday in an interview with the Chicago Tribune. (Jan 11, 2008)

Syntura Finds Accounting Errors (AP via Yahoo! Finance)

Syntura International Inc. has concluded its financial statements since 2003 are unreliable because of accounting errors, the dairy products maker said Friday. (Jan 11, 2008)

SEC Panel Urges Major Accounting Changes (AP via Yahoo! Finance)

A Securities and Exchange Commission advisory group voted Friday to approve recommendations for wholesale changes in U.S. accounting and financial reporting. (Jan 11, 2008)

Ace employee makes $152 million accounting error (Chicago Sun-Times)

Ace Hardware discovered that a mid-level employee made innocent but enormously expensive and incorrect entries in ledger books that eventually led to a $152 million accounting error, Ace Hardware CEO Ray Griffith said today. (Jan 11, 2008)

Vita engages new independent public accounting firm (Food Business Review)

Vita Food Products has engaged Frank L Sassetti & Company as the companys independent public accounting firm, effective immediately, to audit Vitas financial statements for the fiscal year ending December 31, 2007. (Jan 12, 2008)

Du Quoin Accounting Firm on Just-Passed Tax Law Changes (Du Quoin Evening Call)

Ace employee's error leads to multimillion-dollar accounting error (The Courier News)

Ace Hardware suffered $152 million accounting mistake (WQAD Moline)

OAK BROOK, Ill. (AP) - Officials of Ace Hardware say they have discovered that a mid-level employee at the chain's Oak Brook headquarters made innocent but enormously expensive and incorrect entries in ledger books that eventually led to a $152 million accounting error. (Jan 12, 2008)

Accounting gaffe to cost Ace Hardware millions (The Pantagraph)

OAK BROOK -- Officials of Ace Hardware say they have discovered that a mid-level employee at the chain's Oak Brook headquarters made innocent but enormously expensive and incorrect entries in ledger books that eventually led to a $152 million accounting error. (Jan 13, 2008)

Advisory group to push for wholesale changes in U.S. accounting and financial reporting (The Salt Lake Tribune)

WASHINGTON - A Securities and Exchange Commission advisory group has decided to push for wholesale changes in U.S. accounting and financial reporting. Among the changes unanimously backed by the panel: base U. (Jan 13, 2008)

Arxis Technology Principal Selected as One of the "Top 100 Most Influential People" in Accounting David Cieslak ... (PRWeb)

David Cieslak, CPA, CITP, Principal of Arxis Technology, Inc., was recently chosen by Accounting Today as a member of their "Top 100 Most Influential People" in the accounting profession. As a part of the fourteenth annual Top 100 list, Cieslak joins leading CPAs, attorneys, regulators, politicians, educators, and vendor representatives from around the United States. (PRWeb Jan 13, 2008) (Jan 13, 2008)

Accounting gaffe to cost Ace Hardware millions (The Pantagraph)

No Fraud in $152M Accounting Shortfall, Ace Reports (SmartPros Accounting)

Jan. 14, 2008 (Chicago Tribune) An independent investigation into a $152 million accounting shortfall at Ace Hardware Corp. concluded that the hardware retailer's problems with its books stemmed from a lack of controls and human error over a period of years, Ace CEO Ray Griffith said Friday in an interview with the Chicago Tribune. (Jan 14, 2008)

Google Sees Surge in iPhone Traffic (New York Times)

Google and Yahoo say iPhones are accounting for a disproportionate amount of Web traffic to their sites from mobile devices. (Jan 14, 2008)

Cleveland accounting firm snags Schneider Downs partner (BizJournals)

A former shareholder in the Columbus office of Schneider Downs & Company Inc. has left the accounting firm to open an office for a Cleveland-based firm. (Jan 14, 2008)

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