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Accounting News 02/2008



Federal judge rules United States botched trust accounting (Indian Country Today)
WASHINGTON (AP) - A federal judge ruled that the Interior Department has ''unreasonably delayed'' its accounting for billions of dollars owed to Indian landholders Jan. 30.

Nissan Q3 up on sales gains, accounting change (Reuters via Yahoo! Singapore News)
TOKYO, Feb 1 - Nissan Motor Co , Japan's third-biggest automaker, reported a 16 percent rise in quarterly profit on Friday, helped by a recovery in sales and some accounting changes.

Agency's poor accounting costly, audit says (Kingston Daily Freeman)
POUGHKEEPSIE - An audit of the Dutchess County Department of Mental Hygiene by County Comptroller Diana Jablonski's office found the agency failed to secure $5.5 million in state revenues it was owed because of deficiencies in internal controls and accounting processes.

French accounting regulator slams SocGen's monitoring methods (vnunet.com)
Penny Sukhraj, Accountancy Age , Friday 1 February 2008 at 00:00:00 Regulator says there is 'room for improvement' with the bank's monitoring systems France's accounting regulator, the Haut Conseil Du Commissariat aux Comptes, has criticised the quality of Société Générale's monitoring systems, saying the bank should 'improve' its methods.... >  Read the full article       ...

UI Accounting Team Earns $10,000, Spot Among Five Finalists (SmartPros Accounting)
Feb. 1, 2008 (The News-Gazette, Champaign-Urbana, Ill.) CHAMPAIGN -- Could you give a 12-minute presentation on whether a fictional country should stick with U.S. accounting standards or switch to international standards?

(AFX UK Focus) 2008-02-01 13:23 GMT: Germany's Steinbrueck plans to introduce stricter accounting rules for banks (Interactive Investor)
FRANKFURT (Thomson Financial) - As a consequence of the global credit crisis German Finance Minister Peer Steinbrueck wants to introduce stricter accounting standards for banks to prevent them from hiding risks off-balance, he said in an interview with Der Spiegel to be released Monday.

CalSTRS Seeks Investment Accounting Consultant (Business Wire via Yahoo! Finance)
SACRAMENTO, Calif.----The California State Teachers' Retirement System today launched a search for a consultant team to research, design and implement a best practice model for investment accounting and to provide appropriate training to CalSTRS employees in its operation.

CalSTRS Seeks Investment Accounting Consultant (Centre Daily Times)
The California State Teachers' Retirement System (CalSTRS) today launched a search for a consultant team to research, design and implement a best practice model for investment accounting and to provide appropriate training to CalSTRS employees in its operation.

SEC Chief: International Accounting On 2008 Agenda (Nasdaq)
WASHINGTON -(Dow Jones)- Securities and Exchange Commission Chairman Christopher Cox said Friday that he expects U.S regulators to consider devising a "roadmap" that could move U.S. firms from U.S. to international accounting.

Hiring Numbers Look Good At Accounting Companies Despite Uncertain Economy (CattleNetwork.com)
NEW YORK (Dow Jones)--While U.S. markets are getting squeezed, talk of recession continues, and Wall Street firms hand out pink slips by the hundreds, accounting firms are expected to buck the hiring trend.

SEC Chief Wants International Accounting (AP via Yahoo! Finance)
Federal regulators should consider devising a "roadmap" to move U.S. companies toward international accounting practices, SEC Chairman Christopher Cox said Friday.

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.

Hiring Good at Accounting Firms (AP via Yahoo! Finance)
While U.S. markets are getting squeezed and Wall Street firms hand out pink slips by the hundreds, accounting firms are expected to buck the hiring trend.

Drury Accounting Students Help with Taxes (KY3 Springfield)
Drury Accounting students help folks across the ozarks file 2007 taxes.

Hispanics (Washington Post)
ALBUQUERQUE -- Inside an accounting office-turned-volunteer hub in the southwestern part of this city, Evangeline Martinez-Donkersley made nearly 85 calls on behalf of Sen. Hillary Rodham Clinton. Sometimes in English, often in Spanish, the 70-year-old said, "Necesitamos su voto para Hillary...

St. Bonaventure program offers free tax services (The Buffalo News)
ALLEGANY — The St. Bonaventure Accounting Association and Students in Free Enterprise will man the St. Bonaventure University Volunteer Income Tax Assistance (VITA) program at the Olean Center Mall on weekdays from 10 a.m. to 8 p.m. until the April 15 filing deadline.

Custom Professional Accounting's office moves location (The Marion Star)
MARION - The office of Custom Professional Accounting has moved to 1714 Marion-Waldo Road, Suite A, according to a news release.

Firm says statements suspect (The Myrtle Beach Sun News)
Tommy Hix and Jeff Shoup included financial statements signed by a North Myrtle Beach accounting firm and printed on that firm's letterhead to support their application for a $750,000 loan from a group of Arizona investors, according to documents obtained by The Sun News.

Democrats strike gold in California (Los Angeles Times)
More than 20% of the money raised by the party's presidential candidates in '07 came from the state. The GOP hopefuls, about 10% of their national haul. California was by far the Democratic presidential candidates' most lucrative source of campaign money in 2007, accounting for more than 1 in 5 of the millions of dollars they raised, campaign finance reports show.

Deltek Expands Reach Into Project Accounting Market Through New Channel Partnership With Software Link, Inc. (Centre Daily Times)
Deltek, Inc. (NASDAQ:PROJ), the leading provider of enterprise applications software for project-focused organizations, today announced that it has signed Atlanta, Georgia based Software Link, Inc. as a new business partner to expand the company's reach into the project accounting market.

Kenya: Mid-Sized Audit Firms Take On the 'Big Four' (AllAfrica.com)
Just a few years ago, the dominance of the multinational accounting firms in Kenya seemed unshakeable.

McCreevy and Cox honoured by EU/US business (Addict 3D)
Penny Sukhraj, Accountancy Age , Monday 4 February 2008 at 00:00:00 McCreevy says EU will continue to focus on accounting, auditing, reinsuranceand mutual recognition of securities and that existing files in the financialmarkets regulatory dialogue would not be affected by recent market turmoil Charlie McCreevy and Christopher Cox have been lauded with the prestigious Atlantic Leadership Award ...

Simply Accounting by Sage Premium 2008 Prepares Students for Real World Accounting (Marketwire via Yahoo! Finance)
Sage Software announced today the availability of Simply Accounting by Sage Premium 2008 - Education Version, which introduces real accounting to students at high schools and post-secondary educational institutions throughout Canada, and lays the foundation for preparing them for careers as accountants or bookkeepers. Released annually to more than 3,000 schools across Canada through the Simply ...

Deltek to Provide Vision Software to Multi-Disciplinary Survey Engineering Company (ThomasNet)
Challenger Geomatics Ltd. to Switch to Deltek's Project-Based Accounting and Planning Software Herndon, VA (December 11, 2007) - Deltek, Inc. (NASDAQ: PROJ), the leading provider of enterprise applications software for project-focused organizations, today announced that Challenger Geomatics Ltd. has selected Deltek Vision to streamline its accounting and planning processes. The Western Canadian ...

A day in the life of a tax preparer (The Courier Express)
DuBOIS - 'Tis the season for W-2s, 1040s, 1099s and a lot of aspirin because tax time is here again. Rob Spicher of RTS Accounting Service is one of many people who try to make the dreaded tax preparation a little easier.

Thomson Tax & Accounting Launches OneSource Tax (PR Newswire via Yahoo! Finance)
Thomson Tax & Accounting, a segment of The Thomson Corporation , has released OneSource Tax, a portal interface designed to help corporate tax departments easily access tax tools, manage workflows, and track key information.

Accounting and Consultancy (Mondaq)
When you place a bet on a horse in a horse race, you know that you might lose your money. When your horse finishes nowhere, you might be disappointed, but you go into it with your eyes open and accept that there was always a risk that this might happen.

Lipscomb accounting professor named to national Auditing Standards Board (BizJournals)
Charles Frasier, professor and department chair of accounting at Lipscomb, is the newest member appointed to the Auditing Standards Board (ASB), a national committee devoted to setting auditing standards for private and independent companies.

SDD Completes Deployment of Call Accounting Software as a Service (SaaS) for Hilton UK and Ireland Properties (Hospitality Net)
Hilton Hotels has transformed its approach to delivering telephone accounting and call logging software. Hilton now provides call accounting capabilities to its UK and Ireland hotel managers as a centrally-hosted software service using SDD's JAZZ Fusion.

Survey of 1200 U.S. Accounting Educators Rates Grant Thornton LLP as Best National Accounting Firm for Work-Life Balance (PR Newswire via Yahoo! Finance)
In Public Accounting Report's 26th Annual Survey of Accounting Professors, Grant Thornton LLP topped the list of national accounting firms as the best for work-life balance.

CFOs at U.S. Technology Businesses Feel New Accounting Rule Puts Them at Competitive Disadvantage According to BDO ... (wallstreet:online AG)
According to a new survey by BDO Seidman, LLP, one of the nation´s leading accounting and consulting

CFOs at U.S. Technology Businesses Feel New Accounting Rule Puts Them at Competitive Disadvantage According to BDO ... (Centre Daily Times)
According to a new survey by BDO Seidman, LLP, one of the nation's leading accounting and consulting organizations, half (49%) of all chief financial officers at U.S. technology businesses surveyed feel they are at a competitive disadvantage to their foreign counterparts due to a new accounting rule that allows foreign competitors to report their financial results under International Financial ...

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.

Catapult Communications Changes Accounting Firms to Reduce Expenses (ThomasNet)
Mountain View, CA-January 4, 2008- Catapult Communications Corporation (Nasdaq: CATT) today announced that, in order to significantly reduce its accounting expenses, it has dismissed its previous independent registered public accounting firm, Deloitte & Touche LLP, and has engaged the firm of Stonefield Josephson, Inc. The Company has had no disagreements with Deloitte & Touche LLP during their ...

Boston Accounting Seminar Offers Best Practices for Day Trading and Taxes (Business Wire via Yahoo! Finance)
BOSTON----Traders Accounting, the largest online resource for day trading and tax planning services, announced the new Traders Accounting Seminar series where executives from the company are traveling to Boston to present to people who are starting up a day trading business as well as beginning traders.

Boston Accounting Seminar Offers Best Practices for Day Trading and Taxes: From Starting Up a Day Trading Business to ... (PRWeb)
Traders Accounting, the largest online resource for day trading and tax planning services, announced the new Traders Accounting Seminar series where executives from the company are traveling to Boston to present to people who are starting up a day trading business as well as beginning traders. The February 4th event will be held at The Online Trading Academy. (PRWeb Feb 5, 2008) Post ...

Boston Accounting Seminar Offers Best Practices for Day Trading and Taxes (Centre Daily Times)
Traders Accounting, the largest online resource for day trading and tax planning services, announced the new Traders Accounting Seminar series where executives from the company are traveling to Boston to present to people who are starting up a day trading business as well as beginning traders. The February 4th event will be held at The Online Trading Academy.

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.

UALR Business College to Offer 2 New Accounting Degrees (Arkansas Business)
The University of Arkansas at Little Rock says that beginning this summer, its business college will begin offering courses for two new accounting master's degree programs.

Thomson Tax & Accounting Launches OneSource Tax (SmartPros Accounting)
Feb. 6, 2008 (SmartPros) Thomson Tax & Accounting, a segment of The Thomson Corporation, has released OneSource Tax, a portal interface designed to help corporate tax departments easily access tax tools, manage workflows, and track key information.

5 jobs in accounting (The Indianapolis Star)
Accountants label mid-January to April 15 (the tax filing deadline) as "busy season." But many individuals and companies need accountants year-round.

Next wave of subprime credit write-downs on horizon (International Herald Tribune)
The chief executive of PricewaterhouseCoopers, the accounting firm, has said that he expects more nonfinancial U.S. companies to report write-downs linked to the credit crisis.

Four51 Offers New Integrated SAP Accounting and Business Management System at No Cost (Marketwire via Yahoo! Finance)
Four51, Inc. announced today a groundbreaking move to offer its world-class B2B technology and commerce platform with integrated SAP accounting at no cost for buyers and sellers of indirect goods.

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.

Chicago-Based Accounting Firm Opens Office in Beverly Hills (PR Newswire via Yahoo! Finance)
Friedman, Weissman & Associates, P.C., a full-service accounting firm, specializing in entertainment tax and accounting, fraud prevention, tax preparation and work with family owned businesses, announced today the opening of its Beverly Hills office on Olympic Boulevard.

Former KPMG Consulting Principal Settles SEC Charges for Role in Peregrine Accounting Fraud (U.S. Securities and Exchange Commission)
Washington, D.C., Feb. 6, 2008 - The Securities and Exchange Commission today filed a settled enforcement action against a former principal and managing director of KPMG Consulting LLC for his role in deceiving investors in a major corporate accounting fraud.

IOSCO urges companies to provide investors with clear accounting info (Investment Executive)
The International Organization of Securities Commissions (IOSCO) published a statement today urging publicly traded companies to provide investors with clear and accurate information on the accounting standards used in the preparation of their accounts.

Blunt Downplays Accounting Scandal (CBS News)
A top House Republican acknowledged on Wednesday that an emerging accounting scandal at the party’s campaign committee could be “a very short-term distraction” for members and aides.

SU: Accounting student wins Chick-fil-A national Leadership Scholarship (The Daily Times)
SALISBURY — James Onley, a city resident studying accounting at Salisbury University, has won a $1,000 national Leadership Scholarship from his employer, Chick-fil-A, Inc., the restaurant chain announced this week.

U.S. rebuilding aid in Iraq winding down (USA Today)
Nearly all of the $20.9 billion Congress approved for large-scale rebuilding projects in Iraq has been spent, as the United States shifts its focus to providing the training and tools Iraqis need to govern themselves, the latest U.S. accounting shows.