Online Accounting and Tax Resources

Custom Search

Home

Accounting News

Home Security News Feb 2009

Custom Search

Mar 2010 | Feb 2010 | Jan 2010 | Dec 2009 | Nov 2009 | Oct 2009 | Sep 2009 | Aug 2009 | Jul 2009 | Jun 2009 | May 2009 | Apr 2009 | Mar 2009 | Feb 2009 | Jan 2009 | Dec 2008 | Nov 2008 | Oct 2008 | Sep 2008 | Aug 2008 | Jul 2008 | Jun 2008 | May 2008 | Apr 2008 | Mar 2008 | Feb 2008 | Jan 2008 | Dec 2007 | Nov 2007 | Oct 2007 | Sep 2007 | Aug 2007 | Jul 2007 | Jun 2007 | May 2007

Previous 1 2

Bank throws accounting firm out on its touche
Rockville Financial Inc., the Vernon-based corporate parent of Rockville Bank, has terminated its accounting firm, New York-based Deloitte & Touche LLP, according to a filing Wednesday with the Securities and Exchange Commission. (Sun, 22 Feb 2009 06:50:46 GMT)

Try free accounting software
Question: I own and run a small boarding kennel. I need a bookkeeping program. I have no employees, so I don't need anything complicated. Are simple programs available? (Sun, 22 Feb 2009 08:41:10 GMT)

Satyam gets new orders; auditor resigns; investor process planned
Satyam Computer Services Ltd., the Hyderabad, India, provider of consulting and information-technology services, says that since its accounting crisis came to light on Jan. 7, it has received $250 million of new and extended orders. (Sun, 22 Feb 2009 08:55:34 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, 22 Feb 2009 11:09:09 GMT)

Top-10 firms lose Rs 63k cr in a week; RIL leads fall
The country's top 10 firms lost over Rs 63,000 crore from their market capitalisation last week, with Reliance Industries (RIL) alone accounting for over one-third of the value erosion of the premier club. (Sun, 22 Feb 2009 13:44:09 GMT)

Flashback February 21, 2000-2002
If it is any consolation to the harsh accusations hurled by the federal government against the Commonwealth's heavy reliance on foreign labor, the United States General Accounting Office has reported positive developments in the CNMI economy buoyed by the presence of guest workers in the islands. (Sun, 22 Feb 2009 14:17:32 GMT)

Dim outlook for India's outsourcing sector (Business Times
MUMBAI: India's software sector, reeling from a huge accounting fraud in one of its flagship companies, faces further problems as US firms scale back in a troubled global business environment, analysts said. (Sun, 22 Feb 2009 16:22:41 GMT)

Accounting firms experience season of change, not all bad
Even though companies are shedding jobs and shutting their doors, accountants know this sobering truth: “Change usually creates demand for services like ours.” (Mon, 23 Feb 2009 05:30:55 GMT)

Accounting clients urged to be bold and not cut marketing budgets
It’s not marketing materials, it’s thought leadership at Ernst & Young LLP. (Mon, 23 Feb 2009 06:09:20 GMT)

Accountants hold off on switch to international standards
A challenging economy has applied the brakes to a globalization of U.S. accounting standards, which had been speeding along. (Mon, 23 Feb 2009 07:46:22 GMT)

Microsoft a Little Too Generous with Severance Pay, Wants Some of it Back
Accounting error sees HR scrambling to get some of its money back... (Mon, 23 Feb 2009 14:10:04 GMT)

Microsoft Asks for Some Severance Money Back
An accounting error by Microsoft has reportedly led the world's largest software maker to notify some laid off employees last week that they would need to give back part of their severance pay. (Mon, 23 Feb 2009 14:44:23 GMT)

Berkshire Hathaway Dogged by Derivatives, Accounting Rules
Shares of Warren Buffett's Berkshire Hathaway Inc. sank last Friday to their lowest level in 5-1/2 years amid concern the insurance and investment company could suffer big losses from bets on ... (Mon, 23 Feb 2009 14:56:26 GMT)

New York Regulator 'Reminds' Insurers about Accounting Requirements
New York Insurance Department Superintendent Eric Dinallo issued a reminder last week that insurance companies must file annual financial reports or supplements that comply with the accounting ... (Mon, 23 Feb 2009 15:11:37 GMT)

Fire Starts At Closed Accountant’s Office
An early morning fire at an accounting business remains under investigation. (Mon, 23 Feb 2009 15:34:10 GMT)

FASB Initiates Projects to Improve Measurement and Disclosure of Fair Value Estimates
The projects were added in response to recommendations contained in the Securities and Exchange Commission's (SEC) recent study on mark-to-market accounting, as well as input provided by the FASB's Valuation Resource Group, a group of valuation and accounting professionals who provide the FASB staff and Board with information on implementation issues surrounding fair value measurements used for ... (Mon, 23 Feb 2009 16:12:38 GMT)

Obama slams Bush budget 'dishonesty'
President Barack Obama opened Monday’s economic summit by taking aim at the “casual dishonesty” of Bush administration budgets Monday, saying he’ll abandon accounting “tricks” used to hide the ballooning deficit and pledging to cut a $1.3 trillion federal shortfall in half during his first term. (Mon, 23 Feb 2009 19:10:00 GMT)

LDP lawmaker reveals accounting irregularity at foundation she heads
OSAKA (Kyodo) Liberal Democratic Party lawmaker Nobuko Iwaki admitted Monday that a foundation she heads moved ¥340 million of its debts off its books in what appears to be irregular accounting. The debts taken off the books of Japanese Children Goodwill Cruise relate to a loan of some ¥360 million the foundation received in 1988 from a school corporation also headed by Iwaki to purchase a ... (Mon, 23 Feb 2009 20:56:31 GMT)

Accounting a growth industry in West
The top industry in the western United States, including Colorado, in 2008 was accounting and the worst was legal services, according to a recent report by Sageworks Inc. (Mon, 23 Feb 2009 22:03:33 GMT)

Study seeks minor changes to accounting practices
SALEM — The long-awaited Community Library audit came Monday without surprises or huge red flags — only a few suggestions for how to improve its accounting practices. (Tue, 24 Feb 2009 06:43:19 GMT)

State audit faults Arlington's sloppy accounting
ARLINGTON -- Serious problems with accounting procedures opened the door for the city to be a victim of embezzlement, a report released Monday by the Washington State Auditor's Office indicates. (Tue, 24 Feb 2009 08:13:14 GMT)

Why Mark-To-Market Accounting Rules Must Die
They eliminate the time and growth needed to fix the economy. (Tue, 24 Feb 2009 11:15:23 GMT)

Microsoft rethinks its handling of severance glitch
On Monday, we told you about a report that Microsoft, responding to an accounting glitch, was trying to get back some severance pay from some recently fired employees. Initially, the company kept largely mum on the report, preferring to treat it as a private matter. This morning, we got an email from a Microsoft spokesperson updating us on the issue:Last week, 25 former Microsoft employees were ... (Tue, 24 Feb 2009 13:01:51 GMT)

Stephen Bartlett Joins Accounting Management Solutions as First Director of Resource Management
Accounting Management Solutions, Inc., a leading provider of accounting, financial management, and consulting services to private, public, and nonprofit organizations, today announced the appointment of Stephen Bartlett to the newly created position of director of resource management. (Tue, 24 Feb 2009 13:30:00 GMT)

Free Education Program From Sage Prepares Canadian Students for Accounting and Business Careers
Sage North America has expanded its Sage Educational Partner Program for Canadian schools with the availability of free copies of Sage Accpac ERP - Student Version to students participating in the training program. Sage has partnered with Canadian schools for many years to offer students classroom training on the most current versions of Canada's most recommended accounting software: Sage ... (Tue, 24 Feb 2009 17:02:00 GMT)

FinLab Unveils New Liquidity, Subscription And Transaction Views For Shadow Accounting Providing Greater Transparency ...
FinLab SA is pleased to announce the release of the next generation of PackHedge™, an integrated software solution for investment data management, research, analysis, asset allocation modeling, portfolio management, Fund of Funds shadow accounting, due diligence and report publishing. In addition to a redesigned user-interface, PackHedge™ v4.0 features enhanced functionality to its Fund of ... (Wed, 25 Feb 2009 07:01:00 GMT)

World to move towards uniform accounting
25 February 2009 A number of UAE companies want to shift over to International Financial Reporting Standards (IFRS) for getting financial reports audited, says David Furst, the President of the Institute of Chartered Accountants of England and Wales (ICAEW). Furst, who was in Dubai to launch the Certificate in Business Accounting Course, said ICAEW can help the UAE promulgate a federal ... (Wed, 25 Feb 2009 07:52:07 GMT)

Report: Investors gamble on clean tech
Investors are gambling on green energy, pouring $4.1 billion into fledgling clean technology companies last year, an accounting firm concludes. But 2009 could produce a "crippling retrenchment" without government help. (Wed, 25 Feb 2009 08:24:45 GMT)

Clean-Tech Start-Ups Need Stimulus, Too
Clean technology start-ups desperately need the money that President Obama promised the sector in the stimulus plan, said a report Wednesday from the accounting firm PricewaterhouseCoopers. (Wed, 25 Feb 2009 12:24:43 GMT)

New Stonefield Query Database Reporting Software Lets Every User of Major Accounting and Database Programs Create ...
ORLANDO, Fla. & REGINA, Saskatchewan----Stonefield Software's newest database reporting software, Stonefield Query, makes it possible for non-technical managers and others to create custom reports from virtually any database or accounting software, generally in less than 60 seconds - and to do so without IT support. (Wed, 25 Feb 2009 13:01:00 GMT)

Gerlach wants bank accounting rules suspended
NORRISTOWN — In an effort to stimulate banks to lend money, U.S. Rep Jim Gerlach has asked Treasury Secretary Timothy Geithner to temporarily suspend "mark to market" accounting rules until the economy improves. (Wed, 25 Feb 2009 15:36:17 GMT)

Citigroup Bailout Changes Aimed at Accounting
The latest alterations Citigroup is reportedly seeking to its federal bailout may be aimed in large part at improving its tangible common equity, a more conservative measure of capital. (Wed, 25 Feb 2009 15:51:20 GMT)

Heads Of Small Cos Urge Congress To Ease Pension Accounting Rules
WASHINGTON -(Dow Jones)- U.S. small business executives are urging Congress to ease pension accounting rules, pleas prompted by unheeded requests from business advocate groups to have relief included in President Barack Obama's economic stimulus plan. (Wed, 25 Feb 2009 19:31:03 GMT)

Bernanke Says Mark-to-Market Accounting Rule Should Be Improved
Feb. 25 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said accounting standard-setters need to figure out how the mark-to-market rule blamed for worsening the global financial crisis should be followed when assets aren’t readily traded. (Wed, 25 Feb 2009 21:43:17 GMT)

City to fix accounting system after audit exposed ‘shortcomings’
A CITY has pledged to improve its accounting system which tracks millions of euro in development charges after “shortcomings” were exposed in an audit. (Thu, 26 Feb 2009 03:26:29 GMT)

County axes three positions, accounting office
Eight days from today, three Wexford County employees will be out of work. Wexford County commissioners voted Wednesday to eliminate the General Accounting Office. (Thu, 26 Feb 2009 04:13:48 GMT)

Accounting changes hit Stoneridge bottom line
HOWLAND - Accounting changes to recognize reduced asset values drove Stoneridge to a $108.4 million, or $4.63 per share, loss in its fourth quarter, although the auto parts maker said Wednesday it managed a 29.5 percent profit gain from continuing operations for the year. (Thu, 26 Feb 2009 05:39:24 GMT)

Gerlach pitches suspending accounting rules to get banks lending again
Journal Register News Service NORRISTOWN — In an effort to stimulate banks to lend money, U.S. Rep Jim Gerlach has asked Treasury Secretary Timothy Geithner to temporarily suspend "mark to market" accounting rules until the economy improves. (Thu, 26 Feb 2009 11:38:04 GMT)

EU to scrap some small business accounting rules
European Union regulators suggested scrapping financial reporting requirements for small companies, saying they shouldn't have to file the same kind of annual accounts or do the same regular audits as large firms. (Thu, 26 Feb 2009 13:21:28 GMT)

Budget an 'honest' accounting of US economic plight: Obama
US President Barack Obama said Thursday his new 2010 budget was an "honest" accounting of the US economic situation, but warned "hard choices" on spending lay ahead. (Thu, 26 Feb 2009 15:25:03 GMT)

Obama submits budget blueprint
President Obama on Thursday presented a budget that he said is an "honest accounting of where we are and where we intend to go." (Thu, 26 Feb 2009 15:32:33 GMT)

UI team takes top honors in national accounting competition
CHAMPAIGN – The second time proved a charm. Last year, a team of University of Illinois accounting students reached the finals of PricewaterhouseCoopers' xTREME Accounting competition. This year, a UI team won the whole thing. (Thu, 26 Feb 2009 16:10:21 GMT)

ICAEW REPSONDS TO EU ANNOUNCEMENT ON SMALL BUSINESS ACCOUNTING AND CALLS FOR PUBLIC DEBATE
The Institute of Chartered Accountants in England and Wales (ICAEW) has called for a thorough debate to ensure that EU simplification proposals have a positive impact on the UK business environment. It comes as the European Commission today published a proposal to exempt micro-entities (companies with fewer than 10 employees) from EU accounting obligations.... (Thu, 26 Feb 2009 16:46:47 GMT)

New General Accounting Principles for SMEs launched
The General Accounting Principles for Smaller Entities (GAPSE) were launched on Friday morning by Finance Minister Tonio Fenech in an attempt to reduce the regulatory burden for Small and Medium Sized Enterprises. These principles are meant to reduce the audit and financial statement reporting requirements of smaller and medium-sized companies to a more realistic requirement. [...] (Fri, 27 Feb 2009 11:50:16 GMT)

Bangladesh mutiny ends
Bangladesh Prime Minister Sheikh Hasina drew praise on Friday for bringing a swift end to a mutiny by paramilitary troops who slaughtered scores of their officers accounting for most of a death toll now put at more than 70. (Fri, 27 Feb 2009 14:22:21 GMT)

Conn. town sues accounting firm over Madoff losses
A Montvale-based accounting firm has been sued by Fairfield, Conn., officials after the town lost $42 million in municipal pension money it invested with the disgraced New York financier Bernard Madoff. (Fri, 27 Feb 2009 14:47:54 GMT)

Mark-to-market accounting leads to distortions during financial crisis: report
Banks and insurers should mark their assets to market in most normal circumstances, says a report published by the C.D. Howe Institute, but not amid financial crises. (Fri, 27 Feb 2009 15:45:46 GMT)

Rep Kanjorski Seeks To Expand Accounting Board's Auditor Oversight
WASHINGTON -(Dow Jones)- Legislation introduced by Rep. Paul Kanjorski, D-Pa., would help give the Public Company Accounting Oversight Board the authority to examine, inspect and discipline all auditors of broker-dealers. (Fri, 27 Feb 2009 20:45:56 GMT)

Senate panel to probe interrogations, in secret
Responding to calls for an accounting of prisoner abuses in the war on terrorism, the head of the Senate intelligence committee said on Friday her panel would investigate the CIA's treatment of suspects. (Fri, 27 Feb 2009 22:45:23 GMT)

American Express revises fourth quarter profit upward
American Express Co revised upward its fourth quarter profit by almost 40 percent to $240 million, due to a hedge accounting error, the company said in a regulatory filing on Friday. (Fri, 27 Feb 2009 22:54:34 GMT)

Apple picks new accountant
Electronics maker names Ernst & Young as its accounting firm of choice, replacing KPMG. (Fri, 27 Feb 2009 23:02:25 GMT)

Dubai Financial Audit Department and UOWD in partnership to conduct advanced training program in Forensic Accounting
Fourteen auditors from three major government departments of Dubai have commenced an advanced training program in Forensic Accounting that will be conducted in Dubai and Australia, following a Memorandum of Understanding between the Financial Audit Department (FAD), Government of Dubai, and University of Wollongong in Dubai (UOWD). (Sat, 28 Feb 2009 09:42:43 GMT)

UOWD offers Forensic Accounting
The Dubai Financial Audit Department and the University of Wollongong in Dubai has partnered to conduct advanced training program in Forensic Accounting. The courses are administered in Dubai and then later in Australia. (Sat, 28 Feb 2009 09:43:23 GMT)

Warren Buffett says accounting methods can produce absurd values for long-term derivatives
OMAHA, Neb. - Billionaire Warren Buffett has devoted nearly five pages of his letter to Berkshire Hathaway shareholders to explaining the role derivatives played in the company's nearly $7.5 billion investment losses last year. (Sat, 28 Feb 2009 15:08:49 GMT)