Home > Accounting News

Accounting News 03/2009



Teams discover this cap isn't nearly as adjustable (The Cincinnati Enquirer)
As free agency began across the NFL on Friday, teams were doing their yearly practice of accounting for every cent while trying to create as much room as possible under the salary cap.

ON THE MOVE: Davie Kaplan hires Rochester man (Rochester Democrat and Chronicle)
A Rochester man has been hired as assistant in the audit and accounting group at Davie Kaplan .

NW road danger zone (The Advocate)
TWO fatalities on the North-West in less than a week has the region accounting for 40% of the state's road toll. Of the 15 deaths on Tasmanian roads this year, almost double the same time last year, six have happened on North- West or West Coast roads.

Microsoft asks for refund from some laid off workers (Malaya)
WASHINGTON—An accounting error reportedly led Microsoft Corp to notify some laid off employees last week that they would need to give back part of their severance pay.

Jeweller community demands for safety (The Times of India)
Expressing anger and fear accounting due to spurt in the loot and murder incidents of jewellers, the jeweller community of the city demanded their safety during a meeting held by them on Sunday.

Column : Accounting for blue chips (Express India)
Corporate India faces a significant test of the integrity of its financial statements at the end of this financial year when it has to apply an "impairment" test to a variety of assets under accounting standard AS 28.

Accounting mistake may cost North Texas Tollway Authority (Fort Worth Star-Telegram)
Tollway officials say they overstated their assets by $105.5 million in a report late last year.

Accounting mistake may cost North Texas Tollway Authority (Fort Worth Star-Telegram)
By GORDON DICKSON North Texas Tollway Authority officials say they overstated their assets by $105.5 million in a report late last year, an accounting error that could affect the agency’s financial health. However, officials with the Plano-based agency, say they’ve taken steps to prevent such a mistake in the future. The agency is joining with the Texas Transportation Department to build the ...

Fresno Fair accounting probe drags on (The Fresno Bee)
An accounting firm has finished part of its investigation into whether the Big Fresno Fair had lax accounting procedures that may have allowed a businessman to skim hundreds of thousands of dollars.

American Express revises 4Q profit upward (AP via Yahoo! Finance)
American Express Co. has revised its fourth-quarter profit upward by $68 million, due to an accounting error, according to a regulatory filing Friday.

American Express revises 4th-quarter profit upward by 40 percent due to accounting error (Canadian Business)
American Express Co. has revised its fourth-quarter profit upward by $68 million, due to an accounting error, according to a regulatory filing

Amex revises profit upward by $68-million (The Globe and Mail)
Regulatory filing reveals accounting error; fourth-quarter profit now $240-million

KCS Names Mary Stadler Senior Vice President & Chief Accounting Officer (Business Wire via Yahoo! Finance)
KANSAS CITY, Mo.----Kansas City Southern announced today that Mary Stadler has been named senior vice president and chief accounting officer. Ms. Stadler will report to KCS executive vice president and chief financial officer Michael W.

QuickBooks 2009 update to target online banking (MacNN)
Intuit has announced it will be updating the Online Banking component in QuickBooks 2009, its business accounting software. QuickBooks manages various business issues such as sales, payrolls and inventories. Changes in the update have been made in response to user requests, and will provide people with performance improvements, the ability to access different areas of QuickBooks while the online ...

Kansas City Southern hires chief accounting officer (The Business Journal of Kansas City)
Kansas City Southern has hired Mary Stadler as senior vice president and chief accounting officer. (S)

Accounting Standard Setter Plans Fair Value Revamp (SmartPros Accounting)
Feb. 23, 2009 (AFX News Limited) A global accounting standard setter will publish a draft rule later this year aimed at replacing and simplifying rules which critics say have forced writedowns, exacerbating the credit crunch.

No new contract for accounting firm in New Hartford (The Observer-Dispatch)
The town will no longer require the services of an accounting firm, FJ Basile CPAs, LLC, which has acted as a consultant during the budget process for the past several years.

SEC's Walters:Fair Value Accounting Is Crisis 'whipping Boy' (Fox News)
SEC's Walters:Fair Value Accounting Is Crisis 'whipping Boy'

5 Decosimo CPA Firm Principals Receive Accounting's Finest Nod (The Chattanoogan)
Five principals with Joseph Decosimo and Company, PLLC are being recognized in the March issue of Business Tennessee, each making the magazine's list of "Accounting's Finest."

Reading School District hires business, accounting assistant director (Reading Eagle)
The Reading School District has hired a new assistant director of business affairs and accounting. At a school board meeting Wednesday, the board voted to hire Michelle A. Diekow. She will earn a salary of $93,000.

US bank regulator questions accounting rule (vnunet.com)
Accountancy Age, Accountancy Age , Tuesday 3 March 2009 at 07:57:00 Is loan loss provision making the downturn worse? US Comptroller of the Currency John Dugan yesterday asked if an accounting rule used to determine future loan losses might have made things worse for the banks in the downturn....

US bank regulator questions accounting rule (Accountancy Age)
US Comptroller of the Currency John Dugan yesterday asked if an accounting rule used to determine future loan losses might have made things worse for the banks in the downturn.

Orszag Defends Budget As Honest Accounting (KCTV 5 Kansas City)
Budget Director Peter Orszag says the president's budget plan is an honest accounting of the government's fiscal woes.

CFOs Report on Second-Quarter Hiring Plans: Majority of Companies Expect No Change in Accounting and Finance Staff ... (PR Newswire via Yahoo! Finance)
A net 2 percent of chief financial officers interviewed for the Robert Half International Financial Hiring Index predict decreases in accounting and finance personnel in the second quarter of 2009, with most executives reporting a desire to maintain current staff levels for the next three months.

Little change expected in 2Q accounting and finance employment, Robert Half survey says (Philadelphia Business Journal)
Most chief financial officers in the Philadelphia area — 85 percent — expect to maintain accounting and finance staff levels in the second quarter, according to the most recent Robert Half International Financial Hiring Index.

Phoenix Revises Losses, Cites Accounting Error (Hartford Courant)
The Phoenix Cos. losses for 2008 will be somewhat lower than the company reported Friday, because of an accounting error the Hartford-based insurer disclosed late Tuesday.

Accounting student wins MTC GOAL (The Moultrie Observer)
MOULTRIE — An accounting student was recognized as Moultrie Technical College’s GOAL Award winner at a luncheon Monday.

AMBER to help Cathay Pacific and its subsidiary Hong Kong Dragon Airlines to automate all cargo revenue accounting ... (India Infoline)
Kale Consultants bags order from Cathay Pacific for its cargo revenue accounting solution called AMBER. All Rights Reserved to India Infoline Ltd.

Kale Consultants To Provide Cargo Revenue Accounting Solution To Cathay Pacific (Nasdaq)
(RTTNews) - Kale Consultants said that it would provide cargo revenue accounting solution, AMBER to Cathay Pacific and its subsidiary Hong Kong Dragon Airlines to automate all cargo revenue accounting processes.

Help wanted: IT workers and accounting professionals (CBC via Yahoo! Canada News)
The outlook for information technology hiring is positive for the second quarter, and demand for accounting and finance professionals is also expected to increase, the Canadian arm of staffing company Robert Half International said.

ISBI selects Princeton Financial Systems accounting system (Finextra)
The Illinois State Board of Investment (ISBI) will be deploying ePAM, Princeton Financial Systems' SaaS (Software as a Service), for its investment ...

Raffa, Freidkin accounting firms merge (BizJournals)
Two local accounting firms have joined forces: Freidkin, Matrone & Horn PA merged into Raffa PC.

Former Gen Re executive sentenced to 1 year in prison, fined $150K for accounting scandal (Minneapolis-St. Paul Star Tribune)
HARTFORD, Conn. - A former senior vice president at General Re Corp. was sentenced Wednesday to a year and a day in federal prison for an accounting fraud scandal that artificially propped up the stock price of insurer American International Group Inc.

Division president, accounting chief leave as Insight restructures (The Business Journal of Phoenix)
Insight Enterprises Inc. is realigning its corporate structure, and the company’s chief accounting officer as well as president of one of the company’s divisions have left the company after buyouts.

Congress to examine mark-to-market accounting: source (Reuters via Yahoo! News)
A U.S. House financial services subcommittee plans a hearing on mark-to-market accounting rules, which have been blamed for forcing banks to report billions of dollars in write-downs, a source briefed on the matter told Reuters on Wednesday.

US Trade Groups Seek PCAOB Guidance On Fair-Value Accounting (Nasdaq)
WASHINGTON -(Dow Jones)- A group of trade and business organizations sent the Public Company Accounting Oversight Board a letter Wednesday asking it to issue guidance for how it intends to inspect the audits of fair-value accounting.

Former Gen Re VP Gets Year in Prison for Accounting Fraud (Law.com)
A former senior vice president at General Re Corp. was sentenced to a year and a day in federal prison for an accounting fraud scandal that artificially propped up the stock price of insurer American International Group. Christopher Garand was also fined $150,000 for his role in the case, which authorities say cost AIG shareholders more than $500 million. Federal prosecutors say AIG paid Gen Re ...

Rise in state accounting errors reported (Lexington Herald-Leader)
FRANKFORT Staff shortages are causing increased accounting errors in state government, says a new audit. For example, the state treasury has not completed a monthly reconciliation of the state's largest bank account since 2006, according to the state government audit for the fiscal year that ended last June 30. "In many instances, our audit captures how budget cuts at all levels have ...

Ones to watch in accounting (Long Island Business News)
Shawn D. Anderson Assurance Manager, Melville office PricewaterhouseCoopers As a manager, Anderson is responsible for providing client service, leadership and career development for staff at this firm. He has seven years of experience in public accounting, serving local and multinational clients in a variety of industries including manufacturing, distribution, retail and service entities. ...

Miler Kaplan & Arase Acquires Sherman Oaks Accounting Firm (San Fernando Valley Business Journal)
Regional accounting giant Miller, Kaplan, Arase & Co. LLP, of North Hollywood, will announce March 5 that it has acquired Sherman Oaks-based Wolinsky, Becker & Hurewitz, LLP.

(AFX UK Focus) 2009-03-05 22:28 UPDATE 1-US lawmaker seeks "fair-minded" accounting fix (Interactive Investor)
WASHINGTON, March 5 (Reuters) - A U.S. House panel will examine mark-to-market accounting on March 12 to find "fair-minded, incremental and achievable fixes" to the accounting rule that has forced banks to write down billions of dollars in assets, a senior Democratic lawmaker said on Thursday.

Miller Kaplan & Arase Acquires Sherman Oaks Accounting Firm (San Fernando Valley Business Journal)
Regional accounting giant Miller, Kaplan, Arase & Co. LLP, of North Hollywood, will announce March 5 that it has acquired Sherman Oaks-based Wolinsky, Becker & Hurewitz, LLP.

Bionic Books Launches -- Finally Small Business Accounting is Easy (PRWeb via Yahoo! News)
Bionic Books, http://www.bionicbooks.com, launches today, offering straightforward, easy to use, great value accounting and bookkeeping software online.

Entertainment Group Selects CODA Finance System to Manage Complex Accounting Requirements (PRWeb via Yahoo! News)
• Supports multi-company, multi-currency accounting • Enables smooth integration with ticketing systems

'Tax Secrets for Day Traders' Live Webinar with America's Trader Tax Experts Traders Accounting (PRWeb via Yahoo! News)
"Tax Secrets for Day Traders:How to Increase Cash Flow with a Tax-Efficient Trading Plan, " a three-part webinar, presented live by Jim Crimmins, president of America's trader tax experts Traders Accounting.

'Tax Secrets for Day Traders' Live Webinar with America's Trader Tax Experts Traders Accounting (PRWeb)
"Tax Secrets for Day Traders:How to Increase Cash Flow with a Tax-Efficient Trading Plan, " a three-part webinar, presented live by Jim Crimmins, president of America's trader tax experts Traders Accounting. (PRWeb Mar 6, 2009) Read the full story at (link) prweb2207294.htm

Project Management Training Online Adds Finance & Accounting Courses for PDUs (PRWeb)
Project Management Training Online - pmtrainingonline.com - announced today that it has added 7 courses in Finance & Accounting to its catalog of online project management training courses. Project Management Training Online provides one of the most extensive offerings of online training courses focused on professional project management that can be found on the internet. (PRWeb Mar 6, 2009) ...

Boston Tax Firm Vitale Caturano Ranked #5 On Boston Business Journal's Area's Largest Accounting Firms List (PRWeb via Yahoo! News)
Boston Business Journal Names Boston Tax Firm Vitale Caturano To Its Area's Largest Accounting Firms List For The Second Consecutive Year

Miller Kaplan & Arase Merges With Sherman Oaks Accounting Firm (San Fernando Valley Business Journal)
Regional accounting giant Miller, Kaplan, Arase & Co. LLP, of North Hollywood, announced today that it has merged with Sherman Oaks-based Wolinsky, Becker & Hurewitz, LLP.

House Bill Would Create New Board For Accounting Standards (Nasdaq)
WASHINGTON -(Dow Jones)- Accounting standard setters would have their decisions vetted by a new five-member oversight board composed of financial regulators, under U.S. House legislation introduced Friday.