Accounting News 03/2009 (Page 2)

U.S. bill would revamp accounting oversight (Reuters via Yahoo! News)

Two U.S. lawmakers have introduced legislation to create a new body that would have the final say on accounting standards, possibly paving the way for a more business-friendly accounting environment. (Mar 6, 2009)

U.S. bill would revamp accounting oversight (Washington Post)

WASHINGTON (Reuters) - Two U.S. lawmakers have introduced legislation to create a new body that would have the final say on accounting standards, possibly paving the way for a more business-friendly accounting environment. (Mar 6, 2009)

Kay Koplovitz: At Last, Steve Forbes and I agree: Get rid of onerous mark to market accounting rules, institute the ... (HuffingtonPost)

At Last, Steve Forbes and I agree: Get rid of onerous mark to market accounting rules, institute the uptick rule for short sellers and enforce... (Mar 6, 2009)

New push against accounting rule stirs in Congress (Washington Post)

WASHINGTON -- It's back on Capitol Hill _ the push to scrap rules that force banks to value assets at current prices. (Mar 6, 2009)

New push against accounting rule stirs in Congress (AP via Yahoo! Finance)

It's back on Capitol Hill -- the push to scrap rules that force banks to value assets at current prices. The campaign waged by bankers, House Republicans and industry-friendly Democrats, which hit a roadblock late last year, has returned in a legislative proposal that targets the Securities and Exchange Commission. (Mar 6, 2009)

New push against accounting rule stirs in Congress (AP via Yahoo! News)

It's back on Capitol Hill — the push to scrap rules that force banks to value assets at current prices. (Mar 6, 2009)

GCC's transition to global accounting standards makes headway (MENAFN)

GCC's transition to global accounting standards makes headway (Mar 7, 2009)

RANTS AND RAVES: EMA's accounting lapses troubling (Montgomery Advertiser)

RANT: For serious problems in the handling of state contracts by the Alabama Emergency Management Agency. (Mar 7, 2009)

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. (Mar 7, 2009)

New and familiar: Accounting firm finds another interesting home (Knoxville News Sentinel)

A local accounting firm's grand experiment in architectural re-imagining is coming to an end. Its newest experiment is about to get started, though. (Mar 8, 2009)

Board's questionable accounting raises questions (Daily Record)

Carl Rupp's letter ("We can't afford school tax hike," Feb. 28) congratulates the Rockaway Township Board of Education for holding last year's budget growth to the rate of inflation and suggests they do the same next year. (Mar 8, 2009)

Business notes (The Cincinnati Enquirer)

An accounting firm plans a series designed to help people weather economic challenges, Clinical Engineering Consultants Inc. has agreed to provide sales and field service support for the CardiArc HD-SPECT system, and more. (Mar 8, 2009)

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. (Mar 8, 2009)

New insurance accounting rules are confusing says Axa (Daily Telegraph)

The debate about whether a new insurance accounting standard should be adopted is set to heighten after one of the world's largest insurers admitted it creates confusion. (Mar 8, 2009)

Accounting firms no longer recession-proof (Nashville City Paper)

Accounting firms get to grips with the idea that they’re no longer recession-proof (Mar 9, 2009)

Victor Davis Hanson Archives (Jewish World Review)

03/05/09: Accounting for California's suicide 02/26/09: A funny sort of depression 02/19/09: An ‘impulsive’ America? 02/12/09: Hardly the best and brightest 02/05/09: Been there, done that in the Middle East 01/29/09: Time to beam down to earth, President Obama 01/22/09: Unreal expectations? (Mar 9, 2009)

Accounting rule bad for economy, banks say (The News Journal)

The government is pulling out all the stops to shore up the banking system and get the economy moving again, except when it comes to making a simple accounting change. (Mar 9, 2009)

Convention rules the walls in the halls of power (The Australian)

POLITICIANS and ambassadors may spend thousands renting art, but it seems there's no accounting for taste. Based on their Artbank selections, our public officials have been accused of opting for unadventurous art to hang on their walls. (Mar 9, 2009)

Another 2Clix firm fails (News Interactive)

ANOTHER company connected to the defunct 2Clix Australia accounting software company has fallen into liquidation after failing to appear before the Queensland Supreme Court. (Mar 9, 2009)

"I'm not an out and out technology person" (Silicon.com)

Audit Commission CIO Jeremy Boss hasn't always been a techie. Before taking up his previous role as head of IT at Imperial Tobacco Group, trained accountant Boss was working in risk management at Coopers and Lybrand. A background combining auditing, accounting and technology is one that serves Boss well in his current role as CIO of the Audit Commission, a position he's held since 2004. (Mar 9, 2009)

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. (Mar 9, 2009)

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. (Mar 9, 2009)

£10m Euro funding repaid after flawed accounting (The Herald)

The Scottish Government has agreed to repay almost £10m of European funding because of flawed accounting procedures for some of the most ambitious projects in the Highlands and Islands in the 1990s. (Mar 9, 2009)

G20 summit must address accounting issues, says ACCA (vnunet.com)

Accountancy Age, Accountancy Age , Tuesday 10 March 2009 at 08:31:00 ACCA calls for 'global accounting language' The Association for Chartered Certified Accountants has called on world leaders to throw their weight behind international financial reporting standards at the G20 summit next month.... (Mar 10, 2009)

Writing off small business losses (Bankrate.com via Yahoo! Finance)

The accounting method determines whether a small business can claim a loss for income tax purposes. (Mar 10, 2009)

G20 summit must address accounting issues, says ACCA (Accountancy Age)

The Association for Chartered Certified Accountants has called on world leaders to throw their weight behind international financial reporting standards at the G20 summit next month. (Mar 10, 2009)

A.M. Castle has hefty 4Q loss on charge (Chicago Tribune)

A.M. Castle & Co., shackled as expected with a big accounting charge, turned in a hefty loss for both the fourth quarter and the full 2008 year Tuesday. Exclusive of the onetime charge, however, Castle's latest results topped analyst forecasts. (Mar 10, 2009)

The Fed: Bernanke: We need improvements to fair value rules (Market Watch)

Fed Chairman agues that regulators should identify weak parts of controversial mark-to-market accounting rules, which require daily revaluing of assets, and try to make some improvements. (Mar 10, 2009)

Uptick rule may return, mark-to-market changes seen (Reuters via Yahoo! News)

The possible return of the "uptick" restriction on short-sellers of shares and the prospect of changes in an accounting rule that has forced banks to take billions of dollars in writedowns, sent U.S. shares higher on Tuesday. (Mar 10, 2009)

Accounting change (The Hill)

Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, said he expects significant changes to U.S. accounting rules this year,... (Mar 10, 2009)

Uptick rule eyed, Fed chief backs accounting tweak (Reuters via Yahoo! News)

U.S. Regulators will consider reviving the "uptick" restriction on short-sellers of stocks and a top monetary official lent his support on Tuesday to modifying an accounting rule that has forced banks to take billions of dollars in writedowns. (Mar 10, 2009)

Uptick rule eyed, Fed chief backs accounting tweak (Reuters via Yahoo! Philippines News)

By Rachelle Younglai and Jeremy Pelofsky (Mar 10, 2009)

Bernanke's Vision for Change (Washington Post)

Federal Reserve Chairman Ben S. Bernanke yesterday laid out his most comprehensive vision yet for how to overhaul the rules governing the nation's financial system, and advocated changing accounting methods that he said have exacerbated the financial crisis. (Mar 11, 2009)

Crisis at Cattles deepens as three more directors suspended (Guardian Unlimited)

Storm clouds gather as the embattled sub-prime lender breaches its banking covenants, suspends more board members and issues its third profits warning in as many weeks Doorstep lender Cattles suspended another three senior executives today, warning that internal accounting failings plunged it into the red last year, and has breached its banking covenants, putting 4,000 jobs at risk. ... (Mar 11, 2009)

U.S. nears mark-to-market accounting guidance (Reuters via Yahoo! News)

U.S. accounting rulemakers and regulators said they were pushing ahead with new guidance on mark-to-market accounting that has forced banks to write down billions of dollars in assets in the financial crisis. (Mar 11, 2009)

House panel looks at accounting rules (AP via Yahoo! Finance)

As the financial crisis grinds on, Congress is taking another look at accounting rules that force banks to value assets at current prices even if they plan to hold them for years. (Mar 12, 2009)

Is fair value accounting fair game for critics? (Fortune via Yahoo! Finance)

Lawmakers are about to get another earful from people who say so-called fair value accounting is anything but fair. (Mar 12, 2009)

Lawmakers calls for action on mark-to-market accounting (Market Watch)

Legislators and regulators need to "act now" to change controversial mark-to-market accounting rules, which require daily revaluing of assets such as mortgage-backed securities or credit default swaps, a key lawmaker says. Other legislators, from both parties, echo the sentiment for action at a hearing on Capitol Hill. (Mar 12, 2009)

Lawmaker: Congress will act on accounting rules (Fort Worth Star-Telegram)

By MARCY GORDON Congress will have to act to ease accounting rules that force banks to value assets at current prices unless regulators immediately do so, a senior House lawmaker said Thursday. Rep. Paul Kanjorski, chairman of a House panel, held out the threat of legislation to pressure the Securities and Exchange Commission and the Financial Accounting Standards Board to take steps that would ... (Mar 12, 2009)

SEC Official Encourages Improving, Not Suspending Mark-To-Market Accounting (Nasdaq)

(RTTNews) - The nation's top financial regulator is working to make adjustments to mark-to-market accounting, a top official said Thursday. (Mar 12, 2009)

Lawmaker: Congress will act on accounting rules (San Francisco Chronicle)

A senior House lawmaker says Congress will have to act to improve accounting rules that force banks to value assets at current prices unless regulators immediately do so. Rep. Paul Kanjorski, chairman of a House panel, held out the threat Thursday of... (Mar 12, 2009)

Lawmaker: Congress will act on accounting rules (AP via Yahoo! News)

Congress will have to act to ease accounting rules that force banks to value assets at current prices unless regulators immediately do so, a senior House lawmaker said Thursday. (Mar 12, 2009)

Accounting rule under fire in Congress (CNN Money)

Regulators should expand the toolbox banks can use to place a value on hard-to-sell assets, market participants and accounting watchdogs told a congressional panel Thursday. (Mar 12, 2009)

Kanjorski Says Congress to Act If SEC Doesn’t Tweak Accounting (Bloomberg)

March 12 (Bloomberg) -- U.S. Representative Paul Kanjorski said Congress will revise an accounting measure that banks blame for exacerbating the financial crisis if regulators don’t act “quickly” to give companies more leeway in applying the rule. (Mar 12, 2009)

Quit whining about accounting! (CNN Money)

There are many reasons why banks are stuck in the mess they currently find themselves. But you know what? Accounting rules aren't one of them. (Mar 12, 2009)

House panel gets FASB pledge on accounting rule (AP via Yahoo! News)

A House panel wrung a pledge Thursday from the head of an accounting board to try to issue guidelines in three weeks that will ease rules that force banks to value assets at current prices. (Mar 12, 2009)

House Panel Gets FASB Pledge on Accounting Rule (TheStreet.com)

House panel gets pledge from FASB head to try to act on accounting rule in 3 weeks (Mar 12, 2009)

UPDATE: Lawmakers Push For Guidance On Fair-Value Accounting (Nasdaq)

(Updated with a comment from former FDIC Chairman William Isaac, who testified at the hearing). WASHINGTON -(Dow Jones)- After facing a barrage of bipartisan criticism Thursday, the chairman of the Financial Accounting Standards Board told a U.S. (Mar 12, 2009)

Accounting exemption (The New Straits Times)

PUTRAJAYA: Students who aced the Principles of Accounting paper in the Sijil Pelajaran Malaysia examination will be given certification (level 2) by the London Chambers of Commerce and Industry (LCCI). (Mar 12, 2009)

Congress Gives U.S. Official 3 Weeks to Revise Mark-to-Market Accounting (Insurance Journal)

Lawmakers told the top U.S. accounting rulemaker to deliver new guidance on mark-to-market accounting within three weeks, or face legislation changing the rule that has forced banks to write down ... (Mar 13, 2009)

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