Accounting News 04/2009 (Page 2)

Accounting body delays finding on key change (The Globe and Mail)

Canada's Accounting Standards Board has delayed a decision on whether to match new mark-to-market changes announced last week in the United States to offer relief to banks and other companies carrying impaired assets on their balance sheets. (Apr 7, 2009)

Accounting Change May Hurt Geithner Plan (TheStreet.com)

An accounting-rule change might undermine plans to sell bad assets at Bank of America, Citigroup and Wells Fargo. (Apr 8, 2009)

South Africa: Accounting 'Not to Blame' for Crisis (AllAfrica.com)

Johannesburg — THE world's most famous accountant, Sir David Tweedie, said yesterday that the system of accounting rules for financial instruments was too complex and needed to be addressed urgently. (Apr 8, 2009)

Banks push for adoption of U.S. accounting rule (The Globe and Mail)

Canada's big banks are pushing the country's accounting czars to adopt U.S.-style reforms that would make it easier for financial institutions to avoid taking hits on some of their holdings. (Apr 8, 2009)

No decision made on changes to Canada’s fair value accounting rules: AcSB (Investment Executive)

No decision has been made whether to change fair value accounting rules in Canada, the Accounting Standards Board said Tuesday. The AcSB will hold a special meeting later this month to consider whether to propose changes in the use of fair values and impairment of debt securities. (Apr 8, 2009)

Canada’s Banks Want U.S.-Style Accounting Reforms, Globe Says (Bloomberg)

April 8 (Bloomberg) -- Canada’s biggest banks are pushing for accounting rules that would match U.S. reforms to ease the markdown on the value of some of their assets, the Globe and Mail reported. (Apr 8, 2009)

Canadian banks press accounting body to adopt U.S. rules (The News)

TORONTO — Canada’s big banks are pushing the country’s accounting czars to adopt U. (Apr 8, 2009)

Board Loosens Accounting Rules (San Fernando Valley Business Journal)

Eclipsed by news from the G20 Conference in London yesterday, the Financial Accounting Standards Board here in the U.S. voted to loosen so-called Mark-to-Market rules, which value distressed assets held by banks and other financial institutions. (Apr 8, 2009)

Leeladhar rakes up corporate accounting issues (Business Standard India)

The Reserve Bank of India (RBI) today highlighted the general perception that accounting statements have failed to inform of the drift of financial affairs of a company towards impending failure. (Apr 8, 2009)

Intacct To Put Accounting Software In The Cloud (InformationWeek)

Intacct's deal with CPA group should push SaaS -- in the form of cloud-based financial software -- further into the accounting industry. (Apr 8, 2009)

City Bank’s accounting firm quits (Puget Sound Business Journal)

City Bank said Wednesday its accounting firm had resigned, an uncommon move that’s another indicator of the mounting pile of problems facing the Lynnwood-based bank. (CTBK) (Apr 8, 2009)

Event: 'Meeting Your Obligations As An Employer: Tax, Legal And Accounting' (Business Weekly)

Your speakers from Steeles Law llp and Peters Elworthy & Moore will consider the tax, legal and accounting consequences of employing staff from the commencement to the cessation of employment. (Apr 8, 2009)

Chiquita Appoints Ritchey Chief Accounting Officer (PR Newswire via Yahoo! Finance)

Chiquita Brands International announced today that the company's board of directors has appointed Lori A. Ritchey, 45, as vice president, controller and chief accounting officer effective April 9, 2009. (Apr 9, 2009)

Politicized Accounting: No End to the Scams (Baltimore Chronicle & Sentinel)

The accounting profession might seem like the last place that you’d find serious political hanky-panky going on, and it’s probably not on very many people’s A-list of fun subjects to read about, but the Financial Accounting Standards Board, a quasi-governmental body that has statutory authority to regulate and establish the rules by which public companies, including banks, do their books, has ... (Apr 9, 2009)

Accounting, auditing firms in demand even during recession (KYIV Post)

Fresh off a record year in 2008, accounting and auditing firms are having to cut fees and staff. Businesses in Ukraine, small and large, are feeling the pinch of economic recession and struggling to adjust to tougher economic days ahead. Accounting and auditing firms are no exception. (Apr 9, 2009)

Sikich Ranks #16 in Accounting Technology's 2009 Top 100 List (Marketwire via Yahoo! Finance)

Sikich has been ranked 16th in Accounting Technology's Top 100 Value Added Reseller list with revenue totaling over $17.56 million in 2008, an increase of just over 9%. (Apr 9, 2009)

Sikich Ranks #16 in Accounting Technology's 2009 Top 100 List (Marketwire)

AURORA, IL--(Marketwire - April 9, 2009) - Sikich has been ranked 16th in Accounting Technology's Top 100 Value Added Reseller (VAR) list with revenue totaling over $17.56 million in 2008, an increase of just over 9%. Accounting Technology's selection of the VAR Top 100 list is based on the amount of revenue generated by each published reseller during the previous year. More than one thousand ... (Apr 9, 2009)

No Accounting for Bad Taste? Not So Fast, Prosecutor Says (New York Times)

The seller of a Michael Vick dog chew toy and a doll named for a dead toddler faces a suit for suggesting the proceeds would go to charity. (Apr 10, 2009)

RESEARCHERS WIN AWARD IN MANAGEMENT ACCOUNTING (Accounting Education)

Janek Ratnatunga, Norman Gray and Bala K.R. (Kashi) Balachandran are the winners of the first Greatest Potential Impact on Practice Award for research in management accounting, an award given by the American Accounting Association’s Management Accounting Section and sponsored by the AICPA, the Chartered Institute of Management Accountants and the Society of Management Accountants of Canada.... (Apr 10, 2009)

Canada can make valuable contribution to accounting debate (National Post)

The financial crisis has underlined the need for a system of global governance with common rules for finance, according to Paul Cherry, Canada’s chief accountant. (Apr 10, 2009)

Accounting Technology Names PKF Texas to Annual VAR 100 (PR Newswire via Yahoo! Finance)

Pannell Kerr Forster of Texas, P.C. was named to Accounting Technology's annual VAR 100 list. (Apr 10, 2009)

Commissioners accept audit by accounting firm (The Daily Ardmoreite)

City commissioners accepted the FY 2007-08 audit from the independent accounting firm of Hulme Rahhal Henderson Inc. during their regularly scheduled meeting Monday. (Apr 10, 2009)

Coastal Accounting checks off Fisherman’s Wharf (The Destin Log)

With the game tied at 5-5 going into the fourth inning, Drake Elder smacked a two-run homer to put Coastal Accounting on top for a 10-8 win in the major league division of the Destin Little League Association.Pitching for Coastal were Tyler Slotter and (Apr 10, 2009)

Canada can make valuable contribution to accounting debate (National Post)

The financial crisis has underlined the need for a system of global governance with common rules for finance, according to Paul Cherry, Canada’s chief accountant. (Apr 10, 2009)

Accounting regulators yet to recognise LLP (Business Standard India)

Amendments needed in regulations. Though the government has initiated the process of registering Limited Liability Partnership (LLP) firms, it would take a while before the chartered accountant (CA), company secretary (CS) and cost accounting firms convert to LLPs. (Apr 10, 2009)

'Mark-to-Market' Accounting Demystified (The Epoch Times)

The Financial Accounting Standards Board recently loosened the controversial “mark-to-market” accounting rule. (Apr 10, 2009)

Canada can make valuable contribution to accounting debate (National Post)

The financial crisis has underlined the need for a system of global governance with common rules for finance, according to Paul Cherry, Canada’s chief accountant. (Apr 12, 2009)

CBI records statements of SEBI officials (Hindustan Times)

The CBI has recorded statements of officials of stock market regulator SEBI in the case pertaining to the multi-crore rupee accounting fraud in Satyam Computer. (Apr 12, 2009)

US: Former KPMG executives jailed for tax fraud (Mallenbaker.net)

Two former executives with accounting giant KPMG have been sent to jail for 8 and 10 years for their part in a billion dollar tax evasion scam. The judge said that the two had been heavily involved in a tax shelter that was well across the line into illegality. (Apr 12, 2009)

Executive moves (Crain's New York Business)

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. (Apr 12, 2009)

New accounting rules may boost banks’ bottom lines (BizJournals)

Bankers say new accounting rules related to impaired loans could boost lending and consumer confidence, but analysts say they fear that it may just allow banks to hide behind a curtain and create a show for investors. (Apr 13, 2009)

Tech Mahindra Wins Bid to Control Satyam (New York Times)

The offer values the Indian outsourcing company Satyam, which was battered by an huge accounting fraud scandal, at $1.2 billion. (Apr 13, 2009)

Belleville native building fantasy sports bar (Belleville News-Democrat)

Adrian Glass wants to work in his own sports fantasy land. So the Belleville native quit his job in accounting more than two years ago and has been creating a sports bar in Maplewood to be known as The Post. (Apr 13, 2009)

US Postal Service Changes Insurance Claims-Processing (AuctionBytes)

The United States Postal Service is revising its regulations on domestic mail insurance claims. The damaged goods inspection policy is changing, and local Post Office personnel will no longer adjudicate claims - instead, all claims will be adjudicated by Accounting Services. (Apr 13, 2009)

R.H. Donnelley Appoints Sylvester J. Johnson as Chief Accounting Officer (PR Newswire via Yahoo! Finance)

R.H. Donnelley, one of the nation's leading local commercial search companies, today announced the appointment of Sylvester J. Johnson as vice president, corporate controller and chief accounting officer. (Apr 13, 2009)

Canadian stocks drop for third straight day (National Post)

Canadian stocks dropped for a third straight day on falling oil prices and speculation the country’s top accounting watchdog may reject similar mark-to-market rules adopted south of the border to help inflate bank asset values. (Apr 13, 2009)

Canada can make valuable contribution to accounting debate (National Post)

The financial crisis has underlined the need for a system of global governance with common rules for finance, according to Paul Cherry, Canada’s chief accountant. (Apr 13, 2009)

R.H. Donnelley appoints Sylvester Johnson as VP, corporate controller & chief accounting officer (Nasdaq)

(RTTNews) - R.H. Donnelley Corp. (RHDC.PK) announced the appointment of Sylvester Johnson as vice president, corporate controller and chief accounting officer. (Apr 13, 2009)

R.H. Donnelley hires former 7-Eleven controller (BizJournals)

Struggling Yellow Pages publisher R.H. Donnelley has hired Sylvester J. Johnson as vice president, corporate controller and chief accounting officer. (Apr 13, 2009)

New US rules may taint big bank results (Khaleej Times)

NEW YORK - The world will finally get a peek into the finances of troubled U.S. banks this week as earnings season gets under way, but recent accounting changes mean investors might not know what to make of them. (Apr 13, 2009)

United Risk Solutions Names Patterson Accounting Manager (Insurance Journal)

United Risk Solutions Inc. of Medford, Ore., has named Nancy Parsons Patterson accounting manager. In her new position, Patterson is responsible for managing all accounting functions including ... (Apr 14, 2009)

Canada can make valuable contribution to accounting debate (National Post)

The financial crisis has underlined the need for a system of global governance with common rules for finance, according to Paul Cherry, Canada’s chief accountant. (Apr 14, 2009)

Union Bank Integrates Remote Deposit with Accounting Software for Increased Customer Operating Efficiency (Business Wire via Yahoo! Finance)

LOS ANGELES----Union Bank, N.A., today announced the introduction of its next generation remote deposit solution, Remote Deposit Accounts Receivable . The new software improves customers' operating efficiency by integrating directly with their accounting software and enabling them to update their account receivables in one process. (Apr 14, 2009)

UHY offers stimulus services (BizJournals)

The national accounting firm UHY LLP is offering to help state and local governments comply with requirements to get funding from the $787 billion federal economic stimulus package. (Apr 14, 2009)

Union Bank integrates remote deposit with accounting software (Finextra)

Union Bank, N.A., today announced the introduction of its next generation remote deposit solution, Remote Deposit Accounts Receivable (A/R). (Apr 14, 2009)

Sageworks survey: Accounting tops five healthiest industries (The Business Journal of the Greater Triad Area)

Tax services and accounting firms, health practitioners and dentists continue to do well despite the economic downturn, according to a nationwide survey of healthy industries by Sageworks, a Raleigh company that develops financial analysis tools and provides financial information for private companies. (Apr 14, 2009)

US Postal Service Changes Insurance Claims-Processing (AuctionBytes)

Patrick asks for 'full accounting' for Pike toll mess (Boston Globe)

By Globe Staff After a shortage of toll takers led to major backups Easter Sunday on the Massachusetts Turnpike, Governor Deval Patrick is asking for a "full accounting" from the head of the Turnpike Authority, including a determination of whether... (Apr 14, 2009)

Cleburne High accounting team takes sixth district title (Cleburne Times-Review)

For the sixth consecutive year, Cleburne High School has brought back the UIL District championship in accounting team competition. (Apr 14, 2009)

Office of the Chief Accountant and Division of Corporation Finance Release Staff Accounting Bulletin 111 (U.S. Securities and Exchange Commission)

This SAB amends Topic 5.M. in the Staff Accounting Bulletin Series entitled Other Than Temporary Impairment of Certain Investments in Debt and Equity Securities (Topic 5.M.). On April 9, 2009, the FASB issued FASB Staff Position No. 115-2 and 124-2, Recognition and Presentation of Other-Than-Temporary Impairments (FSP 115-2) to provide guidance for assessing whether an impairment of a debt ... (Apr 14, 2009)

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