Accounting News 05/2009 (Page 2)

Mark-To-Market: Tool Or Trouble? (Investopedia via Yahoo! Finance)

Mark-to-market accounting can be a valuable practice, but all bets are off when the market fluctuates wildly. (May 8, 2009)

Red Wings' Chelios owes $78K in back taxes (MSNBC)

PONTIAC, Mich. (AP) - Detroit Red Wings defenseman Chris Chelios owes more than $78,000 in back taxes on his $2.9 million home in suburban Detroit. A team spokesman blames an accounting glitch and said the bill will be paid in full within days. (May 9, 2009)

Fees inflated by accounting error (The Hazleton Standard-Speaker)

An accounting error made by Hazleton Area School District’s business office inflated fees paid to athletic event workers over the past year. (May 9, 2009)

ALL BUSINESS: Accounting tricks boost bank profits (AP via Yahoo! News)

There's nothing like a little magical math to make banks' financial woes go away. (May 9, 2009)

ALL BUSINESS: Accounting tricks boost bank profits (AP via Yahoo! Finance)

List Says Top Democrats Were Briefed on Interrogations (New York Times)

A new accounting appears to call into question House Speaker Nancy Pelosi?s claim that she was never told that waterboarding and other methods were actually used on detainees. (May 9, 2009)

IGNOU-Accenture launch BPO accounting course (Business Standard India)

The Indira Gandhi National Open University (IGNOU), Ahmedabad has tied up with Accenture to launch a new course for the business process outsourcing (BPO). (May 9, 2009)

Local accounting firm in new office (Denver Post)

The Hanover office location of Smith Elliott Kearns & Co. LLC has moved to 55 Wetzel Drive from the former Frederick Street location. (May 9, 2009)

Banks shoring up profits with dodgy accounting (The Record and Herald News)

NEW YORK — There's nothing like a little magical math to make banks' financial woes go away. Bank stocks have surged in recent weeks, a sign that investors are betting the worst of the financial crisis is over. (May 10, 2009)

Accounting tricks boost bank profits (San Francisco Chronicle)

There's nothing like a little magical math to make banks' financial woes go away. Bank stocks have surged in recent weeks, a sign that investors are betting the worst of the financial crisis is over. But in reaching this conclusion, the market has chosen to... Related: Financial crisis - Bank - Business - Accountancy - Financial Services (May 10, 2009)

Fees inflated by accounting error (The Hazleton Standard-Speaker)

An accounting error made by Hazleton Area School District’s business office inflated fees paid to athletic event workers over the past year. (May 10, 2009)

Top 100 Products: The List (WebCPA)

AccountMate Software Corp. This accounting and business management software provides a stable and modifiable solution that is sold by the module, and the availability of source code makes it modifiable for adaptation to changing business environments. (May 10, 2009)

Kuwait's oil revenue up 44 pct in 2008 (Reuters via Yahoo! Asia News)

DUBAI, May 10 (Reuters) - Kuwait's oil revenue surged 44 percent in 2008 to 22.67 billion dinars ($77.74 billion) as energy prices soared, accounting for 94 percent of the OPEC producer's total state revenue, central bank data showed. (May 10, 2009)

Xero online accounting firm signs deal with British Telecom (TVNZ)

Online accounting software firm Xero has signed an agreement with UK telecommunications giant, British Telecom (May 10, 2009)

Big accounting firms trim their local payrolls (BizJournals)

Many accounting firms have responded to reduced revenue and client cutbacks by trimming their staffs. But laid-off employees are still finding work elsewhere in the Washington area. (May 11, 2009)

You Have Your Accounting Degree. What's Next? (Business Wire via Yahoo! Finance)

MONTVALE, N.J.----They've spent years studying finance, auditing, and budgeting. They've joined the student chapters of professional associations like the Institute of Management Accountants and networked with key practitioners in their community. (May 11, 2009)

Tricky accounting helping to fuel banks' upswing (The Columbus Dispatch)

NEW YORK -- There's nothing like a little magical math to make banks' financial woes go away. (May 11, 2009)

HSBC says first-quarter profits up, investment banking strong (Reuters via Yahoo! News)

HSBC Holdings , Europe's biggest bank, said first-quarter profits were "well ahead" of last year, swelled by record results in its investment bank, but would have been down without accounting gains on its debt. (May 11, 2009)

HSBC says first-quarter profits up (Reuters via Yahoo! News)

HSBC Holdings said first quarter profits were "well ahead" of last year, swelled by record results in its investment bank and resilience in Asia, but would have been down without accounting gains on its debt. (May 11, 2009)

HSBC says first-quarter profits up (Washington Post)

LONDON (Reuters) - HSBC Holdings said first quarter profits were "well ahead" of last year, swelled by record results in its investment bank and resilience in Asia, but would have been down without accounting gains on its debt. (May 11, 2009)

Report: Seven U.S. industries thriving (BizJournals)

Accounting firms, grocery stores and dentist offices are among seven U.S. sectors experiencing above-average sales during the economic downturn, according to data compiled by Sageworks Inc., a Raleigh company that develops financial-analysis tools for accounting firms and banks. (May 11, 2009)

Finally in the land of the free, but where are the jobs? (CNN)

Of all of the calculations Zainab Ibrahim made during her accounting career in Baghdad, this one was a snap. (May 11, 2009)

AWB lowers guidance after accounting ‘errors’ (The West Australian)

Wheat exporter AWB has downgraded first half profit guidance after it discovered accounting “errors” costing $4 million in its Brazil operation. AWB said today that it had changed management in Brazi (May 11, 2009)

Brazilian accounting errors cost AWB $4m (North Queensland Register)

AWB Ltd has been forced to slash its half-year profit guidance to $8-$9 million, due to accounting errors at its Brazilian arm. (May 12, 2009)

Study finds software piracy growing (Reuters via Yahoo! News)

Software piracy grew last year, accounting for 41 percent of all PC software installed, with losses to companies estimated at $53 billion, the Business Software Alliance said on Tuesday. (May 12, 2009)

Imperial Tobacco Has First-Half Loss on Derivative Accounting (Bloomberg)

May 12 (Bloomberg) -- Imperial Tobacco Group Plc , Europe’s second-largest cigarette maker, reported a first-half loss as currency and interest rates fluctuations led to an increase in so-called fair value losses on derivatives used for hedging. (May 12, 2009)

eTelemetry Introduces Cloud Computing Bandwidth Accounting (Business Wire via Yahoo! Finance)

ANNAPOLIS, Md.----eTelemetry, the leader in extracting real-time business information from network activity, today announced that it is including Cloud Services Accounting in its release of Metron, v. 2.1. (May 12, 2009)

Business PhD Applications on the Rise (BusinessWeek Online via Yahoo! News)

With expenses such as business lunches being curtailed and a dwindling list of new clients, Wayne Nelms knew it was only a matter of time before he would be laid off by accounting firm Grant Thornton. (May 12, 2009)

Husband cleared of false accounts (BBC News)

A man accused of involvement in a £650,000 Citizens' Advice Bureau fraud is told he will be cleared of false accounting. (May 12, 2009)

Local CPA tells Rotary accounting skills useful on the homefront (The Putnam Standard)

When Alice Riffee remodeled her kitchen. she drew on her accounting skills to tackle the ordeal that would disrupt her domestic scene for three months. In her professional life as a CPA and a financial consultant with AXA Equitable, Riffee knew from long experience that design and control are essential to every successful project. (May 12, 2009)

MBIA Post Ironic Profits On Accounting Gains (TheStreet.com)

MBIA beats Wall Street with a big profit, all of it the result of help from fair-value accounting rules. (May 12, 2009)

NYSE Chief Wants Accounting Firms to Cut SOX Fees (WebCPA)

NYSE Euronext CEO Duncan Niederauer thinks accounting firms are charging small companies too much to comply with Sarbanes-Oxley requirements and suggested the SEC may pressure the firms to reduce their fees. (May 12, 2009)

Creative accounting for SH20 (Scoop.co.nz)

The decision of Steven Joyce, Minister of Transport, to build a surface motorway through suburban housing, prime parkland, and over one of Auckland’s hidden gems, Te Auaunga Oakley Creek is evidence of the creative accounting used to justify such destruction according to Christopher Dempsey, Eden Albert Community Board Chair. (May 12, 2009)

Accounting (Fort Myers Florida Weekly)

J Brooks & Associates Inc. announced that John Eckerle has joined its team as a staff accountant. J Brooks & Associates Inc. is an accounting firm specializing in the many facets of accounting. (May 13, 2009)

Conseco delays filing to review accounting rules (The Indianapolis Star)

Conseco, the life insurer that this week reported its first profit since 2006, missed the deadline for filing results with regulators because it was reviewing new accounting rules concerning investment losses. The first-quarter results will be filed "as soon as practicable" after a review of its disclosure of writedowns on investments, the Carmel-based company said in a regulatory filing. (May 13, 2009)

Accounting chamber: Naftogaz's financial plan for 2009 unbalanced (KYIV Post)

The financial plan of National JSC Naftogaz Ukrainy for 2009 has a deficit of UAH 6.1 billion, the press service of the Accounting Chamber of Ukraine reported on Tuesday after an audit of the Ukrainian state holding. (May 13, 2009)

Accounting Change Puts MBIA Back In Black (Forbes)

The bond insurer gets back into the black, but don't confuse that with a big improvement in business. (May 13, 2009)

Accounting salaries, demand drop (Globes Online)

Ernst & Young - Kost Forer Gabbay & Kasierer remains the top-ranked accounting firm. (May 13, 2009)

You Have Your Accounting Degree. What’s Next? (WebCPA)

It s a relevant question given today s crapshoot of an economy. Students spend years studying finance, auditing and budgeting, join their local chapters of professional associations and network with key practitioners in their community. As thousands of graduates enter the workforce this month the question remains: now what? (May 13, 2009)

Syntex Management Systems, Inc. to Discuss Enterprise Risk Management at the North American Petroleum Accounting ... (PR Newswire via Yahoo! Finance)

Syntex Management Systems, Inc., world's leading provider of enterprise risk management solutions, is pleased to announce that Trent Derr, President and CEO for Syntex will present "Gaining a Corporate-Wide Picture Using Financial and Operational Data" at the North American Petroleum Accounting Conference on May 15, 2009 from 9:35 am-10:35 am. (May 13, 2009)

Accounting Management Solutions Ranked Among Fastest-Growing Massachusetts Companies for Fourth Straight Year (Marketwire)

WALTHAM, MA--(Marketwire - May 13, 2009) - Accounting Management Solutions, Inc. (AMS), the leading provider of accounting, financial management, and consulting services to public, private, and nonprofit organizations in the Northeast, has been named one of the fastest-growing private companies in Massachusetts by the Boston Business Journal (BBJ) for the fourth consecutive year. The latest ... (May 13, 2009)

NASBA Announces Speakers for "Accounting Industry Town Hall Meeting" at the National CPE Expo (Business Wire via Yahoo! Finance)

SAN ANTONIO----The National Association of State Boards of Accountancy, Inc. announced today a panel of five distinguished industry leaders for the Accounting Industry Town Hall Meeting at its National CPE Expo on September 21-23, 2009 at the Henry B. (May 14, 2009)

TPG Software Addresses New FASB Requirements for Impaired Asset Accounting (Business Wire via Yahoo! Finance)

HOUSTON----TPG Software today announced enhancements to its investment accounting platform to help financial institutions meet new financial statement reporting challenges. It will enable financial institutions to account for Other Than Temporarily Impaired assets in compliance with the newly-issued guidance on FAS157. (May 14, 2009)

Testimony: Scrushy left HealthSouth in a mess (AP via Yahoo! News)

Fired HealthSouth Corp. CEO Richard Scrushy left the company in a mess after investigators uncovered a massive accounting scam at the rehabilitation company, a corporate restructuring expert said. (May 14, 2009)

Insured immigrants spend less on health: study (Reuters via Yahoo! News)

Insured immigrants have lower medical expenses than U.S.-born citizens, even after accounting for lower levels of insurance coverage, U.S. researchers said on Thursday. (May 14, 2009)

Can China Go Green? (BusinessWeek)

Earn a Masters in Accounting 100% Online! Earn your MBA in Accounting, 100% Online, in as few as 15 months from CTU, an Accredited University. Business Courses Online Learn the Core Subjects of an MBA in a 24-Week Program. 100% Online! (May 15, 2009)

Ibrado: Balikatan accounting passed COA (ABS-CBNNEWS.com)

The "after activity report" on how the P46-million Balikatan 2007 funds were spent by the military has passed the Commission on Audit (COA), Armed Forces chief Lt. Gen. Victor Ibrado said Friday, virtually denying allegations of Navy Lt. Nancy Gadian that the funds were misused. (May 15, 2009)

Deloitte Australia launches online accounting service with AccountsIQ (Finextra)

AccountsIQ has announced that Deloitte Australia has today launched an online accounting service to its clients based on the accountsIQ software. (May 15, 2009)

U.S. jury finds ex-E&Y partner guilty on fraud charges (Reuters via Yahoo! News)

A U.S. jury found a former partner at accounting firm Ernst & Young LLP guilty of a securities fraud charge on Friday, according to a court document. (May 15, 2009)

U.S. jury finds Ex-E&Y partner guilty of fraud (Reuters via Yahoo! News)

A former partner at accounting firm Ernst & Young LLP was guilty of securities fraud for an insider trading scheme but not guilty of conspiracy charges, a U.S. jury ruled on Friday. (May 15, 2009)

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