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Accounting News 07/2009



Crunch: Biting through 'traditional' SaaS accounting solutions (Business Zone)
‘Ridiculously easy accounting.’ So says the tagline of cloud computing newcomer, Crunch, which aims to offer a fresh take on SaaS (software-as-a-service) accounting solutions for freelancers and small and medium sized businesses with £25,000 plus turnover.

The Association of Latino Professionals in Finance and Accounting Announce Details of its Annual Convention in Boston, ... (PRWeb via Yahoo! News)
A four-day event for professionals and students pursuing careers in finance and accounting that includes workshops, networking events, luncheons and dinner gala. Over 2,000 expected to attend the 4-day event that will include a career fair with close to 100 companies participating.

Accounting Salaries Hold Steady Despite Economy (WebCPA)
Young professionals who have earned the Certified Management Accountant designation earn more than their non-certified peers, according to a new salary study released by the Institute of Management Accountants.

FASB Accounting Standards CodificationTM Launches Today (Business Wire via Yahoo! Finance)
NORWALK, Conn.----The Financial Accounting Standards Board today launched the FASB Accounting Standards CodificationTM as the single source of authoritative nongovernmental U.S. generally accepted accounting principles .

FASB Debuts Accounting Standards Codification (WebCPA)
The Financial Accounting Standards Board has officially launched its FASB Accounting Standards Codification, an online interactive research tool that will serve as the single source of authoritative nongovernmental U.S. generally accepted accounting principles.

SEC Charges Former Chief Accounting Officer of Beazer Homes for Fraudulent Earnings Management Scheme (U.S. Securities and Exchange Commission)
Washington, D.C., July 1, 2009 — The Securities and Exchange Commission today charged the former chief accounting officer of Atlanta-based home builder Beazer Homes, USA, Inc., for conducting a multi-year fraudulent earnings management scheme and misleading Beazer's outside auditors and internal Beazer accountants in order to conceal his wrongdoing.

The Association of Latino Professionals in Finance and Accounting Announce Details of its Annual Convention in Boston, ... (PRWeb)
A four-day event for professionals and students pursuing careers in finance and accounting that includes workshops, networking events, luncheons and dinner gala. Over 2,000 expected to attend the 4-day event that will include a career fair with close to 100 companies participating. (PRWeb Jul 1, 2009) Read the full story at (link) prweb2594554.htm

(AFX UK Focus) 2009-07-01 19:45 UPDATE 1-SEC accuses ex-Beazer official of accounting fraud (Interactive Investor)
NEW YORK, July 1 (Reuters) - U.S. stock regulators on Wednesday accused a former chief accounting officer at Beazer Homes USA Inc of running a fraudulent scheme to manipulate the builder's results. Michael Rand, of Sandy Springs, Georgia, was accused in a civil lawsuit of violating federal securities law and misleading the builder's outside auditors to conceal his wrongdoing.

Ex-Beazer Accountant Sued by SEC for Accounting Fraud (Update1) (Bloomberg)
July 1 (Bloomberg) -- Beazer Homes USA Inc .’s former chief accounting officer was sued by the U.S. Securities and Exchange Commission for fraudulently managing earnings to meet analysts’ expectations and boost executive bonuses.

Nigeria: Accounting Board Partners NERC to Improve Standards (AllAfrica.com)
Lagos — The Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Accounting Standard Board (NASB) are collaborating to develop an accounting system to aid the determination of electricity tariff, report cost and expenses for the Nigerian Electricity Supply Industry (NESI).

SEC Charges Ex Beazer Accounting Chief with Fraud (WebCPA)
The SEC has charged the former chief accounting officer of Beazer Homes with conducting a fraudulent earnings management scheme for over five years and misleading the home builder s outside auditors and internal accountants.

Access Accounting restructures and rebrands (Accountancy Age)
Access Accounting, the financial software suppliers, will now primarily be focused on consulting in a restructure by its parent company, ATG, which is consolidating its subsidiaries.

BDO (SA) Selects Maconomy's Tax, Audit and Accounting Solution (Business Wire via Yahoo! Finance)
BOSTON----Maconomy, the international supplier of ERP solutions for Professional Services Organizations , has signed a deal with the South African audit firm BDO Spencer Steward, a part of the world's fifth-largest accounting network.

Neverland Accounting (Forbes)
Why Michael Jackson's balance sheet looked like an ailing company's.

SEC CHARGES FORMER CHIEF ACCOUNTING OFFICER OF BEAZER HOMES FOR FRAUDULENT EARNINGS MANAGEMENT SCHEME (Accounting Education)
The Securities and Exchange Commission today charged the former chief accounting officer of Atlanta-based home builder Beazer Homes, USA, Inc., for conducting a multi-year fraudulent earnings management scheme and misleading Beazer's outside auditors and internal Beazer accountants in order to conceal his wrongdoing.

BDO (SA) Selects Maconomy’s Tax, Audit and Accounting ERP Solution (CRM Today)
Maconomy, the international supplier of ERP solutions for Professional Services Organizations (PSO), has signed a deal with the South African audit firm BDO Spencer Steward, a part of the world's fifth-largest accounting network. The deal includes an ERP solution for 480 users.

ACCOUNTING IN DIFFICULT TIMES (Mondaq)
Whether reporting under IFRS or UK GAAP, many companies will be having to consider the implications of the global financial crisis. We examine some of the financial reporting consequences, both in respect of new standards and guidance and applying existing standards.

HSE accounting systems ‘outdated’ (Irish Examiner)
ARCHAIC accounting systems mean the Health Service Executive cannot manage its €15 billion budget properly.

CODA and Corefino Partner on Breakthrough Cloud Computing Accounting Service (PRWeb via Yahoo! News)
• Built on Force.com platform, new 'Corefino 2go' gives mid-market CFOs strategic alternative to 'Big 3' ERP on-premise software and staffing.

CODA and Corefino Partner on Breakthrough Cloud Computing Accounting Service (PRWeb)
• Built on Force.com platform, new 'Corefino 2go' gives mid-market CFOs strategic alternative to 'Big 3' ERP on-premise software and staffing. (PRWeb Jul 4, 2009) Read the full story at (link) prweb2603594.htm

Software Review: Nonprofit accounting software - no universal approach (WebCPA)
The general consensus in the industry is that accounting software is accounting software. While there are different bells and whistles, the underlying processes are the same whether the entity is a professional practice or a retail store.

Fee accounting stinks...but will it matter? (The Bakersfield Californian)
The homebuilders have a point. The city of Bakersfield screwed up -- maybe even broke state law -- by failing to write reports every year for its traffic impact fee program.

People & achievements (The State)
ACCOUNTING Erin C. Boyce of Kirkland, Thomas, Watson & Dyches has become a certified public accountant. Boyce provides accounting services and employee benefit plans to nonprofits, manufacturers and distributors.

ON THE MOVE: USA Payroll promotes Greece woman (Rochester Democrat and Chronicle)
A Greece woman has been promoted to accounting and new client support specialist at USA Payroll .

TIM should not interfere in counting — Locsin (Manila Bulletin)
House Suffrage and Electoral Reforms Committee Chairman Teodoro Locsin Jr., said that Total Information Management, Corp. (TIM) should keep distance from automated poll accounting come the 2010 general election, even as it retains its partnership with the Barbados-based Smartmatic International for the automation of the country’s election.

East Hanover's Peter Motsch wins scholarship (Hanover Eagle)
EAST HANOVERTWP. â Peter Motsch, a resident of East Hanover and a student at Montclair State University, was awarded a $4,500 accounting scholarship June 24 from the New Jersey Society of Certified Public Accountants (NJSCPA) in the name of Rothstein, Kass & Company, P.C.

Struggling Image Entertainment Receives More Bad News (San Fernando Valley Business Journal)
The accounting firm for Image Entertainment Inc. has raised doubts that the home entertainment programming distributor can continue in business due to debt and lack of money for its operations.

MCTC to help small business owners with Basic Accounting with QuickBooks workshop (The Huntington Herald-Dispatch)
BASIC ACCOUNTING WITH QUICKBOOKS: The West Virginia Small Business Development Center at Marshall Community and Technical College will offer a Basic Accounting with QuickBooks workshop from 8:30 a.m. to 4:30 p.m. Tuesday, July 7, at 348 15th St., Huntington.

Trintech to Present at 9th Annual IQPC Finance & Accounting Shared Services Conference in Chicago (PR Newswire via Yahoo! Finance)
Trintech Group Plc , a leading provider of integrated financial governance, transaction risk management, and compliance software solutions for commercial, financial, and healthcare markets worldwide, is proud to announce its participation in the upcoming IQPC Shared Services for Finance & Accounting conference, being held July 20 - 22 in Chicago, IL.

Trintech to Present at 9th Annual IQPC Finance & Accounting Shared Services Conference in Chicago (redOrbit)
DALLAS, July 6 /PRNewswire-FirstCall/ -- Trintech Group Plc (Nasdaq: TTPA), a leading provider of integrated financial governance, transaction risk management, and compliance software solutions for commercial, financial, and healthcare markets worldwide, is proud to announce its participation in the upcoming IQPC Shared Services for Finance & Accounting conference, being held July 20 - 22 in ...

Accounting firms retrench as skittish clients cut back (BizJournals)
Accounting firms are feeling the pain as their clients look to trim costs during the recession.

Sacramento accounting firm takes more space in San Francisco (BizJournals)
Perry-Smith LLP will more than triple its San Francisco operations, growing from 4,300 square feet to a 13,000-square-foot office this week.

Accounting rules squeeze HK company profits, says Deloitte (Accountancy Age)
Hong Kong's biggest companies' profits plunged despite a surge in revenue last year, and a Deloitte report is pointing the finger at mark to market accounting rules.

Making SaaS Easy Corporation Acquires IAC-EZ: A Simple and Affordable Online Accounting Application (PR Newswire via Yahoo! Finance)
Making SaaS Easy Corporation has acquired IAC-EZ, the groundbreaking online accounting application for entrepreneurs, sole proprietors, freelancers and micro-businesses. The announcement was made this morning by Scott Myers, CEO of Making SaaS Easy Corporation.

Report: Doyle not properly accounting for travel expenses, not providing receipts (The Oshkosh Northwestern)
The report found Doyle and his staff did not supply travel receipts nearly 75 percent of the time in 2007 and 2008, including Doyles $5,200 business-class flight to Ireland, a $654-a-night stay in a London hotel and more than $1,500 on two chauffeured vehicles in Canada.

Euro accounting rules could help UK (Guardian Unlimited)
Your editorial (3 July) on the government's U-turns misses one that it has not yet made, and which would actually help it get out of its current difficulties. The national rail network and council housing have both been the subject of renewed government attention this week, and investment in them is held back by a shared obstacle: the extra borrowing would add to public sector debt. Yet ...

Report: Doyle not properly accounting for travel (Manitowoc Herald Times Reporter)
MADISON Gov. Jim Doyles travel records show the governor and his staff failed to properly account for 145 travel expenses over two years, according to a newspaper report published Sunday.

Germany, France seek looser accounting rules (AP via Yahoo! Finance)
German and French finance ministers are calling for looser accounting rules that would allow European banks to follow American rivals and avoid reporting heavy losses on troubled assets they cannot sell.

Accounting society selects BYU director (Deseret News)
Kevin Stock, director of the Brigham Young University School of Accountancy, has been selected as president-elect of the American Accounting Association.

Accounting for sustainability earns global accountancy backing (vnunet.com)
Rachael Singh, Accountancy Age , Tuesday 7 July 2009 at 09:06:00 Global accountancy institutes join forces to bring sustainability to the forefront of reporting principles Prince Charles' Accounting for Sustainability Forum has announced that 16 accountancy bodies across the world have agreed on a set of five sustainability principles. This is the first time that a global group of accountancy ...

Germany To Amend Law On Banks' Accounting - Report (INO News)
FRANKFURT (Dow Jones)--The German government is set to offer the country's banks massive relief with an amendment to the law governing their accounting principles, newspaper Financial Times Deutschland reported Tuesday.

Steinbrueck, Lagarde Want ‘Urgent’ EU Accounting-Rule Revamp (Bloomberg)
July 7 (Bloomberg) -- French Finance Minister Christine Lagarde and her German counterpart Peer Steinbrueck want the European Union to ensure that accounting rules are changed before companies publish their 2009 accounts.

The Big Four of Accounting Will Be Among the Big Winners if U.S. Adopts Climate Law (New York Times)
NEW YORK -- Having helped companies explore the labyrinth of greenhouse gas regulation in Europe, the Big Four auditing and a...

Minister For Health & Children Publishes Report On Certain Accounting Issues Related To The Health Service Executive, ... (Medical News Today)
The Minister for Health & Children published the Report of the Working Group on certain accounting issues related to the Health Service Executive. The Working Group was chaired by Mr Tom Considine, former Secretary General of the Department of Finance, and included representatives from the Department of Health & Children, the Department of Finance and the HSE.

Report: GSU did not fix accounting issues (The Shreveport Times)
The state Legislative Auditor's office has issued a report on Grambling State University that finds the school has failed to correct lingering accounting problems.

Report: GSU did not fix accounting issues (KALB Alexandria)
A report on Grambling State University that finds the school has failed to correct lingering accounting problems

Accounting Today Calls for Nominations (WebCPA)
Accounting Today is issuing a call for nominations for its annual Top 100 Most Influential People in Accounting list.

Universal Accounting® Tax Tip: Save on 2009 Taxes by Meeting with Tax Preparer Now to Ensure Proper Control of Your ... (PRWeb via Yahoo! News)
Mid-Year Meeting Allows for Lifestyle & Law Changes & Leads to Tax Savings. Universal Accounting®, the nation's largest training center for accounting and tax preparation with its Profit Expert™ Programs, recommends individuals and small businesses meet semi-annually with a tax preparer to adjust for lifestyle and tax law changes, ensuring maximum 2009 tax savings.

Universal Accounting® Tax Tip: Save on 2009 Taxes by Meeting with Tax Preparer Now to Ensure Proper Control of Your ... (PRWeb)
Mid-Year Meeting Allows for Lifestyle & Law Changes & Leads to Tax Savings. Universal Accounting®, the nation's largest training center for accounting and tax preparation with its Profit Expert™ Programs, recommends individuals and small businesses meet semi-annually with a tax preparer to adjust for lifestyle and tax law changes, ensuring maximum 2009 tax savings. (PRWeb Jul 8, 2009) Read the ...

Research and Markets: The 2009 Report on Accounting Services: World Market Segmentation by City (Business Wire via Yahoo! Finance)
DUBLIN----Research and Markets has announced the addition of the "The 2009 Report on Accounting Services: World Market Segmentation by City" report to their offering.