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Accounting News 10/2009



Salesforce gets behind accounting startup (vnunet.com)
Shaun Nichols in San Francisco, V3.co.uk , Thursday 1 October 2009 at 03:20:00 CODA 2go rebranded as FinancialForce.com Salesforce.com has taken a stake in a new accounting service set to launch on its Force.com platform. The enterprise services vendor has taken a minority stake in FinancialForce.com , a financial software startup which creates tools exclusively for the Force.com platform ...

Salesforce gets behind accounting startup (V3.co.uk via Yahoo! UK & Ireland News)
Salesforce.com has taken a stake in a new accounting service set to launch on its Force.com platform.

Concerns over FTSE 250 company's accounting policy (Accountancy Age)
Accountancy's watchdog has accused a FTSE 250 company of failing to adequately declare its intangible assets. The Financial Reporting Review Panel has released a statement where it expressed “concern” about the accounting policy of investment company Brewin Dolphin Holdings PLC.

Dallas, San Antonio accounting firms merging (Dallas Morning News)
Dallas accounting firm Travis Wolff Co. is merging with San Antonio-based Burnside Rishebarger PLLC. The combined organization will operate as TravisWolff Independent Advisors Accountants, with revenue of about $25 million.

Universal Accounting: Tax Preparer Registration Coming, Offers Recommendations (Marketwire via Yahoo! Finance)
SALT LAKE CITY, UT--(Marketwire - 10/01/09) - Universal Accounting , the nation's largest training center for accounting, bookkeeping and tax preparation with its Profit Expert(TM) Programs , announced today its recommendations regarding imminent Internal Revenue Service (IRS) tax preparer regulations. Universal Accounting representatives participated in three IRS panel discussions of tax ...

Local accounting firm named one of best to work for (Columbus Ledger-Enquirer)
A Columbus accounting firm has made an annual list of the best accounting firms to work for.

National Accounting, Tax and Business Consulting Firm RSM McGladrey Expands Reach with New Atlanta Office (dBusinessNews.com)
Atlanta — In a move designed to provide companies in the southeastern United States with greater access to its national resources and industry talent, RSM McGladrey – one of the nation and Florida ’s leading accounting, tax and business consulting firms – has entered the Atlanta market by opening an office in midtown.

SCORE Accounting Seminar Oct. 10 (The Southern Pines Pilot)
The Sandhills Chapter of SCORE (Counselors to America's Small Business) will continue its free "Business Basics" series of seminars Saturday, Oct. 10, with the popular "Accounting for You and Me." The seminar begins at 9 a.m. in room 103 of Van Dusen Hall on the Sandhills Community College campus. Registration is required and may be done by calling 695-3938 or sending an e-mail to [[[SHIFTOUT ...

Salesforce.com Invests in a Provider of Software-as-a-Service Accounting (CRM Magazine)
Coda 2go, an application built natively on Salesforce.com's Force.com platform, becomes FinancialForce.com, a new company backed by Salesforce.com and Unit 4 Agresso, parent company of accounting software vendor Coda.

Salesforce.com and Unit 4 Agresso Form Accounting JV (Computer Business Online via Yahoo! UK & Ireland News)
Enterprise cloud computing company Salesforce.com has forayed into the accounting software market through a joint venture with Dutch company Unit 4 Agresso.

Arxis Technology Principal Selected as One of the "Top 100 Most Influential People" in Accounting (PRWeb via Yahoo! News)
Arxis Technology Principal Selected as One of the "Top 100 Most Influential People" in Accounting - David Cieslak Honored for the Fourth Consecutive Year Los Angeles, CA, October 5, 2009 - David Cieslak, CPA, CITP, Principal of Arxis Technology, Inc., was recently chosen by Accounting Today as a member of their "Top 100 Most Influential People" in the accounting profession.

Big changes expected in the accounting profession (The Tuscaloosa News)
By Patrick Rupinski Staff Writer TUSCALOOSA | Most of the laws and regulations governing accounting practices were written during the Great Depression, but that's changing, and the accounting profession is about to see its biggest changes in almost 75 years.

Insured Municipal Income Fund Inc. Engages Independent Public Accounting Firm (Business Wire via Yahoo! Finance)
NEW YORK----Insured Municipal Income Fund, Inc. today announced that the Fund’s Board of Directors has approved the engagement of Tait, Weller & Baker LLP, Philadelphia, Pennsylvania, as the Fund’s independent registered public accounting firm to provide audit and tax services for the fiscal year ending March 31, 2010.

Accounting Services from Analytix Solutions Help you Save 40% Costs While Managing your Books Efficiently (dBusinessNews.com)
If you are not a whiz at making calculations and your business’ books of accounts seem like a jigsaw puzzle to you, you can stop worrying; with Analytix Solutions’ accounting services, you can efficiently manage your books as well as save costs.

Former KPMG partner sues accounting firm for $30 million (Los Angeles Times)
David Greenberg, who was acquitted of charges of defrauding the government in one of the biggest tax fraud cases in U.S. history, alleges that KPMG owes him for attorney fees and other losses. A former KPMG partner who was acquitted of charges of defrauding the government in one of the biggest tax fraud cases in U.S. history has filed a lawsuit against the accounting giant alleging that KPMG ...

Accounting Error Boosts State Budget Deficit (KITV Honolulu)
Gov. Linda Lingle says an accounting error has added $44 million to the stage budget shortfall.

Accounting peer review released (Chambersburg Public Opinion)
CHAMBERSBURG -- Rotz & Stonesifer PC was recently notified by the Peer Review Committee of the Pennsylvania Institute of Certified Public Accountants that it has successfully completed an independent quality review of its accounting and auditing practices.

Climate change hits poor countries hardest: WB (AFP via Yahoo! News)
The developing world will suffer about 80 percent of the damage from climate change despite accounting for only around a third of greenhouse gases in the atmosphere, the World Bank said on Sunday.

Awards (Detroit Free Press)
The Finance Management Association honored Ramesh Garg, professor of finance and international business, department of accounting and finance, Eastern Michigan University, with the FMA International Superior Faculty Adviser Award.

Accounting Dept. (Boston Globe)
There are five legitimate candidates for Red Sox MVP, but in the final analysis, the player who set the tone, battled every step of the way, and showed the most selfless behavior was Kevin Youkilis.

CYMA Accounting Software Discounts Prepare Nonprofits for Growth in 2010 (PRWeb via Yahoo! News)
CYMA Systems is offering deep discounts through 2009 on its award winning nonprofit accounting software, CYMAIV Not-For-Profit Edition. By most accounts, the recession is easing, and CYMA hopes that aggressive discounts will help nonprofits prepare their accounting and payroll systems for growth in 2010.

CYMA Systems Discounts Accounting Software for Independent Care Marketplace (PRWeb via Yahoo! News)
CYMA Systems is offering deep discounts through 2009 on its award winning nonprofit and for profit accounting software. The healthcare industry is poised for major growth starting in 2010 and CYMA's CDS friendly software is designed to help in independent care providers manage growth in 2010.

CYMA Accounting Software Discounts Prepare Nonprofits for Growth in 2010 (PRWeb)
CYMA Systems is offering deep discounts through 2009 on its award winning nonprofit accounting software, CYMAIV Not-For-Profit Edition. By most accounts, the recession is easing, and CYMA hopes that aggressive discounts will help nonprofits prepare their accounting and payroll systems for growth in 2010. (PRWeb Oct 5, 2009) Read the full story at (link) CYMA ...

CYMA Systems Discounts Accounting Software for Independent Care Marketplace (PRWeb)
CYMA Systems is offering deep discounts through 2009 on its award winning nonprofit and for profit accounting software. The healthcare industry is poised for major growth starting in 2010 and CYMA's CDS friendly software is designed to help in independent care providers manage growth in 2010. (PRWeb Oct 5, 2009) Read the full story at (link) 10 ...

Sage Intros Simply Accounting 2010 (WebCPA)
Sage Software has introduced Simply Accounting by Sage 2010, the latest version of its accounting software for small businesses.

Grand opening today for new accounting office (Salem Statesman Journal)
Kimberly Santana is launching an accounting business in Jefferson with a grand opening today. Santana & Associates is at 115 S Second St.

NKorea got $2.2B under failed disarmament deals (AP via Yahoo! News)
North Korea has received the equivalent of about $2.2 billion under deals aimed at persuading the isolated nation to dismantle its nuclear facilities, a South Korean lawmaker said Monday, in what his office says is the first accounting of the cost of the failed strategy.

FASB Accounting Standards CodificationTM Now Provides Users with Information about Related XBRL Elements (Business Wire via Yahoo! Finance)
NORWALK, Conn.----Users of the FASB Accounting Standards CodificationTM will now find it easier to access certain information about eXtensible Business Reporting Language elements of the U.S.

The Hindu Business Line : Single authority for auditing, accounting standards soon (The Hindu)
The Government is planning to strengthen the National Advisory Committee on Accounting Standards (NACAS), a move that will make the Institute of Chartered Accountants of India (ICAI) report to NACAS. For this, it will hand over the supervisory role of both accounting and auditing standards to NACAS.

Dell Settlement Has Tougher Accounting Oversight (SmartPros Accounting)
September 28, 2009 (Associated Press) SEATTLE - Dell Inc. said Monday it will beef up accounting and corporate governance rules as part of a settlement tied to an investigation into its past financial practices.

State Halts Tobacco Money to Little Shell Tribe Due to Accounting Problems (KFBB Great Falls)
BILLINGS, Mont. - State officials have stopped distributions of tobacco grant money to the Little Shell Tribe of Chippewa Indians after an audit revealed problems with the tribe's accounting practices.

Little Shell audit reveals accounting problems (KPAX Missoula)
The Little Shell tribe is no longer receiving tobacco grant money after an audit revealed problems with the tribe's accounting practices.

Accounting standards boardsticking to January 1 deadline (Business Times (Malaysia))
THE Malaysian Accounting Standards Board (MASB) said it will not extend the January 1 2010 deadline for local public-listed companies (PLCs) to mandatorily adopt the Financial Reporting Standards (FRS) 139.

Community service project adds up for accounting majors (Post-Tribune)
VALPARAISO -- Purdue University Calumet junior accounting major Elizabeth Holesapple didn't mind painting and sprucing up an apartment on McCord Road, home of some Housing Opportunities clients. Holesapple, of Dyer, attended Christian schools while growing up. She performed a lot of community service and also did projects through her church, but she hasn't had as many opportunities since going ...

Economic versus Accounting Profit (Guru Focus)
By William J. DeRosa, Jr., CFA. "Frequently, the maximization of economic profits is in direct conflict with the maximization of immediate accounting profits." This line is from Martin Whitman's classic The Aggressive Conservative Investor. When we consider company press releases regarding earnings, it is the always earnings or earnings per share that is most often cited. This measure is ...

American Accounting Association Selects Dissertation by Capella University PhD Graduate for its KPMG Outstanding ... (Business Wire via Yahoo! Finance)
MINNEAPOLIS----The Gender Issues & Worklife Balance section of the American Accounting Association has selected the dissertation written by Capella University PhD graduate Dr. Charles M.

Accounting Firm AuldridgeGriffin Honors Founding Partner, Celebrates Growth (Business Wire via Yahoo! Finance)
FORT WORTH, Texas----Fort Worth-based accounting firm AuldridgeGriffin PC today recognizes founding partner Mike Griffin for his 25th year of leadership and the role he plays in the firm’s continued success.

Volt Information Sciences Updates Status of Accounting Review and Announces Amendment of Securitization Program (Business Wire via Yahoo! Finance)
NEW YORK----Volt Information Sciences, Inc. today updated the information provided in its press release of September 9, 2009 concerning its reexamination of accounting in prior periods for revenues under certain customer contracts.

Volt expands accounting review back to 2002 (AP via Yahoo! Finance)
Temporary employee service Volt Information Sciences Inc. said Tuesday it has expanded its review of revenue accounting.

Volt expands accounting review back to 2002 (INO News)
(AP:NEW YORK) Temporary employee service Volt Information Sciences Inc. said Tuesday it has expanded its review of revenue accounting. Volt said it is now reviewing about $20 million in revenue, along with associated expenses, from fiscal 2002 to 2008 and the first three quarters of 2009.

Accounting Coordinator (FOX 25 Boston)
JOB OF THE DAY - Infusion Nurses Society, a Not-for-Profit specialty nursing membership organization, currently has an opportunity for an Accounting Coordinator to perform administrative responsibilities and assist the Accounting Manager in the efficient operations within the Finance Department.

Quantum Receives ComputED EDDIE Award for AI-Based Tutoring Software for Accounting (PRWeb via Yahoo! News)
Quantum Simulations, Inc. recognized by ComputED Gazette's 14th Annual Education Software Review Awards for the research and development of the Quantum Tutors for the Accounting Cycle

CBI announces agenda for upcoming Biotech/Pharma Finance and Accounting Forum in San Francisco (News-Medical-Net)
The Center for Business Intelligence (CBI), a division of Advanstar Communications, is pleased to announce the full agenda for the upcoming Biotech/Pharma Finance and Accounting Forum in San Francisco on November 19, 2009.

New accounting rules could help Apple, Palm (San Jose Mercury News)
SEATTLE — Regulators are changing accounting rules so technology companies can report sales for certain gadgets all at once.

Forensic Accounting Firm Streamlines Operations Capabilities with Maconomy (Business Wire via Yahoo! Finance)
BOSTON----A major US forensic accounting firm has joined a growing number of accounting firms to select Maconomy for its new practice management system.

Tom Sponsel, CPA, Forms One of Indianapolis Newest Full Service Accounting Firms (dBusinessNews.com)
INDIANAPOLIS – [October 7 , 2009] – Thomas Sponsel, CPA/ABV, CVA, CFF, has announced the formation of Sponsel CPA Group, LLC, soon to become one of Indianapolis’ top full service accounting firms.

Accounting firms announce merger (The Sarasota Herald-Tribune)
Staff Report North and Co., a nine-person Sarasota-based accounting firm, is merging with an Ohio-based firm that is one of the largest nationwide. The 60-year-old Hill, Barth & King already has Florida offices in Fort Myers, Naples and Stuart. The company, with 280 employees, also operates three offices in Ohio and four in Pennsylvania.

Motors Liquidation Picks Accounting Firm for Remnants of Old GM (Bloomberg)
Oct. 8 (Bloomberg) -- Motors Liquidation Corp. , the company that represents the remnants of predecessor General Motors Corp. that were left in bankruptcy, chose an accounting firm as the former automaker’s remaining assets are unwound.

Fesnak & Associates, LLP Named a Leading Provider of Accounting Services in U.S. (Marketwire via Yahoo! Finance)
BLUE BELL, PA--(Marketwire - 10/08/09) - Fesnak & Associates, LLP ( www.fesnak.com ), which provides middle-market clients in the mid-Atlantic states with sophisticated accounting, tax and financial services, announced today that it has been chosen by Goldline Research as one of the "Leading Providers in the United States: Accounting Professionals" for 2009. The list ...

AmerInst Insurance Group Enters Into New Agreement to Provide Professional Liability Insurance to Accounting Firms (Marketwire via Yahoo! Finance)
HAMILTON, BERMUDA--(Marketwire - 10/08/09) - AmerInst Insurance Group, Ltd. ("AmerInst") today announced an agreement with certain insurance companies of Crum & Forster Holdings Corp. ("C&F") to provide professional liability insurance to accounting firms. C&F insurance companies are rated A (Excellent) by A. M. Best Company. AmerInst's recently formed subsidiary, AmerInst Professional Services ...