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Accounting News 11/2010



SEC Progresses Work Plan For Global Accounting Standards,
The United States’ Securities and Exchange Commission (SEC) has published its first progress report on the work plan aimed at providing the information needed to evaluate the implications of incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for US securities’ issuers.

Career Satisfaction Low Among Women in Accounting & Finance; Many Believe They Aren't Equally Compensated Compared to ...
Less than half of women in accounting and finance are satisfied with their careers and only 19 percent believe they are equally compensated for their work as compared to their male counterparts, according to the new Mergis Group Women in Finance survey.

More Fire Department Accounting Fallout
The poor -- even non-existent -- accounting practices in the Omaha Fire Department, exposed last week by the Nebraska State Auditor, will be the focus of a resolution Tuesday before the Omaha City Council.

Baker Tilly booklet geared towards realising ETP
BAKER Tilly Monteiro Heng, the country's second largest mid-tier accounting firm, says it wants to help realise the Economic Transformation Programme (ETP) by strengthening the accounting sector.

Accounting Standards Board appoints IFRS 'architect' Roger Marshall amid controversy
Britain's accounting authority has raised questions over its independence by appointing an architect of IFRS as interim chairman in the middle of a heated dispute over the credibility of the rules.

Universal Key Discovered in Accounting for All Businesses
TULSA, Okla., Nov. 1, 2010 /PRNewswire/ -- Patent# 7,742,957B2 is the next logical extension to accounting as it is a verifiable mathematical approach that brings accounting full circle. Each business, based on costs, will know the exact profit or loss in each fee charged or product sold. It allows every business to set competitive prices and to see how one fee offsets the other to create and ...

Accounting Standards Board hires IFRS 'architect' Roger Marshall despite rule controversy
Britain's accounting authority has raised questions over its independence by appointing an architect of IFRS as interim chairman in the middle of a heated dispute over the credibility of the rules.

Accounting Aid Society needs tax volunteers
Volunteers interested in preparing income taxes for low- to middle-income neighbors for the upcoming tax season can register now for training with Accounting Aid Society.

Accounting Aid Society needs tax volunteers
Volunteers interested in preparing income taxes for low- to middle-income neighbors for the upcoming tax season can register now for training with Accounting Aid Society.

Accounting contractors’ pay hopes stabilise
Accounting contractor’s pay expectations have started to stabilise for the first time in the past 12 months, according to new research in New Zealand’s contracting market.

Lee County accounting firm makes sure it has knowledgeable clients
Steven Brettholtz said his accounting firm already is gearing up for tax season, but he knows the challenging months ahead aren't when the business...

Global Finance & Accounting Outsourcing Trends Revealed in New EquaTerra Study
Achieving cost savings is the primary driver in the Finance & Accounting Outsourcing market today, say 92 percent of study respondents, and ninety-one percent are satisfied with the service providers delivering their Finance and Accounting services.

Top 30 Accounting Networks and Associations 2009
Last November Accountancy Age ’s survey of international networks and associations reported that the global world of accountancy was having a good recession but there was a strong caveat.

Accounting 'deficiencies' fuelled banking crisis
Accounting rules were a significant contributing factor to the banking crisis, a House of Lords enquiry into the audit profession has heard.

Accounting for World War III
As members of the accounting community, we are aware of the shortcomings of the accounting model in measuring the true value within business. We have been aware of this problem for decades. We even know the problem is getting worse, yet what have we done about it?

US rulemaker proposes change in repo accounting
* Rule addresses difference between sales and financings

Accounting Professor Creates Affordable CPA Review Website
Accountants preparing for the Certified Public Accountant Exam who cannot afford expensive review programs can now access comparable reparation resources for free, largely because of the hobby of a University of Richmond accounting professor and his business partner.

FASB takes up insurance accounting
The Financial Accounting Standards Board is asking stakeholders for input on how to improve the accounting for insurance contracts in financial reports.

Prudential Beats on Accounting Gains
US life insurer Prudential threw a 48% earnings surprise in the quarter led by accounting gains in its Individual Annuities segment.

Survey says career satisfaction low among women in accounting
A new survey reports that 47 percent of women in accounting and finance are satisfied with their careers and only 19 percent believe they are equally compensated for their work.

Accounting Charges Wipe Out RBS Profits
Bailed out bank RBS says it made a pre-tax loss of £1.38bn in the three months to the end of September despite growing operating profits.

FASB Seeks To Improve Accounting For Repurchase Agreements,
The Financial Accounting Standards Board (FASB)has issued an Exposure Draft (ED) to solicit input from stakeholders on its proposal to improve accounting for repurchase agreements (repos) and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity.

ACSB UPDATE: TRANSITIONING TO PRIVATE ENTERPRISE ACCOUNTING STANDARDS
The Canadian Accounting Standards Board is hosting a webinar that will cover transition issues related to the adoption of new accounting standards for private enterprises.

Accounting Aid Society needs tax volunteers
Volunteers interested in preparing income taxes for low- to middle-income neighbors for the upcoming tax season can register now for training with Accounting Aid Society.

Accounting Aid Society needs tax volunteers
Volunteers interested in preparing income taxes for low- to middle-income neighbors for the upcoming tax season can register now for training with Accounting Aid Society.

Cindy Heath of Five Star Staffing & Accounting Recruiters Appointed to Small Business Department Board for Greater ...
Triangle - Cindy Heath, Principal, Five Star Staffing & Accounting Recruiters, will serve on the 2010-2011 Greater Raleigh Chamber of Commerce Small Business Department Board as Chair of the Chamber Roundtable program.

Kaseya Acquires XML Accounting Suite Developer ObjAcct
Kaseya will integrate the ObjAcct XML Accounting Suite into the Kaseya systems and service management platform.

Retirement liabilities can be shown as reserves
The country?s apex body on accounting standard has cleared way for a change in the way Indian companies account for their employee?s post-retirement benefits like gratuity.

LCCC credit card report: Tighten those procedures
CHEYENNE -- Accounting procedures at Laramie County Community College do not include steps to ensure credit card purchases are appropriate. That is the conclusion of an outside firm after a review of the college's policies and procedures.

At F.C. Barcelona, Accounting Battle Takes the Fight Off the Field
One of Barcelona's most successful presidents, Joan Laporta, found himself last month on the receiving end of a lawsuit initiated by his successor, Sandro Rosell, alleging unlawful accounting.