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Accounting News 05/2011



Accounting for public-private partnerships
In order to carry out the challenge and responsibility of developing and improving public infrastructure, government intends to collaborate with the private sector through the public-private partnership (PPP) program.

Mahanoy Twp. supervisors appoint accounting firm
The Mahanoy Township supervisors Thursday appointed a public accounting firm to audit the township's financial records.Their action replaces the township board of auditors, which the township has the authority to do under the Second Class Township Code.

Accounting and Payroll Grads Take Gold, Silver and Bronze Awards in Pacific Region
Vancouver Career College alumni nab top three Canadian Payroll Association honours (PRWeb May 02, 2011) Read the full story at (link) prweb8360844.htm

FASB ISSUES ACCOUNTING STANDARDS UPDATE TO IMPROVE FINANCIAL REPORTING OF REPURCHASE AGREEMENTS
The FASB has issued an Accounting Standards Update (ASU) to improve the financial reporting of repurchase agreements (“repos”) and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity.

FIMAC Solutions Plans Release of Portfolio Accounting Analytics(C)(TM)
New Model to Offer Bankers the Ease of an SaaS Platform Backed by 40 Years of Bond Accounting Experience

Accounting and Payroll Grads Take Gold, Silver and Bronze Awards in Pacific Region
Vancouver Career College alumni nab top three Canadian Payroll Association honours

ACCOUNTING PRINCIPLES, 10TH EDITION
Ideal for a first course in accounting, Weygandt's Accounting Principles introduces challenging accounting concepts with examples that are familiar to accountants. The new edition has been updated with the latest IFRS/IASB standards.

Nathans directors 'could have been more conservative'
An accounting and financial disclosures expert believes the Nathans Finance directors could have been more conservative when borrowing money from institutions on the security of shares, the High Court at Auckland heard yesterday.Barry...

Energy Deals Derailed by Obscure Accounting Rule
Nearly a decade after the most elaborate exercise in accounting fraud in America's history ended in bankruptcy and prison sentences, the U.S. energy industry has yet to escape Enron's ghost. Now, courtesy of esoteric changes in accounting standards being implemented by the Financial Accounting Standards Board (FASB), we can add energy efficiency and clean energy to the list of casualties killed ...

Students get a peek at accounting careers
Young accounting professionals help groom the next generation of CPAs.

Nihill & Riedley Expands its Accounting Talent
Nihill & Riedley, P.C., a Smart Devine Company, announces today it has hired four new accounting professionals as the firm continues to grow its litigation and insurance practices - Heather Craden, Angela Shindledecker, Christopher Bradish and Matthew Musgnung (http://www.nihillriedley.com).

Accounting Management Solutions Founder Says Business Transactions on the Rise
WALTHAM, Mass.--(BUSINESS WIRE)--Advice for business owners considering a sale, or any other type of business transaction

Emera profit jumps on accounting gains
Power provider’s profit jumps to $123.6-million from $77.8-million a year earlier

Livent co-founders deny directing accounting of kickbacks
Lawyer tells court Drabinsky, Gottlieb admit receiving money under scheme, but weren't involved in treatment of invoices

PwC reported to accounting regulator after taking out criticism of client from report
PriceWaterhouseCoopers has been reported to the accounting regulator, after agreeing to remove criticisms about its client from a £1.5m independent report into allegations made by a whistleblower.

Bountiful accounting firm’s auditing practices rebuked
Bountiful accounting firm’s auditing practices rebuked By Tom Harvey The Salt Lake Tribune Published May 3, 2011 09:12PM MDT A federal oversight board has permanently barred a Bountiful accounting firm from auditing publicly traded companies after finding numerous violations of professional standards, including failure to detect fraud. The Public Company Accounting Oversight Board issued the ...

SME accounting standards response 'bigger than expected'
THE CONSULTATION on international accounting standards for SMEs (FRSME) closed on Saturday with a response that exceeded expectations.

In their prime, but do some accounting standards face the chop?
ACCOUNTING STANDARDS for SMEs are currently undergoing a lengthy consultation but some have argued that standards for smaller enterprises are more worthy of review.

Livent defendants knew about improper accounting: Crown
‘It isn’t a rubber stamping - they were involved,’ lawyer in fraud appeal hearing says of co-founders Drabinsky, Gottlieb

Accounting change lifts NuVasive 1Q profit
Medical device maker NuVasive Inc. said Wednesday its profit grew in the first quarter because of a change in its accounting procedures and an increase in revenue.

Accounting firms must get black owners
Big accounting firms have to be 32.5% black-owned by 2016, a new BEE charter reportedly stipulates.

Accounting firms get BEE charter
Big accounting firms have to be 32.5 percent black-owned by 2016, the black economic empowerment (BEE) charter for the profession stipulates, the Business Day newspaper reported on Thursday.

Accounting firms get BEE charter
Big accounting firms have to be 32.5 percent black-owned by 2016, the black economic empowerment (BEE) charter for the profession stipulates, the Business Day newspaper reported on Thursday.

iShade.com - The Accounting Profession Online - Offers Free Intranet
iShade.com, the free online professional network and community for accountants, is offering a no-cost intranet to accounting firms. This opportunity is available to firms that register their employees as users of iShade.com. Launching on May 24, 2011, iShade is offering this secure and reliable communication and collaboration tool to help member firms keep their employees informed and connected ...

Wolters Kluwer Tax & Accounting Expands Portfolio of Tax & Accounting, ERP Software Solutions in Europe with ...
Riverwoods, ILL. (May 6, 2011) - Wolters Kluwer Tax & Accounting announced that it has acquired the software company, TopPower, a provider of tax, accounting, and ERP software solutions to professionals. TopPower, based in Belgium, …

Wolters Kluwer Tax & Accounting Expands Portfolio of Tax & Accounting, ERP Software Solutions in Europe with ...
RIVERWOODS, IL--(Marketwire - May 6, 2011) - Wolters Kluwer Tax & Accounting announced that it has acquired the software company, TopPower, a provider of tax, accounting, and ERP software solutions to professionals. TopPower, based in Belgium, will become part of the division's Belgian business, Kluwer. Wolters Kluwer Tax & Accounting is the global leading provider of tax, accounting, and audit ...

Snyder each year makes a good accounting of itself at UIL state meet
AUSTIN — The three boys and one girl from Snyder High School didn't look like Old West gunslingers when they walked into the café Friday evening at the Thomas Conference Center on the campus of University of Texas.

'US economic recovery accounting sham'
With the worst unemployment rates since World War II, the US government continues to spread the word that its economy is recovering.

Barclays reported to accounts regulator by investors
A group of investors has written to Britain's accounting watchdog seeking a review of Barclays' accounts amid concerns that rules used to report bonus liabilities may have distorted its results.

Accounting error blows £1m hole in Essex Crane
AN ACCOUNTING ERROR has forced US company Essex Crane to reissue its 2010 financial statement, boosting its net loss by £1.1m.

Parallel accounting bill presented to Commons
A BILL requiring companies to prepare two sets of accounts will have a second reading in the House of Commons next month.

Accounting Today and iLumen Announce Launch of WebCPA Client Connection, a New Analytical Portal for the Accounting ...
http://www.myprgenie.com) -- Accounting Today and iLumen announced the launch of "WebCPA Client Connection," an online analytical platform designed to connect public accountants with their small and mid-market business clients.

Accounting Today and iLumen Launch WebCPA Client Connection
Accounting Today and iLumen have introduced WebCPA Client Connection, an online analytical system that connects public accountants with their small and midsized business clients.

Feds' audit slams utility
National Grid's accounting became an issue last year when the company requested a $360 million rate increase for upstate New York electricity customers from the state Public Service Commission. Regulators found that the rate plan included improper, and in many cases highly questionable, expenses to be charged to ratepayers, such as private school tuition for executives sent to the U.S. from ...

Accounting software classes to be offered
The Small Business Development Center has scheduled a QuickBooks training workshop May 18 and 19 in Room 159 at the Dillard College of Business Administration at MSU.

Is your accounting software helping – or hindering you?
Is your accounting software helping – or hindering you? According to a recent survey, 47% of SME’s are not happy with their accounting software – with most saying they find accounting software too hard to use.

Former Torex Retail chairman charged with false accounting
THE FORMER chairman and CEO of Torex Retail has been charged with false accounting.

Sage Simply Accounting Delivers Integrated Business Intelligence Reporting Solution That Makes Critical Information ...
Sage Simply Accounting Intelligence Enables SMBs to Make More Informed Business Decisions While Augmenting Their Financial Literacy

M3 Hotel Accounting Relocates Corporate Offices in Gainesville, Georgia
M3 Hotel Accounting has relocated its corporate offices to 340 Jesse Jewell Parkway SE, Suite 600 in Gainesville, Georgia. The move doubles operations space for the growing hotel accounting and payroll services company, where more than 15 jobs have been added in the last few years. Enhanced customer service, data center and training facilities have been designed to support improved company ...

House seeks accounting of aid money to Haiti
The House on Tuesday asked the Obama administration to come up with an accounting of how humanitarian and reconstruction aid is being spent in Haiti, which has been slow to recover from the devastating earthquake of more than a year ago despite an outpouring of U.S. and international assistance.

House seeks accounting of aid money to Haiti
The House on Tuesday asked the Obama administration to come up with an accounting of how humanitarian and reconstruction aid is being spent in Haiti, which has been slow to recover from the devastating earthquake of more than a year ago despite an outpouring of U.S. and international assistance.

CPAexcel CPA Review Announces Winners of the Spring 2011 Accounting College Student Scholarship Program
CPAexcel Awards over $46,000 in Scholarships to 31 University Accounting Students

M3 hotel accounting relocated corporate office to Gainesville.
GAINESVILLE-M3 Hotel Accounting has relocated its corporate offices to 340 Jesse Jewell Parkway SE, Suite 600 in Gainesville, Georgia. The move doubles operations space for the growing hotel accounting and payroll services company, where more than 15 jobs have been added in the last few years.

Bean Accounting: Are Soy-Based Food Products as Safe and Healthy as Advertised?
Dear Earth Talk : How healthy is soy? I heard that, despite its healthy image, most soy is grown using chemicals like other crops and is even being genetically modified. -- D. Frinka, Syracuse, N.Y. Food products made with soy have enjoyed great popularity in the U.S. and elsewhere in recent years. Two decades ago, Americans spent $300 million a year on soy food products; today we spend over $4 ...

Accounting firm moving into space in old Parker Furniture building; new downtown coffee shops planned
Michael Paskel of Macon, with Reid Construction, helps renovate the Parker Furniture building at Fifth and College streets Tuesday afternoon. Mitchener, Crowder and Stacey Certified Public Accountants is moving into the building.

Accounting changes push Onex loss to $204-million
Diversified investment company sees quarterly revenue grow to $5.9-billion

Intuit Online Payroll Mobile App Gets Employees Paid Anywhere, Anytime
Small business owners and accounting professionals dont have to cut summer vacations short to make ...

CHS accounting team takes silver medal at state contest
Cleburne High School accounting teacher Lisa Benson began looking for the silver lining when she and her four-member accounting team — all rookies — began the 2011 UIL academic contest season.

Financial Accounting Foundation to Discuss Next Steps in Post-Implementation Review Process in May 20 Webcast
NORWALK, Conn.--(BUSINESS WIRE)--The Financial Accounting Foundation (FAF), the oversight body for the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), will discuss the next phase of its post-implementation review process for financial accounting and reporting standards in a webcast on May 20. A pilot test of the post-implementation review ...

EADS blames accounting change for 1Q loss
Airbus parent company EADS NV Friday blamed an accounting change for a first quarter loss but said it was on track to hit its annual sales and delivery targets.