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Accounting News 02/2012



CALL FOR PAPERS: COMMUNICATION IN ACCOUNTING EDUCATION
Accounting Education: an international journal invites submissions for a themed issue on communication in accounting education. Accounting, often described as “the language of business,” requires a diverse set of written and oral communication skills.

Wave Accounting Launches Wave Payroll in Canada
Wave Accounting Launches Wave Payroll in Canada

Need for rethink on long accounting hours
I REFER to “Accounting firms pushing interns to breaking point”, ( Sunday Star , Jan 22) and the comments that followed.

Accounting firm opens Cebu branch with bullish optimism
Just less than two years since starting operations, Reyes Tacandong and Company has made it to the top five accounting, auditing and advisory firms in the country.

Comptroller findes accounting problems in Pickett Co.
An audit of Pickett Co.'s accounting and bookkeeping practices found several problems and issues the Comptroller's Office felt needed addressed, according to a recent audit.

Nortel accounting reserves could have already been in progress, court told
Defence suggests staff may have been preparing legitimate new provisions even before they received call from Harrison

Matthews, Carter & Boyce Named Top 50 Accounting Firm in Washington Business Journal's 2012 Book of Lists
FAIRFAX, Va., Feb. 2, 2012 /PRNewswire/ -- Matthews, Carter & Boyce ("MCB"), a boutique full-service accounting firm serving the Washington D.C. area since 1947, has been named #32 on Washington ...

Nortel was profitable even without accounting reserves, court told
Defence in fraud trial suggests bonus target was met in first quarter of 2003 without using accruals

Xero Raises $16.6 Million to Fuel Growth in U.S. Market
SAN FRANCISCO, CA-- - Xero online accounting software for small businesses has secured $16.6m funding from existing investors to accelerate growth in the United States. The company recently appointed accounting ...

SEC names top federal auditor to accounting board
Federal regulators have appointed a top government auditor as a member of the Public Company Accounting Oversight Board, which polices the accounting industry.The Securities and Exchange Commission on ...

SEC fills spot on accounting oversight board
The Securities and Exchange Commission on Friday named an official at the Government Accountability Office, Jeanette M. Franzel, to serve as a watchdog over corporate audits , filling a potentially pivotal seat on an oversight board that was created in the aftermath of the Enron and WorldCom accounting scandals. Read full article >>

Accounting Tricks Won’t Keep Bills From Coming
Recently the federal government announced that the budget deficit for the fiscal year ending Septemb ...

SEC names top federal auditor to accounting board
SEC names top federal auditor to accounting board WASHINGTON (AP) — Federal regulators have appointed a top government auditor as a member of the Public Company Accounting Oversight Board, which polices the accounting industry. The Securities and Exchange Commission on Friday announced the appointment of Jeanette Franzel, a managing director of the watchdog Government Accountability Office, to ...

Cloud Accounting Benchmark Survey Seeks Participants
Cloud Accounting Institute launches research study of Software as a Service (SaaS) for accounting and finance professionals.Naperville, IL (PRWEB) February 05, 2012 The Cloud Accounting Institute (CAI), a clearinghouse of information on cloud computing dedicated to the needs of accounting and finance professionals, invites participation in it’s Benchmark Survey on Software as a Service for ...

Locally based accounting firms build success in a field of heavy hitters
Three of the biggest South Florida-based accounting firms have built national reputations as a hometown alternative to the top financial players.

Creative financing
' Creative accounting ' has been practised by politicians for over 5 decades.

Cloud Accounting Institute Launches SaaS Survey
Cloud accounting and finance education and advocacy group The Cloud Accounting Institute has launched a benchmark survey on Software as a Service for the accounting profession.

Stanford used fake accounting to back bank: witness
HOUSTON (Reuters) - Allen Stanford used fake accounting to prop up his offshore bank in its waning days, as withdrawal requests from investors poured in, Stanford's former top deputy said on Monday. Faced with a worrying number of withdrawals in 2008, Stanford came up with a plan to make a $600 million capital infusion into the bank, said James Davis, Stanford's former chief financial officer ...

Stanford Used Fake Accounting to Back Bank, Witness Says
Allen Stanford used fake accounting to prop up his offshore bank in its waning days, as withdrawal requests from investors poured in, Stanford's former top deputy said on Monday.

Creative financing
' Creative accounting ' has been practised by politicians for over 5 decades.

Reliance Life Insurance to have accounting profit this fiscal
Kolkata, Feb 7 (IANS) Reliance Life Insurance, a part of Reliance Capital, is expected to register its first year of accounting profit this financial year, a top executive of the company said Tuesday.

Rapid Growth Spurs Savory Sandwiches Inc.'s Adoption of Intacct
SAN JOSE, Calif., Feb. 7, 2012 /PRNewswire/ -- Intacct, a leading provider of cloud financial management and accounting software , today announced that Savory Sandwiches Inc., an owner of multiple Jimmy ...

GlobalSCAPE® Announces Appointment of Desiree Smith to Lead Company’s Financial Operations
GlobalSCAPE, Inc. , a leading developer of secure information exchange solutions, announced today Desiree Smith has been appointed the Company’s interim principal financial officer and interim principal accounting officer.

ASC Partners Selects Acumatica as its Choice of Cloud ERP Software
Acumatica, a provider of Cloud ERP software, today announced that Accounting Solutions Consulting Partners has joined Acumatica as a value added reseller in New England. Begi

Red Mountain Resources Appoints Hilda D. Kouvelis Chief Accounting Officer
Red Mountain Resources, Inc. , a growth-oriented energy company engaged in the acquisition, development and exploration of oil and natural gas properties, today announced the appointment of Hilda D.

Accounting industry watchdog's biggest fine yet: Ernst & Young to pay $2M for audit lapses
WASHINGTON - The watchdog agency for the accounting industry says it has fined big firm Ernst & Young $2 million for alleged lapses in three audits of a pharmaceutical company.

Ernst & Young paying $2M in audit settlement
The watchdog agency for the accounting industry said Wednesday that it has fined big firm Ernst & Young $2 million for alleged lapses in three audits of a pharmaceutical company.

Accounting industry watchdog's biggest fine yet: Ernst & Young to pay $2M for ...
Accounting industry watchdog's biggest fine yet: Ernst & Young to pay $2M for ...

Spectrum Brands Reduces Operational Risk with Hedge Accounting Insight
VANCOUVER, British Columbia, Feb.  9, 2012 /PRNewswire/ -- Spectrum Brands, the multi-billion dollar company behind leading brands Rayovac and Remington, has selected Hedge Accounting Insight as its hedge ...

The Public Accounting Program at Rasmussen College Now Available at all Minnesota Campus Locations
MINNEAPOLIS, Feb. 9, 2012 /PRNewswire/ -- Rasmussen College announced today it has expanded availability of its Public Accounting degree program, launching the Bachelor's degree program at all Minnesota ...

Canadian Small Businesses: Kashoo and PaymentEvolution Are Partnering Up to Soothe Your Accounting & Payroll Headaches
TORONTO, ONTARIO-- - For Canadian small businesses, accounting and payroll are massive headaches. Recognizing this, and in the spirit of giving Canadian small businesses a break, Kashoo , a Vancouver-based ...

Global accounting reform ups pressure on U.S. to sign up
LONDON, Feb 9 (Reuters) - Plans by the accounting bodyresponsible for global standards to make itself more answerableto the public will put pressure on the United States to sign upor risk losing influence. ...

Britain to urge green accounting at Rio+20 summit
LONDON (Reuters) - Britain will urge businesses and governments to start accounting for natural capital as an additional way of measuring economic activity at a U.N. sustainability summit in June, its environment minister said on Thursday. This could mean moving towards a concept of GDP+, or measuring the use or loss of natural resources like water, agriculture and forests to gauge economic ...

Detecting Accounting Manipulation
"One-time charges" and "investment gains" are two strategies companies can use to distort their numbers.

UPDATE 1-Global accounting reform ups pressure on U.S. to sign up
(Adds comment) LONDON, Feb 9 (Reuters) - Plans by the accounting bodyresponsible for global standards to make itself more answerableto the public will put pressure on the United States to sign upor risk ...

The Public Accounting Program at Rasmussen College Now Available at all ...
The Public Accounting Program at Rasmussen College Now Available at all ...

Britain to urge green accounting at Rio+20 summit
By Nina Chestney | LONDON (Reuters) - Britain will urge businesses and governments to start accounting for natural capital as an additional way of measuring economic activity at a UN sustainability summit in June, its environment minister said on ...

Global accounting reform ups pressure on US to sign up
By Huw Jones | LONDON (Reuters) - Plans by the accounting body responsible for global standards to make itself more answerable to the public will put pressure on the United States to sign up or risk losing influence. The International Accounting ...

Accounting for missing meson particles
Measurements from high-energy collision experiments lead to a better understanding of why meson particles disappear.

FASB Meets with Japanese Counterparts
By Michael Cohn, Accounting Today Members of the Financial Accounting Standards Board held a two-day meeting this week with officials from the Accounting Standards Board of Japan how they could better align accounting rules. The meeting on Monday and ...

'Accounting gimmick' -- Obama compromise still threatens religious liberty ...
'Accounting gimmick' -- Obama compromise still threatens religious liberty ...

State comptroller's audit points to accounting "deficiencies" in village of ...
State comptroller's audit points to accounting "deficiencies" in village of ...

California accounting firms call off big merger
Steve Mayer, managing partner at Burr Pilger Mayer, said a merger with a Southern California accounting firm was called off when both parties "came a little short of the goal line." The deal, which had been expected to close early this year, ...

Catholics Not Fooled Over Accounting Gimmick
"President Obama has introduced an accounting gimmick to appease voters over his recent Health and Human Services mandate. The so-called compromise announced today will continue to force virtually all employers, including religious institutions, ...

Wanted: honesty in accounting
By Dale Kooyenga Even though I'm an accountant, if there is a social event, accounting is not on my top 10 list of fun things to talk about. However, our government's accounting should be topic No. 1 when discussing politics at both the state and ...

Accounting hiccup cuts $1.4 million from Columbia's surplus
By CLIF LeBLANC - [email protected] The city of Columbia's surplus took a $1.4 million hit last week because of problems in accounting procedures. But the net effect is that, overall, city books still have a $14 million surplus rather than $15.4 ...

Turkmenistan approves accounting and financial reporting standards
Turkmen President Gurbanguly Berdimuhamedov signed a decree to approve the accounting and financial reporting standards. The matter rests in the approval of allowable limits of the main asset volumes in the calculation for local and foreign legal ...

Rimrock Accounting sets up shop downtown
Julie (Collison) Rubis and Etta Zoller in the Rimrock Accounting office in the Triangle News building. The Triangle News has some company around the office. Rimrock Accounting has rented office space in the Centre Street building during income tax ...

London… promoting Malta as a captive jurisdiction
Another stirring topic was international accounting standards and compliance introduced by Gui Iglesias, Manager FS Assurance Services KPMG, and Michael Tagg, Director, Insurance Solutions, KPMG. Both reminded the audience that in July 2010, ...

Nashville People in Business
Jennifer Lane has been named principal with Decosimo/Vaden, the Nashville office of the regional public accounting and advisory firm Decosimo Certified Public Accountants. Lane has more than 20 years of experience in public accounting and specializes ...