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Accounting News 03/2012



UW-Whitewater accounting students offer free tax help
By STAFF Thursday, March 1, 2012 WHITEWATER — Upper-level accounting students from the University of Wisconsin-Whitewater are offering Volunteer Income Tax Assistance clinics for qualifying low-income taxpayers 4-7 pm Tuesdays and 10 am to 2 pm ...

Accounting News Roundup: The Frenzy at MF Global; Transocean's Tax bill; NYC's ...
Accounting News Roundup: The Frenzy at MF Global; Transocean's Tax bill; NYC's ...

DLF's accounting gets a close look
Aggressive accounting approved by auditors, perpetuated and aided by investment bankers during the IPO process, the ill-informed media frenzy surrounding the IPO, and the company's high profile in Gurgaon—the outsourcing hub on the outskirts of New ...

State accounting quirk puts Batavia schools in the black
By Denise Linke For The Beacon-News March 1, 2012 1:46PM BATAVIA – A change in Illinois school accounting practices has put the Batavia School District budget almost in the black – but only on paper. School Board members this week objected when they ...

DeVry Inc. Appoints Patrick Unzicker to Vice President, Finance and Chief ...
DeVry Inc. Appoints Patrick Unzicker to Vice President, Finance and Chief ...

Japanese Accounting Gets Rare Ray of Sunlight: Jonathan Weil
The auditing profession's top US overseer usually does a flawless job of safeguarding the most embarrassing secrets of accounting firms and their corporate clients. Fortunately, every now and then, the watchdog slips up. Take the case of Kyoto Audit ...

Weil: Japan Accounting Gets Ray of Sunlight
By Jonathan Weil on March 01, 2012 The auditing profession's top US overseer usually does a flawless job of safeguarding the most embarrassing secrets of accounting firms and their corporate clients. Fortunately, every now and then, the watchdog slips ...

FASB and IASB Part Ways on Leasing Standards
By Michael Cohn, Accounting Today The Financial Accounting Standards Board and the International Accounting Standards Board are not seeing eye to eye on an important component of their leasing standards project involving income statement changes for ...

Debate stirs over CPA vote in April
Canton's Annual Town Meeting approved the Community Preservation Act (CPA) in the spring. It now heads to the ballot box. By Ruth Douillette In April, Canton voters will decide on adopting the Community Preservation Act, which allows communities to ...

Seattle the third-hottest spot for startup IT jobs
Its startup IT jobs have a median pay of $84400, and the area has 2.5 times as many such jobs as the national average, accounting for population. 2. Austin startup IT jobs have a median pay of $66600, and the area has 2.3 times as many such jobs as the ...

Vista College Offers New Business Management - Accounting Associates Degree At ...
Vista College Offers New Business Management - Accounting Associates Degree At ...

Josephine Teo explains accounting standards & financial support for companies
By Linette Lim | Posted: 02 March 2012 1628 hrs SINGAPORE: The proposed full convergence in accounting standards between the Singapore Financial Reporting Standards (SFRS) and the International Financial Reporting Standards (IFRS) "will not take place ...

Survey Finds Wide Concern over Lease Accounting Changes
By Michael Cohn, Accounting Today Proposed changes in leasing accounting standards are creating concerns among many businesses that use long-term leases, with 92 percent of executives in a new survey indicating they are unprepared to address the ...

Sarbanes-Oxley prompted spinoffs in accounting world
While accounting firms have expanded their lines of service in the past several decades, the 2002 federal Sarbanes-Oxley law put limitations on the scope of services they could offer clients. Firms that perform audits for publicly-traded companies ...

Salem accounting firm Fischer, Hayes and Associates, PC has hired Patty A ...
Salem accounting firm Fischer, Hayes and Associates, PC has hired Patty A ...

'Big Four' Accounting Firms Face New Regulatory Challenges in China
2 – As their joint venture (JV) agreements in China approach their expiration dates, the Big Four global accounting firms had hoped that they would be allowed to extend the terms of their JVs. However, according to a variety of sources, ...

New IBM Smarter Buildings Analytics to Help CFOs Prepare for Major Accounting ...
New IBM Smarter Buildings Analytics to Help CFOs Prepare for Major Accounting ...

Accounting: It's not just taxes and audits
Today's business accountants are doing way more than taxes and audits, as Reporter Dennis Domrzalski found when researching this week's Accounting Focus section. These days, accounting firms' services often extend into consulting, wealth management, ...

Moss Adams Intros Mobile Accounting News App
By Michael Cohn, Accounting Today Accounting and consulting firm Moss Adams has introduced a mobile app, making its digital magazine Moss Adams Insights accessible on any iPhone, iPod Touch, iPad and Android device. The free app allows users to ...

Former McGladrey higher-up, now a regulator, will speak at UI on Monday
Jay D. Hanson believes the capital markets depend on the work of rigorous, skeptical accountants, and there's work to be done to improve public company accounting. Hanson was appointed by the Securities and Exchange Commission to the board in January ...

Flagler College named top accounting program by Accounting Careers for Dummies.com
AUGUSTINE, FL (03/02/2012)(readMedia)-- Flagler College's business administration department has been named one of the top business accounting programs in Florida by AccountingCareersforDummies.com. Flagler was ranked ninth on the list of top 10 ...

New IBM Smarter Buildings Analytics to Help CFOs Prepare for Major Accounting ...
New IBM Smarter Buildings Analytics to Help CFOs Prepare for Major Accounting ...

CLC accounting students offer free tax preparation help
Central Lakes College accounting student Joni Warzecha of Hillman (left) worked on the income tax return of CLC dental assisting student Kari Johnson of Fargo, ND, in the VITA site on the Brainerd campus. The free service is provided for individuals ...

Marks Paneth & Shron Appoints William H. Jennings, CPA, as Partner-in-Charge ...
Marks Paneth & Shron Appoints William H. Jennings, CPA, as Partner-in-Charge ...

Miles Mason, Sr. Presents "Forensic Accounting 101"
Miles Mason, Sr. will present "Forensic Accounting 101" to the Tennessee Society of CPA's Memphis Chapter on March 13, 2012. Memphis, TN, March 03, 2012 --(PR.com)-- The Tennessee Society of CPA's Memphis Chapter presents “Forensic Accounting 101” on ...

McCusker & Company Engages Stephen M. Scheller for Strategic Accounting and ...
McCusker & Company Engages Stephen M. Scheller for Strategic Accounting and ...

Public company auditing needs improvement, says accountant
Jay D. Hanson believes the capital markets depend on the work of rigorous, skeptical accountants, and there's work to be done to improve public company accounting. A longtime accountant with McGladrey & Pullen and now a member of the Public Company ...

New accounting norms may make things tough for realty firms
The revised guidance note on accounting for real estate companies brought out by the Institute of Chartered Accountants in India (ICAI) would ensure consistency in revenue reporting, say developers. But experts say that this could make the already ...

Not easy to understand a P&L these days
by TONY PEREIRA "THE accounting profession has a lot to answer. The standard of foreign currency and deferred tax confuses the public (sic)," exclaimed Tan Sri Tony Fernandes on his Facebook page last week. Fernandes was responding to the negative ...

YouTube No Substitute to Press Release to Restate Earnings
The results in the magazine, published by the American Accounting Association, may not be too surprising. After all, as the AAA says in a press release, that "for all its vaunted powers, video can present special hazards for a company when those powers ...

IBM Introduces New Smarter Buildings Analytics to Help CFO's Prepare for Major ...
IBM Introduces New Smarter Buildings Analytics to Help CFO's Prepare for Major ...

HOUSTON CPA SOCIETY OFFERS TAX HELP FOR NONRESIDENT STUDENTS; REFERRALS FOR OTHERS
Led by E. Rhett Buck, attorney-CPA and site coordinator for the Houston CPA Society, Buck will be assisted by both volunteer CPAs and accounting students. Students will be served in the order they arrive. Last year, the Houston CPA Society helped 275 ...

Bryan Lawrence: Government accounting is, uh, different - Daily Mail
Under the accounting rules of the time, GM did not have to recognize the current cost of these future promises, as they were considered immaterial to the company's operations. Forty-two years later, Americans' longer life spans and increasingly ...

Capital Review Group Announces Membership in National Association of State ...
Capital Review Group Announces Membership in National Association of State ...

Early Sales Hit Record High for PDI's 7th Edition of Petroleum Accounting ...
Early Sales Hit Record High for PDI's 7th Edition of Petroleum Accounting ...

New IBM Smarter Buildings Analytics to Help CFOs Prepare for Major Accounting ...
New IBM Smarter Buildings Analytics to Help CFOs Prepare for Major Accounting ...

Yet another attack on Westport's Community Preservation
Although the Community Preservation Act (CPA) has easily defeated challenges at Town Meeting three times, the Selectmen voted (3-2) at the February 21 meeting to put CPA's future on a town-wide ballot in April. The same small anti-CPA group that failed ...

Study Examines Use of Video for Financial Restatements
By Michael Cohn, Accounting Today A new study suggests that using online video to announce a financial restatement can lead to an erosion in investor trust if not handled properly. The study, which appears in The Accounting Review, published by the ...

Korea's Dongjin Semichem Appoints CPA Global to Manage Patent Renewals
ALEXANDRIA, Virginia, March 5, 2012 /PRNewswire via COMTEX/ -- Dongjin Semichem Co., Ltd, one of the world's leading producers of electronic materials and fine chemicals, has appointed CPA Global to manage renewals of the company's expanding ...

Feds' Creative Accounting Masks Trillions in Unfunded Liabilities
A private institution that tried to get away with such accounting practices would be facing severe penalties. The Financial Accounting Standards Board, charged by the government with setting private-sector accounting standards, requires companies to ...

KPMG Facing U.K. Accounting Probe Over Equity Red Star Audits
Britain's accounting regulator will investigate KPMG Audit Plc over its accounting for Equity Red Star, one of the UK's largest motor insurance companies and a syndicate of Lloyd's of London. The probe will cover KPMG's audit of Equity Red Star Motor ...

Pension Plans: Are Big US Firms Getting Bullish Over New Accounting Step?
(Nasdaq: INTC) by switching to mark-to-market accounting for its $23.3 billion pension program. Under this approach, rather than smoothing out the impact of gains and losses in pension programs by amortizing them over many years, the true value of ...

LETTER: Attack on Community Preservation Act — again
By Anonymous Although the Community Preservation Act (CPA) has easily defeated challenges at Town Meeting three times, the selectmen voted (3-2) at the Feb. 21 meeting to put CPA's future on a townwide ballot in April. The same small anti-CPA group ...

Jerri Hammer Elected as Equity Partner at TravisWolff
Prior to her tenure at TravisWolff she worked at a local Dallas accounting firm for 10 years. Before returning to graduate school to pursue an advanced degree in accounting, Hammer practiced estate and probate law as a licensed attorney for almost a ...

Park National Corporation Chief Financial Officer John W. Kozak Announces ...
Park National Corporation Chief Financial Officer John W. Kozak Announces ...

Big Win for Accounting Profession in New Jersey Supreme Court
By Anne Rosivach In a unanimous decision, the New Jersey Supreme Court on February 16 reversed an Appellate Court decision in a case brought by a third party that found KPMG LLP guilty of negligence for failing to uncover accounting fraud by a former ...

Lawsuit seeks accounting of Fort Ord Resuse Authority money
By VIRGINIA HENNESSEY Open space advocates filed suit Monday to get an accounting of how the Fort Ord Reuse Authority spent nearly $100 million in federal funds. Keep Fort Ord Wild is asking a judge to compel FORA to release documents it first ...

FASB to Host March 12 Video Webcast, 2012 Chairman's Outlook on the FASB, with ...
FASB to Host March 12 Video Webcast, 2012 Chairman's Outlook on the FASB, with ...

Porte Brown's David Bowers Earns Certified Valuation Analyst (CVA) Designation
PorteBrown.com , a Chicagoland accounting firm, is pleased to announce that David Bowers has earned the designation of Certified Valuation Analyst (CVA). David successfully completed the certification process with the National Association of Certified ...

Cox Communications, UHY Advisors to Present with BlackLine at Annual Shared ...
Cox Communications, UHY Advisors to Present with BlackLine at Annual Shared ...