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Accounting News 02/2014



CPA opens new accounting firm in Canton
Joshua Richardson, CPA, P.C., a new accounting firm in Canton, has opened just in time for tax season. Owner Joshua Richardson officially opened his Canton office at the first of the year. His main office is in Peoria, and he previously worked for ...

PNC accounting students offer free tax service
WESTVILLE | Students from Purdue University North Central tax and accounting classes are again offering free assistance to the public in preparing federal and state income tax returns. This program is designed to provide basic income tax return ...

Financial Accounting Foundation Names CPA As Chair of Advisory Council
The Financial Accounting Foundation has announced that Steven E. Buller, CPA, managing director and former chief financial officer of BlackRock, Inc., has been appointed chairman of the group's Advisory Council (FASAC). His term begins on February 1, ...

Asciano profit hit by new accounting rules
The fall in earnings, which was flagged by the company in its 2013 annual results in August, come after the Australian Accounting Standards Board released a revised standard on accounting for employee benefits in 2011. The changes, which take effect ...

Accounting for Crude Oil Sales and Revenues, By Ifeanyi Uddin
Why does it matter that the governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has indicated accounting sleights of hand at the Nigerian National Petroleum Corporation (NNPC)? Or that shenanigans in and around Nigeria's proverbial ...

Accounting firm expands, makes room for chickens
The store also houses two employees, who tend to the store's customers while providing accounting services for about 30 small businesses. Another part-time employee helps with heavy lifting, and Snowflake, a white Sultan chicken, lives in the store, ...

Accounting for Success
Accounting for Success. Brenau U., a women's college in Georgia, is running million-dollar surpluses. Here's how. Accounting for Success 3. John Amis for The Chronicle. President Ed Schrader (left) and David Barnett, chief financial officer, took a ...

The best-paying accounting jobs in Canada
Hard-working, well-compensated and individualistic in their approach to work/life balance. That's the overall picture a professional compensation study paints of Canadian accountants. The 2013 survey, which polled more than 20,000 members of Chartered ...

Indian accounting body launched in UgandaPublish Date: Feb 03, 2014
It's a branch of India's professional accounting body known as the Institute of Chartered Accountants of India (ICAI). Speaking at the launch, the Chairman of Indian Association of Uganda, Rajesh Chaplot said the institute is to uphold chartered ...

KMG Names Marcelino Rodriguez Corporate Controller and Chief Accounting ...
KMG Names Marcelino Rodriguez Corporate Controller and Chief Accounting ...

MD&A: Don't Forget Material Trends And Uncertainties
In an October 2013 disclosure and accounting fraud case involving the MD&A, the U.S. District Court for the Southern District of Florida ruled in favor of the SEC at the summary judgment stage. The court held, among other things, that undisclosed ...

DSU accounting students provide free tax preparation
ST. GEORGE – Students in Dixie State University's four-year accounting program, in association with the Internal Revenue Service's Volunteer Income Tax Assistance program, will again provide free personal tax assistance to the community during the 2014 ...

Two Alabama accounting firms merge
Two Tuscaloosa-based accounting and business advisory firms, JamisonMoneyFarmer PC and Jessup Ingram Burns & Associates LLP, have recently merged their operations. The combined accounting firm will operate under the JamisonMoneyFarmer PC ...

How to Make More Money in Public Accounting
My narrow perspective and experience of the accounting world was telling me there were very few opportunities to enhance the value of the service I could provide my clients. It ultimately pushed me away from the industry and into a Masters in ...

HP Finds Accounting Errors at Autonomy Unit
H-P said it found similar accounting improprieties in 2011 as it did in 2010. But the company didn't detail those discrepancies since Autonomy hadn't filed its financials for 2011 as the deal was closing. Autonomy had previously filed financial ...

/Attn business owners!! Kramer & Associates, LLC specializes in business ...
/Attn business owners!! Kramer & Associates, LLC specializes in business ...

Wiley & CollegeFrog Partner to Increase Internships for Accounting Students
Educational publisher John Wiley & Sons and accounting job finding website CollegeFrog have announced a partnership to increase the internship opportunities available to U.S. accounting students. Wiley is best-known as a provider of CPE education and ...

SEC Revs Up Accounting and Financial Fraud Enforcement
The Securities and Exchange Commission has increased its enforcement efforts against lapses in accounting and financial reporting, while cracking down ever more on financial fraud, according to a new report. The report, from the law firm Morrison ...

Judge's Ruling On Accounting Firms In China Touches on Hong Kong Units
A judge's ruling against the Chinese affiliates of the Big Four accounting firms over their refusal to cooperate with U.S. regulators has drawn attention to a practice of some auditors' Hong Kong units. Last month's ruling suspended the Chinese ...

Judge's Ruling On Accounting Firms In China Touches on Hong Kong Units
A judge's ruling against the Chinese affiliates of the Big Four accounting firms over their refusal to cooperate with U.S. regulators has drawn attention to a practice of some auditors' Hong Kong units. Last month's ruling suspended the Chinese ...

Newport News Shipbuilding among businesses facing Dominion Virginia Power ...
Newport News Shipbuilding among businesses facing Dominion Virginia Power ...

Citing poor performance, Granby Select Board terminates accounting contract ...
Citing poor performance, Granby Select Board terminates accounting contract ...

HP reveals 'extensive errors' in Autonomy accounting
The review of Autonomy's 2010 and 2011 financial documents, performed by Ernst & Young and filed with British regulators, shows for the first time the scope of the software company's accounting tricks. For example, one division of Autonomy overstated ...

Hewlett-Packard Discloses Accounting Errors at Company It Bought
Hewlett-Packard has disclosed to the authorities that it found what it said were serious accounting errors at Autonomy, the British software maker it acquired in 2011, leading to a number of major revisions in the acquired company's financial report ...

Analyst says iPad tops other tablets in Q4, accounting for a third of all ...
Analyst says iPad tops other tablets in Q4, accounting for a third of all ...

Dayton accounting firm opens Northern Kentucky office
Dayton's largest accounting firm is expanding outside of Ohio. Clark Schaefer Hackett, which has two Dayton-area offices at Austin Landing and in Springfield, opened its first office outside of Ohio in Fort Mitchell, Ky., on Feb. 1. The new Northern ...

Forensic Accounting, Enron, Worldcom And How You Can Prevent Investing In ...
Forensic Accounting, Enron, Worldcom And How You Can Prevent Investing In ...

A new magazine for Canada's changing accounting profession
TORONTO, Feb. 5, 2014 /CNW/ - The release of the inaugural edition of CPA Magazine, the flagship publication for the Chartered Professional Accountants of Canada (CPA Canada), signals the arrival of a new era. "CPA Magazine proudly brings together the ...

Accounting giant adds new firm to its fold
Accounting giant adds new firm to its fold. Brandy Brubaker February 5, 2014 1. One of Richmond's largest accounting companies has absorbed a smaller local firm in Innsbrook. Cherry Bekaert recently took on Walker Chaney in a deal that adds a team of ...

Cash Method of Accounting on Verge of Extinction
The cash method of accounting likely is nearing an end for top producers, making way for the accrual method, The Farm CPA Paul Neiffer says. "I think if Congress is serious and the president is serious about getting the top corporate tax rate—and ...

Hoogervorst Expects to Minimize Costs of Changes in Lease Accounting ...
Hoogervorst Expects to Minimize Costs of Changes in Lease Accounting ...

How the lease accounting proposal may change
Acknowledging that the converged leases project poses difficulties for standard setters, International Accounting Standards Board (IASB) Chairman Hans Hoogervorst described some possible solutions Wednesday during a speech in Tokyo. The IASB and ...

NU, State Auditor Mike Foley disagree over accounting safeguards
Audit manager Mark Avery wrote in a management letter issued Wednesday that NU has a “significant deficiency” when it comes to segregation of duties in its accounting system, a finding that's been noted in past audits. The accounting system doesn't ...

6 Signs It's Time to Find a New Accounting Firm (Op-Ed)
An accounting firm is one of your company's most important vendors. The firm's ability to reduce your tax burden allows you to reinvest in your company's growth, so you must find the right firm to help you achieve that goal. Size is critical, and as ...

LBBW Managers Tried on Subprime Securities Accounting Charges
Seven serving or former management board members and two external auditors from PricewaterhouseCoopers LLP face charges that subprime risks were hidden from the lender's 2005 and 2006 accounts. The Stuttgart-based bank invested in asset-backed ...

Tech Data: UK accounting errors cost us $27m
Tech Data (TD) has turned to "external experts" to beef up fraud detection measures after it emerged that righting accounting wrongs at its UK sub had wiped $27m (£16.55m) off net profits for the last three years. The restatement equates to three per ...

Two accounting firms will soon join forces
Doug Hall, managing partner of Hall and Holden PC in Waitsfield, along with partners Michele Eid and Bob Holden, are announcing their affiliation with Associates in Accounting PLC and manager Craig Isvak of Duxbury and Essex Junction. In the near ...

Gallina acquires Washington accounting firm
The firm had been purely a construction-industry accounting practice, which fits in with Gallina, which historically has been construction-oriented. After expansion into other fields, Gallina is now about 60 percent construction focused, said Ashley ...

Sqrl Is a 'Digital Hunter-Gatherer' for Accounting Firms
In January 2013, the three co-founders of Columbus, Ohio-based online accounting firm Upsourced Accounting faced a challenge that is not unique among many small business owners: how to be more efficient. Launched by Ryan Watson, Ryan Baker, and ...

UW-Madison School of Business gets $1.1M from accounting firm
Ernst & Young LLP has pledged to give $1.1 million to the Wisconsin School of Business, including $850,000 for the Global Mindset Leaders program and the remaining funds going to other accounting programs. "We are confident the (Global Mindset ...

Accounting firms are hiring in Charlotte
We recently surveyed the Charlotte-area's accounting firms for our Top 25 list, and several firms are looking to add to their teams in 2014. Amy Shapiro: Research Director- Charlotte Business Journal: Email | Twitter | Google+ | LinkedIn. We recently ...

NJSCPA Releases Accounting Compensation Study
The New Jersey Society of CPAs has released the 2013/14 NJSCPA Compensation & Benefits Study of Public Accounting Firms in New Jersey to help accounting firms determine compensation for their employees. Along with salary figures, the study also ...

Cincinnati's largest local accounting firm expands to N. Ky.
Cincinnati's largest locally based accounting firm has made its first foray across the Ohio River into Kentucky. Clark Schaefer Hackett has opened an office at the Chamber Center on Buttermilk Pike in Fort Mitchell. Seven of Clark Schaefer Hackett's ...

Sarasota accounting firm opens office in Tampa
The firm, the eighth-largest certified public accounting firm on Florida's West Coast, has been working with physician groups in the Tampa area, but wanted to reach other businesses and individuals, managing shareholder Rob Lane said Thursday. "Our ...

Double Take 'Toons: Unfair Accounting?
Depending on your point of view, the latest Congressional Budget Office report provides evidence that the Affordable Care Act is either a "job-killer" or frees millions of Americans from "job-lock." Gary Varvel thinks it's a killer and drives his point ...

Accounting & Auditing Issues for Tribes
A recent Indian Country Today Media Network column addressed issues facing tribes related to accounting, financial reporting and auditing. The piece states that information contained in the financial statements of Tribes “...for all practical purposes ...

Deloitte tops list of Charlotte's largest accounting firms
This week's Charlotte Business Journal lists the area's largest accounting firms, ranked by number of local professional staff. Deloitte tops the list, with 569 professionals in its local office. The firm ranks second in the number of local licensed ...

Bramwell's Lunch Beat: Accounting Jobs Cut by 25000 in January?!
A band of eleven leading Republican lawmakers, including House Speaker John Boehner (OH) and Senate Minority Leader Mitch McConnell (KY), are urging new IRS Commissioner John Koskinen to withdraw new proposed rules governing tax-exempt ...

Small Business Accountants See Improving Economy
Small and midsize accounting practices indicated that fewer of their small business clients are burdened by economic uncertainty, perhaps suggesting a more favorable economic climate and signaling future growth in this sector, according to a new quick ...

Top of the List: Certified Public Accounting Firms
Greg Sevier, Peterson Peterson & Goss LC, says CPA firms sometimes struggle to find employees because they have to compete not only against other firms, but also against in-house accounting departments. Stephanie Bloyd: Research Director- Wichita ...