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Accounting News 04/2014 (Page 4)



MYOB Essentials Accounting vs Xero Review – Which is Best for Micro-Business?
Cloud accounting has certainly picked up momentum. Accounting software companies are continually improving and releasing programs in the battle to capture the SME market in cloud accounting. In this review, we compare the entry-level cloud programs ...

That's what in accounting they call a 'write-off'
This consultant pilot fish is taking care of the PC network at a citrus processing plant in Florida -- one where the head accountant considers himself a tech expert. "It was the off season, so only minimal staff were working and plant equipment ...

Accounting firms merge to form Sitzberger Hau & Co.
The combined firm, called Sitzberger Hau & Co., includes 16 certified public accountants and a total staff of about 40 across three offices in Milwaukee, Pewaukee and Brookfield. The firm is based in Brookfield. The firm serves privately held ...

Accounting rules unravel the mysteries of Britain's economy
Anyone who relishes the sound of economists eating their words is in for a treat this September. When the UK adopts the new international standards for national income accounting, three almost universally held “truths” about Britain's economy will ...

RBI comes up with uniform accounting rules for asset reconstruction companies
MUMBAI: The Reserve Bank of India has come up with some uniform accounting rules for asset reconstruction companies or ARCs probably to stop them inflating short term profits. In the wake of deteriorating credit quality, banks have of late started ...

Provincial budget fails to meet accounting standards: Auditor general
EDMONTON — Alberta's auditor general told an all-party legislature committee and senior finance officials Wednesday that the provincial budget fails to meet general accounting standards. Merwan Saher reiterated his concerns that the budget is ...

Kent State University hosts 40th annual Meonske Accounting Conference April ...
Kent State University hosts 40th annual Meonske Accounting Conference April ...

Forensic Accounting ETF Eschews Weak Links
Knowing that, it is no wonder history is littered with examples of companies using aggressive if not dubious accounting tools to beat Wall Street estimates and gain investor favor. For better or worse, history has a tendency to repeat itself in ...

Congrats on your first job. Now start saving, accounting expert says
Gregory Geisler, associate professor of accounting at UMSL, co-wrote the study “Retirement Account Options When Beginning a Career,” which appeared in the Journal of Financial Service Professionals. (Photo by August Jennewein). As commencement ...

Sustainability-The Accounting Perspective
An accounting methodology is needed to assess the relative benefits and costs of the project's financial, social, and environmental considerations. As the American company struggles to define and implement such a methodology, a major Asian corporation ...

Finding jobs for accountants proves a fun career
Early in his career, Sid Kotlus decided to shift from public accounting to the private sector. So he joined a recruiting firm that specialized in placing accountants with private firms, figuring he'd get the inside track on a good job. But he liked ...

10 Best Free Business Accounting Software For Freelancers And Small ...
10 Best Free Business Accounting Software For Freelancers And Small ...

Gemba Academy Introduces Lean Accounting Series
Complementing the Jean Cunningham interviews, this 12-part series is ideal for individuals or organizations beginning, in the midst of, or revamping their lean accounting efforts. Lean accounting plays a monumental role in an organization's lean ...

Strong cloud, weak PCs, and accounting rules give Microsoft a flat 3Q 2014
Microsoft posted its financial results for the third quarter of its 2014 financial year, corresponding to the first quarter of the 2014 calendar year. Revenue was essentially flat, down less than one percent, at $20.4 billion. Operating income was down ...

GOP eyes accounting of Health Connector costs
House Republicans are pushing for a full accounting of how much the state's Obamacare website fiasco will cost taxpayers, suggesting outgoing Gov. Deval Patrick may leave the next administration holding the bag. “The reality is we're going to have a ...

RSP Permian, Inc. Appoints Barry Turcotte as Chief Accounting Officer
DALLAS, April 25, 2014 /PRNewswire/ -- RSP Permian, Inc. (the "Company") announced today that Barry Turcotte joined the Company as Chief Accounting Officer, effective April 21, 2014. In his role at the Company, Mr. Turcotte will be responsible for all ...

Middletown city, school board to share accounting systems
Drew said that running the same software for all city accounting, including the school board, would allow the city to see when and how the district was using funds – and vice versa – and would increase transparency overall and get the board out from ...

AICPA Opposes Congressional Effort to Limit Use of Cash Method of Accounting
The American Institute of CPAs has written to the head of the tax-writing House Ways and Means Committee voicing strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal ...

People's in Oregon Revises Earnings Upward Due to Accounting Error
People's in Oregon Revises Earnings Upward Due to Accounting Error. by Sarah Todd. APR 25, 2014 1:31pm ET. People's Bank of Commerce (PBCO) in Medford, Ore., has restated its full-year 2013 and first-quarter earnings to reflect higher profits after ...

James Franco's Former Accounting Firm Sued
Actor James Franco's accounting firm is embroiled in a lawsuit over accusations that his former talent manager illegally diverted money from the actor's commissions to fuel a gambling habit. James Franco. The lawsuit claims that Franco's former talent ...

Introducing Acclux Accounting: The New Cloud Accounting and Project ...
Introducing Acclux Accounting: The New Cloud Accounting and Project ...

Accounting Firm Plans Move Into Stamford Square
O'Connor Davies LLP, a regional certified public accounting and consulting firm, has chosen 3001 Stamford Square for its new Stamford office location, announced the Ashforth Co. The building is developed, owned and managed by Ashforth. Moving about ...

Prosecutors raid offices of accounting firm that worked for ferry operator
The accounting firm is known to have worked very closely not only with the ferry operator but also with its affiliated firms that are practically controlled by Yoo Byung-eon -- whose two sons are the biggest shareholders of the ferry operator's holding ...

Art of Accounting: Working for a Putz
Early on in my career, I was assigned to work with a manager on a half dozen monthly clients. He went with me and worked on the main company while I worked alongside him on the baby company. The baby company was much smaller and usually was for a ...

Poor accounting wastes ammo used by military, report claims
The effect of inaccurate accounting of ammunition for troops at war was outside the scope of the study. However, there were limited supplies at times of .50-caliber machine gun and 9 mm handgun ammunition at the height of the wars in Iraq and ...

No Accounting Skills? No Moral Reckoning
SOMETIMES it seems as if our lives are dominated by financial crises and failed reforms. But how much do Americans even understand about finance? Few of us can do basic accounting and fewer still know what a balance sheet is. If we are going to get to ...

In Brief: Behrend offers new master's in accounting
The master's program will prepare students for the financial and legal complexities of public accounting work. Graduate faculty members from the Sam and Irene Black School of Business will teach the courses, which will include study of business tax ...

5 CLOUD ACCOUNTING, MARKETING VISIONARIES TO PRESENT ...
5 CLOUD ACCOUNTING, MARKETING VISIONARIES TO PRESENT ...

Buildium Announces Accounting and Reporting Enhancements and Improved ...
Buildium Announces Accounting and Reporting Enhancements and Improved ...

No Changes Made On Serious Accounting Flaws in Govt Offices
the official records of nine government organizations were flawed due to uncollected revenue, unaccounted for expenditure, exaggerated procurement and failure of utilization of allocated budget. According to the latest report presented to the House on ...

Bank of America to Suspend Dividend Hike Due to Accounting Error
NEW YORK (TheStreet) -- Bank of America (BAC) said Monday it miscalculated its disclosed capital ratios and will suspend a planned dividend raise and share buyback it announced in late March. The giant bank attributed the error to "an incorrect ...

YOUSHOJI, Ltd. Japan: A Business Method of Accounting under Standard ...
YOUSHOJI, Ltd. Japan: A Business Method of Accounting under Standard ...

How to Implement Content Marketing in Your Accounting Firm
Everyone's talking about it and most accounting firm owners have a sense they should be doing it, but what exactly is content marketing? In a nutshell, it's a marketing paradigm that opts for providing something of value as a method of showing ...

Accounting Firm Marks Paneth Appoints Partner-in-Charge of New Commercial ...
Accounting Firm Marks Paneth Appoints Partner-in-Charge of New Commercial ...

BofA Buyback, Dividend Hike On Hold After Accounting Error Draws Fed's Ire
The Fed is requiring BofA to resubmit its capital plan, after the bank announced an accounting error that led it to overstate its regulatory capital levels and ratios. The error, tied to the treatment of structured notes the bank acquired when it ...

Bramwell's Lunch Beat: A History Lesson on Double-Entry Accounting
“A population well-versed in double-entry accounting will not immediately solve our complex financial problems, but it would allow average citizens to understand the nuts and bolts of finance: balance sheets, mortgage interest, depreciation, and long ...

AICPA Urges Congress Not To Limit Cash Accounting
In a letter to House Ways and Means Committee Chairman Dave Camp, the American Institute of CPAs (AICPA) has voiced strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal ...

Bank of America Lost $2.7 Billion in a Maze of Accounting
Last month, Citigroup failed the Fed's stress test because, even though it would meet minimum capital requirements in a severely adverse scenario, the Fed wasn't comfortable with Citi's capital planning process. Meanwhile, Bank of America passed the ...

Explaining the BofA Error: Debt Accounting Rule Bites Again
The issue goes back to the 2007 accounting rule that granted banks a “fair value option” – the opportunity to value some of their debt at market value, or the best approximation of it, instead of at their original cost. Banks had pushed for the rule ...

Bank Accounting Exec in SC Commits Suicide Amid FBI Probe: Report
Bank Accounting Exec in S.C. Commits Suicide Amid FBI Probe: Report. by Chris Cumming and Andy Peters. APR 28, 2014 2:26pm ET. Linda Cox, a former comptroller of First South Bank in Spartanburg, S.C., committed suicide after being questioned by the ...

Accounting Exec in SC Commits Suicide Amid FBI Probe: Report
Accounting Exec in S.C. Commits Suicide Amid FBI Probe: Report. by Chris Cumming and Andy Peters. APR 28, 2014 2:26pm ET. Linda Cox, a former comptroller of First South Bank in Spartanburg, S.C., committed suicide after being questioned by the ...

When Accounting Standards Diverge
The roundtable focused on the pros and cons of having different accounting standards for private companies from those for public companies and included a discussion of recent private company reporting initiatives by the Financial Accounting Standards ...

US SEC has accounting probes in the works, White says
But throughout her tenure so far, the former federal prosecutor has been working to refocus the SEC Enforcement Division's back onto accounting issues - an area that has featured less prominently on the SEC's docket of cases over the past few years as ...

Bank of America's Bad Accounting
That accounting rule, which has been around since 2007, has vexed investors in financial institutions ever since it began to be applied. The banks greatly enjoyed it at first because it had the seemingly perverse result of increasing their reported ...

Bank of America delays stock dividend hike after accounting error
That red in the Bank of America logo should match nicely the color in the cheeks of its embarrassed CEO, Brian Moynihan. The banking giant was forced Monday to again delay beefing up its stock dividend after it discovered a $30 billion accounting error ...

Accounting Class Action Deals Up In 2013, But Value Down
Law360, Los Angeles (April 29, 2014, 12:59 AM ET) -- The number of accounting class action settlements increased for the second straight year in 2013, but remained relatively low compared to the previous decade, according to a Cornerstone Research ...

Total Market Capitalization Losses in Accounting Class Action Filings Increase ...
Total Market Capitalization Losses in Accounting Class Action Filings Increase ...

Morning Scan: Who's to Blame for B of A's Accounting Blunder?
Bank of America's Big Blunder: The papers are abuzz with the question of who — or what — is to blame for the big accounting error that caused Bank of America to misreport its capital levels under the Federal Reserve's stress test. Perhaps the bank's ...

Accounting Class-Action Settlements Rose for Second Year
The number of accounting class-action settlements increased for the second straight year in 2013, but remained relatively low compared to the previous decade, according to a new study. Elaine Harwood. The report, from Cornerstone Research, found that ...

The Disability Accounting Practice II
It doesn't have the glamor of Hollywood stars for clients, nor the rapid-growth cache of accounting for the new marijuana trade. But if your accounting firm is looking to build a national reputation and a loyal client base that is largely ignored by ...