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Accounting News 07/2014 (Page 2)



City to hire accounting group to review finances
NATCHEZ — City of Natchez leaders put a plan in motion Tuesday to hire an outside accounting group to review the city's finances. Ward 6 Alderman Dan Dillard made the motion — which was ultimately unanimously approved — during Tuesday's Natchez ...

Accounting Innovators Share Life, Business Lessons in New Web Series
In the accounting world, there's certainly no shortage of opportunities to learn about the path to leadership or the “secrets of success.” On any given day, accounting professionals are deluged with offers for webinars, conferences, email newsletters ...

Time to Surrender the Accounting Convergence “Pipedream”: Report
Getting U.S. issuers to fully adopt of International Financial Accounting Standards (IFRS) is a “pipedream” and the new focus should be the limited, but achievable goal, of getting companies to effectively implement already converged standards ...

Minority high school students preview accounting careers
BUFFALO, N.Y. – The University at Buffalo School of Management and the Foundation for Accounting Education of the New York State Society of Certified Public Accountants (NYSSCPA) recently collaborated to introduce minority high school students to ...

House Hearing Considers Cash Accounting for Small Biz
A subcommittee of the House of Representatives' Committee on Small Business held a hearing today to discuss the value of using the cash basis of accounting in small businesses, and whether they should be required to use the accrual basis. Witnesses at ...

Accounting fraud
Gowex's dramatic collapse marks one of the biggest victories for a relatively new breed of company-accounts “detectives”: small, independent research-and-investment outfits that revel in unearthing alleged book-cooking. Having focused largely on China ...

Minority high school students preview accounting careers
The ninth annual Career Opportunities in the Accounting Profession (COAP) program, a collaboration of the School of Management and the Foundation for Accounting Education of the New York State Society of Certified Public Accountants (NYSSCPA), took ...

Accounting & Finance Manager
Vector Windows is seeking an individual to manage the accounting and finance functions for the company. Strong accounting skills are required, along with 5-10 years of accounting work experience. The successful candidate will be a key part of our ...

Gowex Seeks Court Shelter As CEO Faces Accounting Charges
Law360, New York (July 10, 2014, 5:36 PM ET) -- Spanish Wi-Fi hotspot provider Let's Gowex SA sought bankruptcy court protection in Madrid on Thursday after a U.S. hedge fund unearthed an accounting scandal that has reportedly landed former CEO ...

Sandy Hook charitable accounting provides array of lessons
The report by the Connecticut Attorney General and the state Department of Consumer Protection Commissioner on the charitable response to the Sandy Hook Elementary School shootings evoked many emotions in the greater Newtown area. Though the ...

Accounting Principles
My spouse and I earn too much to contribute to a Roth I.R.A. Recently, we learned that it is legal to contribute to a traditional I.R.A. and then convert it into a Roth. My understanding of the Roth is that people who make over a certain income shouldn ...

Gun Laws and Accounting Firms - What's Your Policy?
It's been more than 85 years – back in the days when gangsters Dean O'Banion and Al Capone went to war over Chicago – that accountants have felt compelled to carry firearms for personal protection. Yet the anecdotal evidence is that a rising number of ...

Accounting firm awards scholarships
“We are pleased to recognize two talented students who we hope may be encouraged to consider a future in the accounting profession,” said Frank Rowella, CPA. Since 2010, Reynolds & Rowella, LLP has awarded $15,000 in scholarships to high school ...

Congress Uses Accounting Gimmicks to Fund Highway Bill
Not long ago, the fight on Capitol Hill over financing a new highway bill shaped up as an epic clash between Democrats calling for increased tax revenues and Republicans insisting on spending cuts for people receiving both unemployment insurance and ...

UIC warns of possible data breach; business, accounting students at risk
A website security breach made two College of Business Administration documents from the 2002 spring semester accessible — a roster from a Special Topics in Accounting course and an advising list for all junior and senior accounting majors, according ...

How IT and accounting can play nice
Danny Harris identifies himself as a technologist, but he has worn both the CIO hat and the chief financial officer's green eyeshade. He is currently CIO at the Education Department and previously served as the agency's deputy CFO. So Harris is well ...

Zander wins $8M verdict against accounting firm
A jury has returned a nearly $8 million verdict in favor of Nashville businessman Jeffrey J. Zander, concluding that Indianapolis-based accounting firm Katz Sapper & Miller LLP negligently misrepresented the tax consequences of a sale of nearly half of ...

WWII veteran Leal worked in accounting
He worked in the accounting department of what was then Santa Rosa Hospital for almost a decade, developing policy and training his staff in collection practices. One of his biggest challenges was persuading the nuns, who ran the hospital, to update ...

Accounting 2.0: Leading WV into the oasis
A new accounting system for the state of West Virginia is looking to make life a little easier for a lot of state employees. The system, wvOASIS, is the first such update in decades, streamlining nearly 100 state accounting systems into one. In short ...

EDITORIAL: Halifax Health must deliver full accounting
There must be a full accounting — and accountability. The settlement revealed Friday concluded the second and final phase of a lawsuit brought against Halifax Health by Elin Baklid-Kunz, the hospital's director of physician services. In the first ...

Bad Accounting Leads? Get Ready for the Next Batch
Your accounting leads didn't get you your million dollar goal. You can avoid looking too happy but you should still stay human. Keep connecting with prospects even as the seasonal spark is finally starting to fade. It may as look like business as usual ...

EDITORIAL: Halifax Health must deliver full accounting
There must be a full accounting — and accountability. The settlement revealed Friday concluded the second and final phase of a lawsuit brought against Halifax Health by Elin Baklid-Kunz, the hospital's director of physician services. In the first ...

Universal accounting rules vital to prevent old wounds opening again
The former Dutch finance minister, now chairman of the International Accounting Standards Board — the global body responsible for setting accounting standards — has not only been battling for the past three years to harmonise international standards ...

Private companies practising 'questionable' accounting: AASB
That means they do not have to comply with all the accounting standards that apply to listed companies. The Corporations Act requires large private companies to prepare and lodge general purpose accounts with the Australian Securities and Investments ...

Govt Multiple Bank Accounts a Risk
Speaking to New Era last Thursday he urged ministries only to keep accounts that are necessary. Some ministries have N$600 in some of their bank accounts, the auditor general's office said. Most line ministries hardly provide source documents relating ...

Fun Accounting and the Export-Import Bank
Accounting panic (Image: Accounting panic via ShutterstocThe establishment types in Washington have become really worried in recent weeks because one of their major troughs, the Export-Import Bank, may not be reauthorized by Congress. The Ex-Im ...

Free CPE Webcast to Look at Data Management for Accounting Firms
In the increasingly digital world, accounting firms and other professionals have a mountain of electronic client financial information to keep track of. In addition to concerns about keeping this critical data secure, accounting firms and their clients ...

Hiring Forecast Has Good News for Accountants
Despite the economy's steady, albeit somewhat unhurried, recovery, businesses in accounting, finance, and IT are reporting a significant increase in unfilled staff positions, according to the Brilliant Q3 2014 Hiring Forecast. The forecast, conducted ...

Accounting Giant To Pay $4 Million After Improper Lobbying
The accounting firm of Ernst & Young has agreed to pay $4 million to settle civil charges that it violated federal rules when a subsidiary lobbied Congress on behalf of audit clients. "Ernst & Young engaged in lobbying activities that constituted ...

Wanted: More Accountants
In the quarterly survey of HR professionals in the accounting, finance and IT professions, 65% of respondents said they have vacant accounting, finance and IT staff positions. This number is above the 58% figure in Brilliant's forecast last quarter as ...

New Accounting Standards Will Change How Companies Treat Discontinued ...
New Accounting Standards Will Change How Companies Treat Discontinued ...

Jury finds Andy Brown guilty in murder at Sturgis accounting firm
Jury finds Andy Brown guilty in murder at Sturgis accounting firm. Updated: Monday, July 14, 2014. Jury finds Andy Brown guilty in murder at Sturgis accounting firm story image. KALAMAZOO, Mich. (NEWSCHANNEL 3) - A jury has found Portage accountant ...

Mars Hill Member Wants Accounting of Global Fund Donations
Then in their July 11 newsletter, Mars Hill briefly addressed a petition at Change.org requesting an accounting of the amount of money spent on missions and the amount spent toward expansion of Mars Hill Church in the U.S. In that newsletter, they also ...

NJ Accounting Firm Hit With Suit Over Keyuan Stock Drop
Law360, New York (July 14, 2014, 7:17 PM ET) -- A New Jersey accounting firm is facing a putative class action by Keyuan Petrochemicals Inc. shareholders who claim they suffered losses when Keyuan's stock price tanked upon the revelation of accounting ...

University of Phoenix and Intuit Partnership Provides Students Access to ...
University of Phoenix and Intuit Partnership Provides Students Access to ...

Accounting group recognizes Ohio treasury
COLUMBUS, Ohio (AP) - A national government accounting group is recognizing innovations at the Ohio treasury. Ohio Treasurer Josh Mandel (man-DEHL') planned to accept the nonpartisan Association of Government Accountants' excellence award in ...

Ohio State Auditor: Years of 'innacurate accounting' led to Hamilton Twp ...
Ohio State Auditor: Years of 'innacurate accounting' led to Hamilton Twp ...

Satyam Founder Ordered to Pay Back Alleged Accounting-Fraud Gains
MUMBAI—India's securities regulator on Tuesday ordered the founder and former executives of Satyam Computer Services Ltd. to disgorge more than $300 million in alleged gains from an accounting scandal that came to light in 2009, which undermined ...

The Struggle Is Over! Brian McKnight Settles With Accounting Firm Who ...
The Struggle Is Over! Brian McKnight Settles With Accounting Firm Who ...

Audit critical of MOSI accounting, financial management
The report makes 33 recommendations, including that MOSI reform its accounting practices and expand fundraising efforts. Ostrenko, who announced in April he will retire in December 2015, declined an interview request Tuesday. MOSI spokeswoman ...

Livingston Parish takes strides to fix accounting problems
Livingston Parish resolved two dozen of its 30 audit findings from last year, but officials still need to improve on estimating expenditures, accounting for permit revenue and keeping the parish's priority road list updated, according to the 2013 audit ...

Livingston Parish takes strides to fix accounting problems
Livingston Parish resolved two dozen of its 30 audit findings from last year, but officials still need to improve on estimating expenditures, accounting for permit revenue and keeping the parish's priority road list updated, according to the 2013 audit ...

National accounting group recognizes Ohio treasury
Ohio Treasurer Josh Mandel accepted the nonpartisan Association of Government Accountants' excellence award in Orlando on Tuesday. The 15,000-member professional association provides education, professional development and certification to ...

Satyam Founder Ordered to Pay Back Alleged Accounting-Fraud Gains
MUMBAI—India's securities regulator on Tuesday ordered the founder and former executives of Satyam Computer Services Ltd. to disgorge more than $300 million in alleged gains from an accounting scandal that came to light in 2009, which undermined ...

GoAir selects Accelya's Revenue Accounting Solution to be future-ready
GoAir, one of India's fastest growing airlines, chose Accelya's REVERA® Next to automate its revenue accounting process, build in better audit controls and be future-ready to accommodate any changes in business model. Being a budget carrier, GoAir had ...

'India's Enron': Ex-Satyam Executives Ordered to Pay $308m Over Accounting ...
'India's Enron': Ex-Satyam Executives Ordered to Pay $308m Over Accounting ...

STL NABA presents accounting program for minority students
The primary objective of ACAP is to increase the number of high school students from underrepresented ethnic groups that attend college and major in accounting and finance. Through ACAP's efforts, students receive educational enrichment experiences and ...

Accounting Firm Must Face FDIC Suit Over Colonial Bank Failure
A federal judge said PricewaterhouseCoopers LLP must face the Federal Deposit Insurance Corp.'s $1 billion lawsuit that alleges the accounting firm failed to catch the massive fraud that brought down Colonial Bank, one of the largest bank collapses in ...

Accounting Firm Must Face FDIC Suit Over Colonial Bank Failure
A federal judge said PricewaterhouseCoopers LLP must face the Federal Deposit Insurance Corp.'s $1 billion lawsuit that alleges the accounting firm failed to catch the massive fraud that brought down Colonial Bank, one of the largest bank collapses in ...

GoAir selects Accelya's revenue accounting solution
In order to move to the next level, GoAir was looking at a revenue accounting system that could help it overcome potential challenges in the area of revenue integrity and assurance as the airline accelerates further after reaching its highest ever ...