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Accounting News 08/2014 (Page 4)



Questions Continue Over Quindell Plc (QPP) Accounting
The questions regarding potential slight of hand accounting at Quindell PLC (LON:QPP) (OTCMKTS:QUPPF) continue after the firm posted monster first half earnings but the stock fell over 10 percent, as previously reported in ValueWalk. The reason the ...

Being a Thought Leader Helps Your Accounting Firm Recruit and Retain Staff
These are among the unexpected benefits that accounting firms have found from developing content marketing and thought leadership programs, which were originally aimed at generating leads on new clients and helping cross-sell additional services to ...

Liberty Tax Launches Cloud Bookkeeping Service, Liberty Accounting
Liberty Accounting is simple, fully featured double-entry accounting, designed to strengthen the collaborative relationship between Liberty Tax franchisees and their small business-owning customers. Because the offering is cloud-based, Liberty Tax ...

AccountingSuite Presents Foxhound Release at Midwest Accounting & Finance ...
AccountingSuite Presents Foxhound Release at Midwest Accounting & Finance ...

Accounting firm BerryDunn in a major expansion
Portland-based accounting firm BerryDunn is growing quickly as it adds and expands services such as company valuation, succession planning and government consulting work. The 40-year-old company has hired 24 new employees in the past year, ...

Advanced Placement, Woodbury-Style: In Accounting, 100 Percent of June ...
Advanced Placement, Woodbury-Style: In Accounting, 100 Percent of June ...

Evergreen Completes Implementation of Advantage Systems' Accounting for ...
Evergreen Completes Implementation of Advantage Systems' Accounting for ...

Bramwell's Lunch Beat: Inventory Surfaces as Top Accounting Issue
Inventory accounting has become so complicated that the Financial Accounting Standards Board (FASB) has proposed simplifying procedures. FASB said it has fielded complaints that the process is “unnecessarily complex because there are several potential ...

NMSU announces accounting scholarship
The grant, provided by CliftonLarsonAllen, is known as the CliftonLarsonAllen LLP Diversity in Accounting Scholarship, according to a news release issued by the university. It will be awarded to a student with an accounting major and at least a 3.5 ...

It's All About the Money: Cash or Accrual Accounting?
In accrual accounting, the company typically recognizes revenue when invoices are sent (e.g., product is shipped or a job is completed). Expenses that are directly tied to delivering a product or service are recognized at the same time that the revenue ...

Baldwin hires accounting firm
“I think we want to give the taxpayers' full confidences that when these report are issued, it's clean; we're doing everything that the accounting principles out there require. Right now, that's just not happening,” Councilman Kevin Fischer told his ...

Advice to Bankrupt MF Global Could Cost Accounting Firm $1 Billion
A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd., a brokerage run by former New Jersey ...

New Mexico State University reveals $15K accounting scholarship
The grant, formally called the "CliftonLarsonAllen LLP Diversity in Accounting Scholarship," will be rewarded to a undergraduate or graduate NMSU College of Business accounting major with a cumulative GPA of 3.5 or higher. As the scholarship name ...

Hertz: Accounting Issues 'Least of the Challenges,' Morgan Stanley Says
The company has had a lot on its plate in recent years: expanding into the used car business, implementing new technology, and acquiring and integrating DTG. While there have clearly been challenges, to which the company is openly admitting, we are ...

JM Wilson Promotes Russell to Accounting Supervisor
Portage, Mich.-based property/casualty MGA and surplus lines broker, J.M. Wilson, has promoted Crystal Russell to accounting operations supervisor. Russell is responsible for payment and account reconciliation of company accounts and assisting the ...

AICPA announces 2014 Accounting Scholars Leadership Workshop graduates
“Over the course of two intensive days, the Accounting Scholars Leadership Workshop provided these impressive students with professional skills development and a greater understanding of what a career as a CPA is all about,” said Kim Drumgo, AICPA ...

People Issues Are Major Challenges for Accounting
Many of the biggest concerns for accounting firms in the future relate to people issues, according to Illinois CPA Society president and CEO Todd Shapiro. In his opening keynote for the 34th Annual Midwest Accounting & Finance Show, Shapiro discussed ...

Accounting for the Expanding Carbon Shadow from Coal-Burning Plants
Steven Davis of the University of California, Davis, and Robert Socolow of Princeton (best known for his work dividing the climate challenge into carbon “wedges”) have written “Commitment accounting of CO2 emissions,” a valuable new paper in ...

Tax Prep Chains Make Moves into Accounting
H&R Block and Liberty Tax have been expanding from traditional tax preparation services into other areas such as bookkeeping as they reach out to service small business clients year-round, giving traditional accountants some extra competition. On ...

Two former ACS execs to pay nearly $675000 settlement in SEC accounting probe
Two senior executives of a Dallas-based information technology company that's now part of Xerox Corp. have agreed to pay nearly $675,000 to settle allegations that they mischaracterized transactions to inflate the company's revenue and mislead ...

Good accounting is vital
Great accounting is vital for each and every business, but too many are lacking in this area. Most use standard income statements and balance sheets, but there is much more information business owners need that is not available in these basic financial ...

Communication flaw led to accounting errors in DIA minority contract
An investigation into the largest minority contract awarded by Denver found that communication errors led to a massive accounting gap that threatened to undermine the integrity of the city's disadvantaged-business program. Denver's Office of Economic ...

Ex-Daley Aide's 'Unsophisticated' Accounting Led to $90K Swindle: Attorney
What's more, his attorneys say, Lee's accounting methods are "unsophisticated and quite disorganized," leading to more confusion in his bookkeeping. Lee faces a maximum sentence of 10 years in prison on the theft count and three years on the tax count, ...

30 Years Of Accounting Lessons: Penman, Piotroski, Beneish [Part IV]
Nissim and Penman (2001) argue that the preceding literature on financial statement analysis (e.g. Ou and Penman, 1989; Lev and Thiagarajan, 1993; Abarbanell and Bushee, 1997) is characterized by a lack of structure in the selection of relevant ...

Art of Accounting: Start with the Cash
The next morning we met the controller and accounting staff. I told my assistant that we would start with the balance sheet. I would do the cash and he would do everything else. He was elated that he wasn't “stuck” with the cash and that he would work ...

Hertz (HTZ), Don't It? – Accounting Mistakes and Retracted Guidance Have ...
Hertz (HTZ), Don't It? – Accounting Mistakes and Retracted Guidance Have ...

Kennedy and Coe to combine with California accounting firm
Kennedy and Coe, a national accounting and consulting firm in the food and agriculture industry, plans to combine with California certified public accounting firm Matson and Isom on Jan. 1, 2015, pending final approvals. With a combined 375 people and ...

An accounting is due on wrap accounts
Wrap accounts, through which a portfolio of investments is managed for a bundled fee rather than individual trading commissions and other costs, aren't exactly new. They've been around for a few decades. But make no mistake, the Securities and Exchange ...

TAKING CARE OF BUSINESS: Celebrating 30 years of accounting, family
For many entrepreneurial fathers, the dream of having their children one day take over the family business is one of the driving factors behind the start of the business. Joe Laciak, owner and president of Laciak>cpa, had that dream back in 1983. But ...

Accounting norms applicability may hit power companies' profits
The clarification, pertaining to applicability of accounting standards, comes at a time when many power projects are grappling with multiple woes including acute coal scarcity and delay in getting requisite clearances. At present, many power companies ...