Home > Accounting News

Accounting News 10/2014



Tesco to be investigated by FCA over accounting scandal
Last week, Tesco stunned investors by announcing that a whistleblower had alerted its most senior lawyer to over-optimistic accounting for payments from suppliers and business costs. The group admitted it had overstated its expected first-half profits ...

UK's Financial Conduct Authority, Or FCA, Launches Investigation Into Tesco's ...
UK's Financial Conduct Authority, Or FCA, Launches Investigation Into Tesco's ...

British financial watchdog to investigate Tesco accounting scandal
That was the stock's lowest level since 2003, with the price down 21 percent since the accounting mistake was disclosed. "Tesco will continue to co-operate fully with the FCA and other relevant authorities considering this matter," the company said in ...

How Both Sides of the Aisle Have Been Hypocritical on Government Accounting
During the Social Security debates of the late 1990s and early 2000s, some conservatives argued that investing the trust fund (or letting individuals invest their payroll taxes) in stocks would generate a “free lunch” — much greater retirement savings ...

Frost Acquires Phoenix Accounting Firm
Frost PLLC, the accounting firm with offices in Little Rock, Fayetteville and Raleigh, North Carolina, announced Wednesday that it had acquired Thomson & Co. of Phoenix. “As a combined entity, we will expand our experience, knowledge base and resources ...

Canadian Accounting Organizations Unite
More than 190,000 accountants are now represented by a single national body, the Chartered Professional Accountants of Canada, also known as CPA Canada. CPA Canada was established last year by the Canadian Institute of Chartered Accountants ...

Accountants Welcome New PCAOB Name Plan, but Some Investors Grumble
The new idea would disclose for the first time the names of the audit-firm “engagement partners” in charge of each public company's audit, to better inform investors and help make auditors more accountable. But under the proposal this week from James ...

Final accounting of A's injuries
Had the A's advanced past Tuesday's American League wild-card game against the Royals, injuries would have claimed two more players. Catcher Geovany Soto (thumb) and center fielder Coco Crisp (hamstring) could not have played in the Division Series, ...

Men vs. women - the accounting conundrum
On why there are so few women in accounting at the partner level compared to entry-level positions, Hartogs said, "I think accounting firms don't understand how you can be flexible with women and how we need to embrace the future and we need to embrace ...

Starting Salaries in Accounting and Finance Expected to Rise Next Year
Average starting salaries for accounting and finance professionals in the United States are forecast to rise 3.5 percent next year, according to the staffing company Robert Half. Staff accountants, senior financial analysts and business systems ...

Top 100 Extra: Advice for Young Accountants
As part of our Top 100 Most Influential People in Accounting report, we asked the candidates: "What one piece of advice would you give young people entering the profession?" Their answers are given in full below. One piece of advice I give to McGladrey ...

Crain's Chicago Business Ranks ORBA Among Chicago's Largest Accounting ...
Crain's Chicago Business Ranks ORBA Among Chicago's Largest Accounting ...

The Great American Accounting Opportunity
Those seeking new, advancement-promising career opportunities within the accounting profession have long overlooked small firms. Core to this trend is a profoundly misunderstood small-firm market and the universally accepted premise that the Big Four ...

AICPA Provides Guidance on Liquidation Basis of Accounting in Employee ...
AICPA Provides Guidance on Liquidation Basis of Accounting in Employee ...

10 Issues That Are Keeping Accountants Up at Night
In an era of disruption, it's hardly surprising that accountants should find themselves overwhelmed by the many changes sweeping over their profession. With so much going on in so many different areas, it can be hard to figure out where to focus, and ...

Zhou Appointed Assistant Professor of Accounting at Clarkson University
Linying She received her bachelor of science degree in statistics from the University of Science and Technology of China, her master of science degree in accounting from Northwest University, China, and her Ph.D. in accounting from the University of ...

Lawyer adds another layer to ongoing Freed & Weiss dispute; Sues accounting ...
Lawyer adds another layer to ongoing Freed & Weiss dispute; Sues accounting ...

Dolan among best for accounting
The business connection site LinkedIn has named Fairfield University's Charles F. Dolan School of Business among the country's best schools for landing accounting jobs. Dolan place No. 7 of 25 institutions. The ranking is part of a new LinkedIn option ...

The 25 Best Colleges To Attend If You Want To Be An Accountant
If you've always been good at math and like working with numbers, you might have a future in accounting. But your raw talent alone won't necessarily land you a job. It's important that you also get a good education from the right college. To help ...

Art of Accounting: I Lost a Client to an Accounting Firm with Cheaper Fees
Sometimes prices charged are subject to the perception of the client and not reality. Fees are always related to the value provided, although that isn't always evident. An example is a meeting I had with an attorney who had been referring a lot of ...

Cascade Township accounting firm expands into Greenville
CASCADE TOWNSHIP, MI -- Hungerford Nichols CPAs + Advisors is expanding its operation with the addition of two Greenville accounting practices. Dean Jensen CPA, PC and Christine W. Kohn, PLLC, along with their staffs, have joined Hungerford Nichols ...

Accounting Starting Salaries Projected to Rise 3.5% in 2015
For the industry as a whole, starting salaries for accounting and finance positions in the United States are expected to increase by 3.5 percent in 2015, with strong demand for such professionals as staff accountants, senior financial analysts, and ...

State auditor questions health district's accounting procedures
... the Snohomish Health district, which outlined a plan to correct the problems identified by the auditor's office. The health district said it agreed with the auditor's office statements about problems in internal controls over its accounting and ...

Finance Study Aimed to Help Pa. Departments
The study is being conducted by Turnbull, Hoover & Kahl of Cumberland, a certified public accounting firm. The request for bids outlined the requirements of the study "to be performed of the 26 volunteer fire and emergency medical services departments ...

Port Angeles Downtown Association leader agrees accounting was sloppy, vows ...
Port Angeles Downtown Association leader agrees accounting was sloppy, vows ...

Sioux City accounting firm turns 100 years old
In 1914, he moved to Sioux City to set up an accounting practice, where he was soon flooded with local clients wanting advise on filing their tax forms. Guthrie's firm gave rise to today's King, Reinsch, Prosser & Co. LLP, or KRP. The Sioux City-based ...

Naperville accounting firm names new principal
Specializing in corporate tax, audit, review, accounting and employee benefit plans, Mulligan has 15 years of experience in public accounting. He has additional expertise as a certified fraud examiner and in the development of accounting procedures to ...

Tesco moves to bolster board in wake of accounting scandal
Tesco has moved to bolster its board in the wake of its accounting scandal and address a lack of retail experience among its directors by parachuting in two corporate heavyweights. Richard Cousins, a turnround specialist who runs catering group Compass ...

Tesco names two new directors amid accounting probe
LONDON (MarketWatch) -- Supermarket chain Tesco PLC TSCO, +2.23% appointed two new non-executive directors Monday, bolstering its board amid official investigations into a significant accounting error. Richard Cousins, chief executive officer of ...

Part-time accounting help needed
Part-time accounting help needed – data entry, AP/AR, scanning. Flexible hours between 8:30 a.m.- 5 p.m., either T/TH or M/W/F, 20 hours/week. No weekends. Prefer Accounting majors. $8-9/hour. Send resume and class schedule to ...

VP for Accounting Operations
BTQ Financial is a dynamic and unique mission- driven company providing finance and accounting outsourced services to the nonprofit sector. BTQ is committed to providing the nonprofit sector with a high quality and cost effective solution to managing ...

5 Kick-Butt Alternatives to Wave Accounting
Wave Accounting has been around for years, and many business have been using it, to varying degrees of satisfaction. In fact, user reviews and ratings of Wave Accounting here at GetApp are mixed. Certainly, this free accounting tool is not without its ...

LinkedIn ranks their top 25 accounting schools
As the crisp autumn air signals the start of a new school year, thousands of accounting students nationwide will begin or continue their education at their respected schools. In light of this, LinkedIn has ranked their top 25 accounting schools, based ...

Hiring an accounting firm can save your construction company money. Here's ...
Hiring an accounting firm can save your construction company money. Here's ...

Birmingham forensic accounting firm expanding into healthcare fraud investigation - Press-Register
Forensic Strategic Solutions recently hired two new analysts to focus on healthcare. Robert D. Church Jr. will lead the unit. "The new healthcare law has brought in flanks of new rules and regulations related to fraud and abuse," Church said. "In chaos ...

Starting Pay In Accounting And Finance Is On The Rise
The average starting salaries for accounting and finance professionals in the US are expected to rise 3.5% next year, according to the staffing company Robert Half. Salaries are expected to increase because staff accountants, senior financial analysts ...

REB Officials in Parliamemnt Over Anomalies in Accounting Records
Officials from Rwanda Education Board (Reb) are today expected before Parliament's Public Accounts Committee (PAC) to explain the anomalies in bookkeeping highlighted in the 2012/13 Auditor General's report. PAC is today expected to commence its ...

The UK Supermarket Sector Is In Free Fall Right Now
Arguably, the rout at Tesco — which includes the possible coming resignation of its chairman — is the good news: The biggest supermarket in Europe, under new CEO Dave Lewis, appears to be moving the fastest to gets its dodgy accounting problems ...

Brilliant™ Study Indicates Strong Demand for Accounting, Finance and ...
Brilliant™ Study Indicates Strong Demand for Accounting, Finance and ...

Accounting Today names Pleasanton CEO among 100 'Most Influential'
A strong supporter of Adobe and Apple systems for accounting starting in the 1980s, Sleeter developed desktop publishing solutions on the Macintosh. Since then, he has built his own business, the Sleeter Group, into a world leader in consulting ...

Bob Woodward To Deliver Keynote At KPMG Accounting & Financial Reporting ...
Bob Woodward To Deliver Keynote At KPMG Accounting & Financial Reporting ...

Study: Strong Demand for Accounting, Finance and IT Pros for Q4
The Brilliant Q4 2014 accounting, finance and IT Hiring Forecast reported open positions and robust plans for increased hiring of accounting, finance and IT professionals in Q4 2014, both permanent and temporary. The survey was conducted by Brilliant, ...

Foley calls for better accounting from Nebraska Crime Commission
Millions of federal dollars targeted for local crime fighting efforts in Nebraska are on hold. The U.S. Justice Department wants a better accounting from the Nebraska Crime Commission on how previous money has been spent at the local level. Auditor ...

Accounting Profession Looks to Provide Relief to Small Business
The accounting rules in the Framework are not Generally Accepted Accounting Principles (or U.S. GAAP), but they were developed after a rigorous process and are comprehensive. Thus financial statements prepared in accordance with the Framework are ...

Local resident receives major accounting scholarship for 2014-15
A 2014 graduate of Roosevelt's Bachelor of Science in Accounting program and a graduate assistant in the Heller College, Cotto is the first Roosevelt student ever to receive the prestigious $10,000 PCAOB scholarship, and is one of 102 accounting ...

Analyst Predicted A Year Ago That Tesco's Dodgy Accounting Would Hurt It
Cantor Fitzgerald analyst Mike Dennis appears to have identified Tesco's accounting weakness back in October 2013. The UK's biggest supermarket and the second-largest retailer globally revealed it overstated its profits by £250 million ($402 million ...

PDL BioPharma (PDLI) Names PwC as New, Independent Accounting Firm
PDL BioPharma (Nasdaq: PDLI) announced the appointment of PricewaterhouseCoopers LLP ("PwC") as its independent registered public accounting firm. PwC will commence work immediately, beginning with their review of our financial results for the three ...

University of Virginia Health System Selects Strata Decision For Cost Accounting
UVA Health System will add cost accounting to their current deployment of StrataJazz modules which the organization uses for financial planning and forecasting. Adding cost accounting and decision support to the StrataJazz platform will enable UVA ...

ICAI working on changes to Indian Accounting Standards
The government wants companies to adopt the new Indian Accounting Standards (Ind AS) - converged with IFRS - voluntarily start from the 2015-16 fiscal and it would be mandatory from 2016-17. The council of the Institute of Chartered Accountants of ...

Copperfield Research Hints At GoPro Inc (GPRO) Accounting Issues
Copperfield Research Hints At GoPro Inc (GPRO) Accounting Issues. by Mark Melin October 08, 2014, 11:29 am. The retail investors favorite is in the cross-hairs of short selling research specialist as analyst teases upcoming work. Like a cheetah spying ...