Home > Accounting News

Accounting News 10/2014 (Page 4)



NMSU accounting student group wins national best practices competition
The Delta Lambda chapter of Beta Alpha Psi, the honorary accounting organization in New Mexico State UniversityþÄôs College of Business, was awarded first place in the category of Leadership in the prestigious Deloitte Best Practices competition at the ...

UK's Tesco Chief to Resign After Massive Accounting Gaffe
The head of British retail giant Tesco says he will step down following the revelation of a $422 million accounting discrepancy. An interim earnings report released Thursday included the news that chairman Richard Broadbent will leave the company after ...

Tesco chairman resigns after $420 million accounting scandal
The U.K. supermarket chain, the world's second-biggest retailer after Wal-Mart Stores Inc. WMT and one of Warren Buffett's least-successful billion-dollar investments, said Thursday its chairman Sir Richard Broadbent would step down, after an ...

Tesco chairman to step down after history of accounting errors
Tesco TSCO, -5.38% TSCDY, -3.17% said an investigation into the accounting practices showed profit forecast for the first half had been overstated by 263 million pounds ($422.1 million), slightly higher than the £250 million it flagged in September. It ...

Tesco Chairman Resigns After Accounting Scandal
The chairman of Tesco, the world's second-biggest retailer behind Walmart, announced his resignation Thursday amid an accounting scandal in which the company admitted it had overstated its projected profits. Richard Broadbent said he will step down ...

AOL.com Article - Tesco chairman resigns after accounting scandal
LONDON (AP) - The chairman of Tesco, the world's second-biggest retailer behind Walmart, announced his resignation Thursday amid an accounting scandal in which the company admitted it had overstated its projected profits. Richard Broadbent said he ...

KPMG attempts to disrupt UK SME accounting market
Included within KPMG Enterprise is KPMG's new Small Business Accounting service, which combines cutting-edge digital technology with KPMG's wealth of expertise to provide select online accounting and tax services – including accounts preparation, ...

Audit Shows Errors in Albany School District Accounting
The district had been billed more than a million dollars since January 2013 by Betty Webb Consulting, a company hired to help restructure education in the schools. While the audit did not find any evidence of misconduct or intentional over-billing ...

Tesco Chairman Resigns Over $420 Million Accounting Error
The chairman of Britain's largest supermarket chain says he plans to resign amid an investigation over an accounting error that resulted in a massive profits overstatement. Tesco chairman Sir Richard Broadbent said he will leave his post after an audit ...

Tesco accounting black hole deepens, chairman to step down
LONDON (Reuters) - The chairman of Britain's biggest grocery chain, Tesco (TSCO.L), announced his resignation on Thursday after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than ...

Tesco and accounting
But anyone who has studied corporate accounts will realise this is one of two familiar issues; profits are recognised early and/or costs are recognised late. It is easy to see how the problem snowballs. Say the company is struggling to meet a quarterly ...

B.C. official calls for Columbia River Treaty accounting
But as the two countries embark on efforts to revise the 50-year-old treaty, the B.C. government is looking for a better accounting of the benefits Americans get from the vast amounts of water stored north of the border, Bennett said. In addition to ...

E&Y joins wave of KC accounting firms with new leadership
Anderson has 28 years of experience in accounting and handled some of the firms largest accounts in the Kansas City area. He's a 1986 graduate of the University of Missouri-Columbia, where he now leads campus recruiting for Ernst & Young. Anderson ...

UPDATE 5-Tesco accounting black hole deepens, chairman to step down
LONDON, Oct 23 (Reuters) - Britain's largest retailer Tesco reported a bigger than expected hole in its finances on Thursday after finding that accounting transgressions went back further than initially thought, prompting its chairman to quit. Shares ...

Expert perspective
The group of students said that Doty offered valuable guidance about the accounting profession during breakfast. “He truly cared about giving us great advice and answering our questions,” said Hines. “We were really thankful that he took the time out ...

Accounting workshop to be held Wednesday
RACINE — The Wisconsin Women's Business Initiative Corporation will host a business workshop, “Business Basics of Accounting,” from 6 to 8 p.m. Wednesday, Oct. 29, in Suite 102 at 245 Main St. Learn how to create and understand accounts payable, ...

Business briefs: Schlenner Wenner accounting firm promotes 8
Schlenner Wenner & Co. recently announced several promotions. They are: Bev Oerhlein, firm administrator; Ryan Finberg, senior manager; Jon Archer, senior manager; John Marschel, senior accountant; Brian Skluzacek, senior accountant; Ann Becker, ...

Tesco chairman to leave as accounting missteps hit profit
“The task of rejuvenating the company has been made all the more difficult in light of the accounting irregularities,” Neil Saunders, managing director of consumer research company Conlumino, wrote Thursday. Mr. Broadbent's departure “will ultimately ...

Auditors want accounting of all Jackson Co. assets
In a report released this week, Auditor Stacey Pickering's office said the county did not have policies and procedures in place to maintain accurate inventory records. The audit is for the year ending Sept. 30, 2013. The audit found the county's ...

UK accounting watchdog studying Tesco statements
Britain's largest retailer reported a bigger than expected hole in its finances on Thursday after finding that accounting transgressions went back further than initially thought. "The FRC is giving careful consideration to Tesco's announcement of 23 ...

UK accounting watchdog studying Tesco statements
LONDON (Reuters) - Britain's accounting watchdog, the Financial Reporting Council, said it was scrutinizing supermarket Tesco's announcement on accounting irregularities as it decides whether to take enforcement action. Britain's largest retailer ...

College weighs proposals for accounting, Russian courses
Judd said that she did not see the proposed addition of an accounting class as a contradiction to the College's liberal arts mission, pointing out that Bowdoin has taught accounting classes in the past and that most of its peer schools offer similar ...

New student accounting center dedicated to Miller
This semester, Murray State accounting students have their own suite on campus to relax between classes, meet with colleagues and work on homework. The renovation of Business Building South's first floor for the Dr. Tim Miller Center for Accounting ...

Real Madrid vs. Barcelona, 2014 El Clásico preview: Accounting for key absences
With these teams being so evenly matched, Saturday's Clásico might come down to how well each team accounts for its big absence. Can James Rodriguez and Isco make up for the absence of Gareth Bale? Will Barcelona hold up defensively without Sergio ...

Deluxe buys Wausau Financial, accounting software maker, for $90 million
Deluxe Corp. is buying Wausau Financial Systems, a Wisconsin-based developer of accounting software, in a deal worth $90 million. Shoreview-based Deluxe, in a statement, said the deal for Mosinee, Wis.-based Wausau will strengthen its technology ...

Tesco hit with US investor lawsuit over accounting irregularities
Britain's accounting watchdog, the Financial Reporting Council, said on Thursday it was looking into Tesco's announcement of accounting irregularities to determine whether it should take regulatory action. The case is Irving Firemen's Relief and ...

Viteos Awarded Best Shadow-accounting Firm
NEW YORK and LONDON, Oct. 24, 2014 /PRNewswire/ -- Viteos, the leading shadow-accounting firm for hedge fund managers, announced today it has been named as Best Shadow-accounting Firm (a new category) by HFM Week in their annual 2014 US ...

Financial Accounting Foundation Appoints COO
“Mary comes to us with an extensive background in corporate operations and governance, earned in a series of increasingly important leadership roles with major global banking and accounting firms. Her broad experience will be a significant asset to the ...

Lewis named to accounting organization post
WASHINGTON – The American Institute of CPAs (AICPA) has named Troy K. Lewis, CPA, CGMA, chairman of its Tax Executive Committee. Lewis is vice president and chief enterprise risk management officer at Heritage Bank in St. George and is the sole ...

Bober Markey accounting firm makes a significant Cleveland addition
The activity also underscores an “absolute merger frenzy” happening among the top 500 accounting firms, Koltin said. He said most of those are rooted in succession planning as the aging leaders of many firms eye retirement, but the Libman Goldstine ...

Real Madrid vs. Barcelona, 2014 El Clásico preview: Accounting for key absences
Real Madrid vs. Barcelona, 2014 El Clásico preview: Accounting for key absences. www.sbnation.com Published: October 25, 2014. Advertisement. In a continuation of their absurd and hysterical arms race, Real Madrid and Barcelona both bought some of ...

Don R. Smith of Thomas & Thomas (Lifetime Achievement in Accounting)
Smith, a product of DeValls Bluff High School, graduated with an accounting degree from the University of Central Arkansas in 1972 and started his career with Peat Marwick Mitchell & Co., the accounting firm now known as KPMG. Down in Texarkana, the ...

Accounting for Small Business: Staying in the Money
According to some surveys, 25% of businesses don't even maintain accounting records (let alone produce financial statements). The bottom line for small business owners is simple: If you don't make an effort to prepare, review, and completely understand ...

tai_tai uses wind turbine generator for accounting office warehouse
in mobara city of chiba, japan, tai_tai studio has constructed a faceted building of corrugated aluminum. structure intends to function as a warehouse filled with customer documents of an accounting office. as internal lighting and ventilation were ...

Thousands Attend QuickBooks Connect
MOUNTAIN VIEW, Calif., Oct 27, 2014 (BUSINESS WIRE) -- Last week Intuit welcomed more than 4,000 accounting professionals, small businesses, entrepreneurs and developers to San Jose, CA to garner deeper insights through breakout sessions and ...

Accounting society sets tax seminar
The Mahoning Valley Accounting Society is presenting a tax seminar at 6 p.m. Tuesday at A La Cart Catering, 429 Lisbon St. The topic will be tax-free bonds and tax implications for retirement vehicles. The speaker will be Ted Stazak, CPA, financial ...

Bober, Markey, Fedorovich accounting firm makes a significant Cleveland addition
The activity also underscores an “absolute merger frenzy” happening among the top 500 accounting firms, Koltin said. He said most of those are rooted in succession planning as the aging leaders of many firms eye retirement, but the Libman Goldstine ...

Another 'Big Four' accounting firm is leaving Downtown Memphis
KPMG LLP will this November become the third of the nation's "Big Four" accounting firms to leave Downtown Memphis. The Netherlands-based global audit, tax and advisory firm plans to announce Nov. 1 that it has leased 7,000 square feet in Triad Centre ...

Wolters Kluwer CCH Identifies Top Trends Affecting Accounting Firms
Wolters Kluwer CCH Tax and Accounting U.S. president and CEO Teresa Mackintosh discussed the findings of the report on the top five trends affecting accounting firms on Monday during a keynote address at the 10th annual CCH Connections conference in ...

Accounting Principals Lists the Top Jobs Trending Upward
Curious as to what the fastest-growing accounting and finance jobs might be for the next several years? According to the new 2015 Salary Guide from staffing firm Accounting Principals, some of those jobs include bookkeeping clerk, accountant, and ...

Harvard, MIT and $100000 in Free Consulting: How One Accounting Firm Plans ...
Harvard, MIT and $100000 in Free Consulting: How One Accounting Firm Plans ...

MAI Capital launches new division; e2b teknologies to attend accounting show ... - The Plain Dealer
MAI Capital launches new division; e2b teknologies to attend accounting show ...

Will QuickBooks Be Your Accounting Software Next Year?
I just got back from QuickBooks Connect, the first ever Intuit conference for the entire QuickBooks ecosystem, including small business owners, accountants and app developers. I attended the conference because I wanted to assess the relevance of this ...

Art of Accounting: Why We 'Kill' to Get Partnership Returns out Quickly
Nor do we get paid extra if dozens of the limited partners or their accountants call us wanting to know when we will send out the K-1s and, if there is an extension, an estimate of the taxable income. So, I got an idea. Get the work out early (by March ...

Audit: MNsure lacked some accounting controls
Audit: MNsure lacked some accounting controls. Article by: CHRISTOPHER SNOWBECK , Star Tribune; Updated: October 29, 2014 - 12:03 AM. The state's legislative auditor found generally good spending practices but identified lapses in handling of some ...

Former Coca-Cola CFO gifts $1.5 million to University of Alabama accounting ...
Former Coca-Cola CFO gifts $1.5 million to University of Alabama accounting ...

Will QuickBooks Be Your Accounting Software Next Year?
I just got back from QuickBooks Connect, the first ever Intuit conference for the entire QuickBooks ecosystem , including small business owners, accountants and app developers. I attended the conference because I wanted to assess the relevance of this ...

West Orange's Bederson LLP Recognized as "Best Of” Accounting Firm for Third ...
West Orange's Bederson LLP Recognized as "Best Of” Accounting Firm for Third ...

Top 5 Trends Shaping Accounting's Future
What trends will have the biggest impact on accounting firms and their clients over the next five years? How well-prepared are accountants to take advantage of these trends? These two questions were the focus of a new report released on Monday by ...

Lawyer Dodges Disbarment for Accounting Gaffes
The state Supreme Court reprimanded Trenton, N.J., solo David Christoffersen for numerous accounting errors, but also sustained the dismissal of charges that he knowingly misappropriated clients' funds—an offense that is met with automatic disbarment ...