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Tag >> Accounting
Nov 30
2010

Google apps target small business

Posted by dbedell in work flowTechnologysmall businessFinancecomplianceAccounting

dbedell

It may not be as sexy as the latest iPhone or iPad apps, but Google is reaching out to small businesses with a new range of finance and management apps geared specifically at SMEs, and have promised to launch new small company tools each Tuesday.

In its first release, companies can take advantage of accounting and finance app Outright, which provides automated data gathering from various external sources, such as banks and payments service providers, like Paypal.

Nov 22
2010

Surge in restatements, material weaknesses

Posted by Stephen Taub in Section 404Sarbanes-OxleyRiskrestatementsRegulationmaterial weaknessinternal controlsGlass LewiscomplianceAccounting

Stephen Taub

The number of financial reporting issues is on the rise this year, exceeding multi-year lows set last year.

In the first nine months of 2010, about 20 percent more companies filed restatements to correct accounting errors or reported internal-control weaknesses than in the first three quarters of 2009, according to a new study published by Glass Lewis.

Nov 15
2010

Small business in spotlight with accounting change, tax discussion

Posted by dbedell in Tax Policy Centersmall businessMax BaucuscomplianceAccounting1099

dbedell

Small business owners have much to ponder this week as tax cut discussions and a potential repeal of an onerous accounting change passed under the Health Care Reform Act hit the spotlight.

Much dialogue in the media this week has centered on how the Obama administration will address the extension of Bush-era tax cuts to top-tax-bracket taxpayers. Underscored as part of that conversation is the impact the withdrawal of those tax breaks will have on small business.

Oct 22
2010

SEC settles Reg FD charges with Office Depot

Posted by Stephen Taub in Securities and Exchange CommissionsecRegulation FDReg FDOffice DepotAccounting

Stephen Taub

The SEC has settled a rare Reg FD case with Office Depot and two of its executives, including its top finance exec.

The Securities and Exchange Commission also charged Office Depot with unrelated accounting violations.

Oct 12
2010

Another step forward for little GAAP

Posted by dbedell in Risk and Compliancelittle GAAPGAAPfair valuecomplianceAccounting

dbedell

The panel set up to look at establishing new accounting rules for private companies has completed its final public meeting and is one step closer to detailing how such rules should be developed.

The panel, set up at year-end last year by the Financial Accounting foundation (FAF), the American Institute of Certified Public Accountants, and the National Association of State Boards of Accountancy, made two major recommendations coming out of the final public meeting.

Oct 12
2010

Accounting, finance starting pay to rise 3.1 percent

Posted by Stephen Taub in tax services senior managerstax accounting managerssenior tax accountantsSenior financial analystsSenior compliance analystssenior auditorssenior auditorssalaryRobert Halffinancial analysis managersFinancecareerscareer/managementbusiness analysis managersAccounting

Stephen Taub

The unemployment rate may be stubbornly stuck above 9 percent and workers in most professions are afraid to ask for raises and feel like they are doing a lot more for the same pay.

However, this is not the case with accounting and finance professionals. According to Robert Half International's 2011 Salary Guide, starting salaries in these fields are expected to rise an average of 3.1 percent in the coming year. Business analysts, tax accountants and financial analysts are among the professionals projected to see notable increases.

Oct 05
2010

Two accounting firms fined $1.7 million for audit

Posted by Stephen Taub in McGladrey & PullenLLPcomplianceCommodity Futures Trading CommissionCFTCauditAccounting

Stephen Taub

Two accounting firms agreed to pay a total of $1.7 million and a certified public accountant (CPA) agreed to a permanent bar stemming from Commodity Futures Trading Commission charges of failing to audit properly a client that was earlier accused of fraud and misuse of customer funds.

According to the CFTC, McGladrey & Pullen, LLP and Altschuler, Melvoin & Glasser LLP and partner G. Victor Johnson II failed to properly audit Sentinel Management Group, a Northbrook, Ill.-based futures commission merchant that declared Chapter 11 bankruptcy in August 2007. M&P acquired assets relating to AMG's audit practice in 2006.

Sep 23
2010

Ex-Delphi treasurer settles accounting fraud charges

Posted by Stephen Taub in Securities and Exchange Commissioncomplianceaccounting fraudAccounting

Stephen Taub

The former treasurer of Delphi has settled civil accounting fraud charges in the Securities and Exchange Commission's four-year case.

John Blahnik, who served as Treasurer and Vice President of Treasury, Mergers and Acquisitions of the auto parts giant from 1998 to 2005, agreed to pay $100,000 in disgorgement and civil penalties. He also agreed to a five-year bar from serving as an officer or director of a public company.

Sep 20
2010

Companies baulk at proposed accounting changes

Posted by dbedell in RiskMcDonald'sloss disclosureIn complianceHPGoogleGeneral ElectricFordFASBclass action lawsuitsAccounting

dbedell

Companies across the US are signalling that they are not happy with proposed new accounting rules that would require them to disclose potential losses from pending class action lawsuits, and increase disclosure on potential liabilities from products and operations.

As many as 140 big name corporates—including Ford Motor, GE, McDonald’s, Google and HP—signed a response to the proposed accounting changes, saying that they oppose the scheme, according to a report in Monday’s FT.

Sep 02
2010

KB Home cleared of accounting charges

Posted by Stephen Taub in stock optionsSecurities and Exchange CommissionseccompliancebackdatingAccounting

Stephen Taub

Finally some good news for KB Home.

The homebuilder said the Securities and Exchange Commission has concluded its investigation into the company's accounting and disclosures and does not plan to recommend any enforcement action. The letter from the regulator concludes the SEC's investigation, which began in October 2009.

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