Community News news September 2006

Community News

Accounting Firm Helps Government Contractors Perfect Their Business

Aronson & Company (A&C), a nationally ranked top 50 accounting and consulting firm, on Tuesday announced a new initiative designed to provide government contractors with comprehensive and cohesive business services to encompass all of their needs and help them perfect the nature of their business.Advertisement
Tax

Updated: As Ebbers Enters Prison, Some Question the Justice of the Sentence

Bernard J. Ebbers, 65, entered federal prison Tuesday to start his 25-year sentence for his part in the $11 billion accounting fraud at WorldCom Inc. that led to bankruptcy for the company he founded and financial pain for investors.On the same day that Ebbers drove his Mercedes into the Oakdale Correctional Complex in Louisiana, Andrew S. Fastow, the former Enron Corp. finance chief, was sentenced to six years in prison and two years of community service.
Community News

Canadian CFOs Forecast Steady Fourth-Quarter Hiring

Hiring activity among Canada’s accounting and finance professionals is expected to remain steady during the fourth quarter, according to the quarterly Robert Half Financial Hiring Index.
A&A

Survey Shows Accountants Are Most Trusted Advisers

Accountants are sought after for business advice more often than lawyers or bankers, according to a new survey of small business owners.Advertisement
Community News

PricewaterhouseCoopers Launches U.S. Valuation Services

PricewaterhouseCoopers (PwC) has announced the launch of a U.S. valuation practice that offers a full range of valuation services. The valuation services are organized into two teams, the Transaction Services Accounting and Valuation Advisory practice and the Business Advisory practice. With the U.S.
A&A

Appearing at the Forum on Small Business Capital Formation

Videotaped remarks from Christopher Cox, chairman of the Securities and Exchange Commission (SEC), will open the annual Government-Business Forum on Small Business Capital Formation. The Forum will be held on Friday, September 29, beginning at 9:00 a.m. (Eastern Daylight Time) at the Washington, D.C., headquarters of the SEC.
Practice Management

Chicago, Orange County Firms Join TIAG

Two American accounting firms, BrookWeiner LLC of Chicago, Ill., and Corbin & Company in Irvine, Calif., joined U.S.-based The International Accounting Group (TIAG) earlier this month.
Community News

Thinking About Food: The Price of Healthy Eating

On September 14, the Food and Drug Administration (FDA) issued a warning against spinach consumption in the United States as a result of more than 100 cases of E. coli being reported across 20 states and linked to uncooked spinach. This is the latest of the health-related blows that periodically rock the food industry and have an extensive financial impact.Consider: Two lawsuits have already been filed related to the current outbreak. The first was filed in District Court in Oregon and the second in the District Court of the Eastern District of Wisconsin.
Community News

OFHEO Head Wants Congress to Act on New Rules for Fannie and Freddie

James Lockhart, director of the Office of Federal Housing Enterprise Oversight (OFHEO), the federal watchdog for Fannie Mae and Freddie Mac, the mortgage giants, said in prepared remarks to the American Enterprise Institute that if Congress does not act now on a bill to create stronger regulations for the companies, “the enterprises and their shareholders will continue to confront uncertainty,” MarketWatch reports.
Community News

Leslie Mostow Named Chairman of Maryland’s Board of Public Accountancy

On September 5, Reznick Group Principal Leslie A. Mostow, CPA, was named Chairman of the Maryland State Board of Public Accountancy. The Board of Public Accountancy is the governing organization of certified public accountants (CPAs) in the state, establishing licensing guidelines and regulating individuals and firms that offer accounting services.“This appointment is, without question, a highlight of my career,” commented Mostow.
Community News

Dell Delays Filing Due to Accounting Issues; Battery Technology May be Problem

Dell Computer, Inc. announced Monday that it would delay filing its Form 10-Q for the second quarter because of questions raised in a previously announced informal inquiry by the Securities and Exchange Commission (SEC) into accounting and reporting matters from 2005. The company also announced that the U.S.
Practice Management

IMA Reintroduces Statements on Management Accounting

The Institute of Management Accountants (IMA) has reintroduced the IMA’s Statements on Management Accounting (SMAs) representing a comprehensive summary of specific bodies of knowledge defining competency in management accounting.
Community News

Succeeding in a Varied Business Culture

Today, many people do business outside of their own country, either in person or by some form of communication, and this can prove to be a dicey proposition. Even in the United States there are differences in customs between states and regions.
Community News

Honoring Elijah Watt Sells Award Winners & Top CPA Exam Scorers

The American Institute of Certified Public Accountants (AICPA) has announced the winners of the 2005 Elijah Watt Sells Awards. The awards are presented annually to the 10 candidates earning the highest cumulative scores on the four sections of the Uniform CPA Examination.
Community News

Utah CPAs Oppose Dual Track Income Tax Plan

The Utah Association of Certified Public Accountants last week sent a letter to Governor Jon Huntsman, Jr. criticizing the governor’s proposed two-option income tax plan scheduled for a vote in a special session of the state legislature later this month. “There is no question that true tax reform is needed in the state of Utah", the letter said, according to the Salt Lake Tribune.
Technology

Emphasis on Customer Service: Crowe Chizek, PKF Texas and Microsoft

The customer comes first. In an effort to achieve this standard, accounting firms Crowe Chizek and Company LLC and Pannell Kerr Forster of Texas P.C. (PKF Texas) are both working with Microsoft but in very different ways. For the second consecutive year, Crowe Chizek has been named to the Microsoft Business Solutions President’s Club. “Crowe is honored to be recognized for our strong relationships with both Microsoft Business Solutions and our clients,” Crowe chief executive officer (CEO) Mark Hildebrand said in a statement announcing the distinction.
A&A

Farmers Get More Time to Sell Livestock Because of Drought

The Internal Revenue Service (IRS) is granting farmers affected by exceptional, extreme or severe drought conditions additional time to purchase replacement property for livestock they were forced to sell.
Community News

H&R Block Plans to Reduce Refund Lending Costs by Opening Bank Accounts

One million tax return clients of H&R Block may soon have low cost bank accounts.
A&A

CCH Expands SMB Market Position with TaxWise Acquisition

CCH, a Wolters Kluwer business and part of Wolters Kluwer Tax, Accounting & Legal division, announced the signing of an agreement to acquire the stock of TaxWise Corporation. The acquisition will enhance CCH’s ability to meet a wider range of professionals’ needs across market segments. “This acquisition will represent a significant strategic opportunity for CCH to further grow its small- and mid-market position with established tax preparation software and bank product lines,” CCH President and CEO Kevin Robert said.
A&A

AICPA Survey Says: Accounting Executives Losing Confidence

The latest Business and Industry Economic Outlook survey from the American Institute of Certified Public Accountants (AICPA) indicates that certified public accountants (CPAs) in the C-suites of corporate America are increasingly pessimistic.

Pages