accounting

Tvia, Inc. , announced today that the audit committee of its board of directors has commenced a review of the Company’s financial results for the 2006 and 2007 fiscal years and the quarterly periods therein with respect to issues related to collectibility of accounts receivable, the value of inventory held by customers and the timing of recorded sales. Pending the completion of its review, the …

A Junket to Israel 
For independent-minded journalists, there are better ways to see the world than media junkets. But–and my accounting department will back me up here–there aren’t many better ways to pay for it. So two weeks ago, I set out for Israel on the dime of the American Israel Education Foundation, affiliated with the American Israel Political Affairs Committee.

First Charter Enhances Financial Team With New Senior Leaders 
CHARLOTTE, N.C.—-First Charter Corporation announced today the recent additions of two key leaders in its Finance Division. Sheila Stoke was named Senior Vice President, Principal Accounting Officer, and Controller for First Charter Corporation.

Click Accounting Resources for more information

Shares of Thor Industries Inc. tumbled Tuesday after the recreational vehicle and commercial bus maker said it may need to restate two years of financial results due to accounting issues at a subsidiary.

Bush to put economic progress on agenda 
President Bush chose Wall Street as the stage to bring his economic message out from the shadows of the Iraq war.

Smart Online Releases Enhanced Software-as-a-Service Accounting for Small Businesses Looking for an Alternative to … 
RESEARCH TRIANGLE PARK, N.C.—-Smart Online Inc. , a leading provider of Software-as-a-Service for the small business market, today announced the release of its newly enhanced Web-based Accounting application.

KLA-Tencor takes $370M hit over options, accounting, posts delayed earnings 
KLA-Tencor Corp. said Monday it took $370 million in non-cash charges over backdated stock option grants and accounting mistakes.

Click Accounting Resources for more information

Executives in accounting, advertising, finance, high tech and new media, law and real estate have all found new digs. Check out the new faces in key places.

Thor Industries, Inc. 
Thor Industries, Inc. , announced today that the Audit Committee of its Board of Directors has initiated, with the assistance of independent outside advisors, an internal investigation regarding certain accounting issues at its Dutchmen Manufacturing, Inc. operating subsidiary, primarily involving inventory, accounts receivable, accounts payable, and cost of goods sold.

Smart Online Releases Enhanced Software-as-a-Service Accounting for Small Businesses Looking for an Alternative to … 
RESEARCH TRIANGLE PARK, N.C.—-Smart Online Inc. , a leading provider of Software-as-a-Service for the small business market, today announced the release of its newly enhanced Web-based Accounting application.

MBIA TO SETTLE FOR $75M 
MBIA Inc., the world’s largest bond insurer, agreed to pay $75 million to end an investigation by regulators into securities and accounting fraud related to the default of $256 million of hospital bonds it guaranteed. The company will pay…

KPMG Sponsors College Auditing Competition 
New York (Jan. 30, 2007) - Teams of accounting students from 22 colleges have accepted an invitation to participate in the inaugural KPMG National Audit Case Competition.

Click Accounting Resources for more information

Blue Coat Systems Inc. said Monday its stock will continue to be listed by Nasdaq pending a review by the listing council.

Board solicits bids for new management of Ocqueoc center 
Dissatisfaction with the Presque Isle County Tourism Councils accounting of Ocqueoc Outdoor Recreation Center transactions is prompting the Presque Isle County Board of Commissioners to solicit bids for new management of the center.

Forensic accounting need draws Rodefer Moss 
A regional accounting firm and a local valuation and litigation expert have formed a new company to take advantage of a fast-growing need for valuation and forensic accounting services in Nashville.

DreamWorks Animation Announces Departure of Chief Accounting Officer 
GLENDALE, Calif., Jan. 26 /PRNewswire-FirstCall/ — DreamWorks Animation ( Nachrichten ) SKG today announced that William Losch, the company’s Chief Accounting Officer, has given notification that he will be leaving the company and is planning to relocate to northern California.

Former Cendant exec gets no prison time for role in scandal 
BRIDGEPORT, CONN. A former executive was spared prison time Monday for her role in a massive accounting scandal at Cendant Corp. that cost the company and its investors more than $3-billion (U.S.).

Click Accounting Resources for more information

PROSSER — Prosser had to earn its victory from the foul line Saturday night, and the Mustangs stepped up and coolly cashed in. Prosser made 18 of 24 foul shots in the final quarter, accounting for all but 11 of its 29 points in the quarter, as it held on for a 75-64 victory against third-ranked Wapato in a CWAC boys basketball game.

Bank Suit Targets Accounting Firm 
MIAMI (AP) — An attorney told a jury today that an accounting firm failed to find key warning signs that another company was built on fraud, negligence and dishonesty. The attorney’s argument came in an opening statement of a trial of the accounting firm BDO Seidman.

Atlanta Based Moore Colson, CPA Admits Two New Partners 
Atlanta, Georgia (PRWeb) January 28, 2007 — Atlanta based accounting firm Moore Colson recently announced the admission of two new partners.

Cardinal Health founder faces possible SEC suit 
COLUMBUS, Ohio Robert Walter, the founder of Cardinal Health Inc., may be sued by federal regulators over accounting issues with the health-care products and services company that date back to 2003.

Click Accounting Resources for more information

TORONTO Telecommunications gear manufacturer Nortel will use KPMG as its independent auditing firm, ending its relationship with Deloitte & Touche. Nortel’s board of directors made the decision, which takes effect with fiscal year 2007.

11-month trade between RP, Taiwan rose 4% to $6.81B 
MANILA, Philippines–Trade between Taiwan and the Philippines increased by 4 percent to about $6.81 billion in the 11 months to November as the two governments work out details related to a growth corridor that traverses the Luzon Strait.

Trial opens in bank lawsuit against BDO Seidman accounting firm 
Accounting firm BDO Seidman LLP failed to find key warning signs that a Florida financial services company was built on massive fraud because of negligence and dishonesty, an attorney said Thursday as a trial opened in a Portuguese banks lawsuit against the firm.

Click Accounting Resources for more information

GLENDALE, Calif., Jan. 26 /PRNewswire-FirstCall/ — DreamWorks Animation ( Nachrichten ) SKG today announced that William Losch, the company’s Chief Accounting Officer, has given notification that he will be leaving the company and is planning to relocate to northern California.

Executive moves 
Executives in accounting, advertising, finance, high tech and new media, law and real estate have all found new digs. Check out the new faces in key places.

SEC may sue Cardinal founder 
Robert Walter, the founder of Cardinal Health Inc., may be sued by federal regulators over accounting issues with the health care products and services company that date back to 2003.

Ex-CA CFO Gets 7 Months Prison 
CA Inc.’s former chief financial officer, Ira Zar, was sentenced Friday to seven months in prison and seven months home detention after pleading guilty to criminal charges and cooperating with prosecutors investigating a massive accounting fraud at the software company.

Click Accounting Resources for more information

COLUMBUS, Ohio The founder of Cardinal Health may be sued by federal regulators over accounting issues with the health care products and services company that date back to 2003.

PCAOB Appoints New General Counsel 
The Public Company Accounting Oversight Board appointed Gordon Seymour to succeed Lewis Ferguson as general counsel. Seymour will take over as the regulator’s chief lawyer next month. He joined the PCAOB in 2003 as acting general counsel. Since 2004 he has served as deputy general counsel.

Where to find tax breaks 
You won’t see a space for them on the forms the IRS sent you. And maybe not even in the tax prep software you beat the rush to buy weeks ago. But the money-savers are there, hidden like unadvertised specials. We’ll fill you in.

Click Accounting Resources for more information

New license revenue hit $327 million thanks to an increase in sales of the company’s Adaptive Server Enterprise.

GM sees record fourth quarter revenues, will restate prior results 
General Motors said it expects to show improvement in its automotive business, including record fourth quarter revenues, but will restate past financial results due to tax accounting adjustments.

Eritrea: Auditor General Wins International Award 
The Eritrean Auditor General, Mr. Berhane Habtemariam, won an international award for 2006 from the Association of Chartered Certified Accountants (ACCA) for his “outstanding contribution in the accounting and finance profession.”

Click Accounting Resources for more information

William Losch, 45, who has been with DreamWorks since April 2005, is leaving to relocate to northern California. The company said at Losch’s request it will not exercise its option to extend his current employment agreement, which expires in April.

Eddie Bauer finds errors, delays investor meeting 
Eddie Bauer Holdings Corp. said on Thursday that it is postponing a meeting for shareholders to vote on a proposed $286 million buyout after discovering tax accounting errors.

IMF Has Not Adopted Accounting Changes to Gold Loans 
Contrary to claims made earlier this week, the IMF told Resource Investor no policy changes have been made concerning the way central banks account for gold loaned into the market.

DreamWorks Animation Announces Departure of Chief Accounting Officer 
DreamWorks Animation SKG today announced that William Losch, the company’s Chief Accounting Officer, has given notification that he will be leaving the company and is planning to relocate to northern California. At Mr. Losch’s request, the company has elected not to exercise its option to extend Mr. Losch’s current employment agreement, which expires in April 2007. Mr. Losch will remain in his …

GM Will Restate Earnings For Fourth Quarter 
General Motors Corp. says it will make a net quarterly profit for the first time in two years, but will delay reporting 2006 financial results because of accounting errors and other issues.

Click Accounting Resources for more information