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Corporate Finance Accounting

  • COLUMBUS, Ohio— Want to know how much money governments give away in corporate tax breaks? The nonprofit Government Accounting Standards Board changed its guidelines beginning in 2016 to require reporting of economic development tax breaks. "Before you get to the question of whether they're getting their money's worth, you have to know how much is being spent,"...

  • LONDON, May 18- Insurers in over 100 countries face a "once in a lifetime" accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. The new rule from the International Accounting Standards Board will affect 450 listed insurers who manage $13 trillion in assets.

  • LONDON, May 18- Insurers in over 100 countries face a "once in a lifetime" accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. The new rule from the International Accounting Standards Board will affect 450 listed insurers who manage $13 trillion in assets.

  • Ruth Porat

    New rules could distort the way companies like Alphabet, Intel, IBM and Salesforce report their earnings, The New York Times reports.

  • LONDON, May 11- BT, Britain's biggest telecoms group, said it would shake up its global service division that serves multinationals and scale back its dividend growth ambitions as it recovers from an accounting scandal in Italy and a profit warning. Reporting fourth-quarter revenue of 6.12 billion pounds, up 10 percent, and adjusted earnings of 2.07 billion...

  • LONDON, May 11- Britain's accounting watchdog has fined PwC a record five million pounds over the way it checked the books of collapsed social housing maintenance company Connaught. The Financial Reporting Council also fined Stephen Harrison, a retired PwC audit partner, 150,000 pounds for misconduct in relation to the 2009 audit of listed Connaught, which...

  • LONDON, May 11- BT, Britain's biggest telecoms group, said it would shake up its global service division that serves multinationals and scale back its dividend growth ambitions as it recovers from an accounting scandal in Italy and a profit warning. Reporting fourth-quarter revenue of 6.12 billion pounds, up 10 percent, and adjusted earnings of 2.07 billion...

  • LONDON, May 11- BT, Britain's biggest telecoms group, said it would shake up its global service division that serves multinationals and scale back its dividend growth ambitions as it recovers from an accounting scandal in Italy and a profit warning. Reporting fourth-quarter revenue of 6.12 billion pounds, up 10 percent, and adjusted earnings of 2.07 billion...

  • *Union Properties volatile in tussle over board membership. *Strong Q1 earnings boost Qatar's Ezdan Holding. DUBAI, May 1- Most Gulf stock markets rose on Monday, with shares in healthcare and education investment company Amanat Holdings accounting for more than 40 percent of Dubai's market volume with a 4.5 percent rise.

  • Toshiba Corp CEO Satoshi Tsunakawa bows as the start of a news conference at the company's headquarters in Tokyo, Japan, April 11, 2017.

    Toshiba axing PwC as its accountant is an ugly look for a firm that badly needs to win back investors' trust, says Breakingviews' Quentin Webb.

  • TOKYO, April 26- Toshiba Corp, the troubled Japanese conglomerate, wants to replace auditor PricewaterhouseCoopers Aarata to resolve an impasse over full-year earnings and remain listed, two sources briefed on the matter said. Ernst& Young ShinNihon LLC, its auditor at the time, was fined for failing to spot irregularities. Toshiba and its auditor have been at...

  • TOKYO, April 26- Toshiba Corp has decided to replace its auditor after less than a year as the troubled electronics conglomerate struggles to win its approval on full-year financial statement, the Nikkei business daily reported. Earlier this month, the company filed twice-delayed business results without an endorsement from auditor...

  • WASHINGTON, April 25- Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo's books during the time period that the bank's sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty,...

  • WASHINGTON, April 25- Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo's books during the time period that the bank's sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty,...

  • TOKYO, April 21- Japanese stocks rose to 1-1/ 2 week highs on Friday as global investors bet that U.S. tax reforms are getting back on track, but Fujifilm Holdings tumbled after it delayed its earnings release due to an accounting probe. Investor caution had also heightened amid mounting tensions between North Korea and the United States. Treasury Secretary...

  • SAO PAULO, April 19- Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest listed flat steelmaker, said on Wednesday that unaudited net income totaled 108 million reais in the first quarter. In a securities filing, Usiminas said the result remains subject to changes because of potential accounting adjustments and auditing revisions.

  • LONDON, April 18- Accounting practices at the London Metal Exchange were "extremely lax", a court heard on Tuesday, as a former accountant was sentenced to 32 months in prison for using LME credit cards to pay for luxury holidays and home improvements. Annmarie Norris worked her way up at the LME, the world's biggest market for industrial metals, to head the...

  • But a series of recent reports by the Defense Department Inspector General and the Government Accountability Office say that Pentagon accounting systems will struggle to track how the money is spent. The reports found that the Pentagon remains unable to accurately track its $591 billion annual budget and experiences billions of dollars in accounting...

  • The Wall Street Journal reported that a KPMG employee received "improper advance warnings" of inspections and shared it with executives.

  • Toshiba will file its twice-delayed earnings results as early as noon Tuesday, with a disclaimer of opinion from auditors, Reuters reported.