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Corporate Finance Accounting

  • LONDON, Dec 15- A new accounting rule forcing banks to set aside capital much earlier in case loans turn sour could have a significant impact on their financial statements, and they should be preparing for the change now, a global regulatory group said on Thursday. The new rule, known as IFRS9, is being introduced in more than 100 countries from January 2018,...

  • In a letter sent in September that became public on Tuesday, the Securities and Exchange Commission asked the bank's controller, Richard Levy, to explain how Wells Fargo went about valuing the portfolio, which it acquired primarily by buying Wachovia. The SEC's questions, which may represent another headache for Wells Fargo following a sales scandal, relate to...

  • Short selling makes its foray into Japan

    Yuki Arai, founder of Well Investments Research, says that more critical views are needed in Japanese capital markets.

  • *To encourage new Islamic finance products using gold. Dec 5- Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. The Bahrain- based Accounting and Auditing Organization for Islamic Financial Institutions spent a year...

  • *To encourage new Islamic finance products using gold. Dec 5- Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. The Bahrain- based Accounting and Auditing Organization for Islamic Financial Institutions spent a year...

  • Nov 28- Reconciling accounting standards and religious principles is challenging Islamic banks and regulators as they adapt to new international book-keeping rules due to come into force in 2018.. This has prompted the Bahrain- based Accounting and Auditing Organisation for Islamic Financial Institutions to set up a working group to look at ways to revise...

  • Nov 28- Reconciling accounting standards and religious principles is challenging Islamic banks and regulators as they adapt to new international book-keeping rules due to come into force in 2018.. This has prompted the Bahrain- based Accounting and Auditing Organisation for Islamic Financial Institutions to set up a working group to look at ways to revise...

  • PETRITSI, Bulgaria Nov 23- Greek businessman Prokopis Makris believes moving to Bulgaria three years ago was the best decision he ever made. The accountant shut his failing furniture company in Greece and opened a business helping other entrepreneurs move to Bulgaria to escape a 29 percent tax rate, which has jumped since Athens adopted austerity as part of an...

  • PETRITSI, Bulgaria Nov 23- Greek businessman Prokopis Makris believes moving to Bulgaria three years ago was the best decision he ever made. The accountant shut his failing furniture company in Greece and opened a business helping other entrepreneurs move to Bulgaria to escape a 29 percent tax rate, which has jumped since Athens adopted austerity as part of an...

  • PETRITSI, Bulgaria Nov 23- Greek businessman Prokopis Makris believes moving to Bulgaria three years ago was the best decision he ever made. The accountant shut his failing furniture company in Greece and opened a business helping other entrepreneurs move to Bulgaria to escape a 29 percent tax rate, which has jumped since Athens adopted austerity as part of an...

  • PETRITSI, Bulgaria Nov 23- Greek businessman Prokopis Makris believes moving to Bulgaria three years ago was the best decision he ever made. The accountant shut his failing furniture company in Greece and opened a business helping other entrepreneurs move to Bulgaria to escape a 29 percent tax rate, which has jumped since Athens adopted austerity as part of an...

  • PETRITSI, Bulgaria Nov 23- Greek businessman Prokopis Makris believes moving to Bulgaria three years ago was the best decision he ever made. The accountant shut his failing furniture company in Greece and opened a business helping other entrepreneurs move to Bulgaria to escape a 29 percent tax rate, which has jumped since Athens adopted austerity as part of an...

  • Nov 22- The U.S. Securities and Exchange Commission said on Tuesday that it would name Wesley Bricker its chief accountant after incumbent James Schnurr retires. Bricker, formerly a partner at PricewaterhouseCoopers LLP, has served as the SEC's deputy chief accountant since 2015 and interim chief accountant since July 2016, when Schnurr was recovering from a...

  • TOKYO, Nov 14- Around half of Japanese companies are facing tighter audits and have boosted or may take steps to boost accounting compliance- moves that come after a damaging accounting scandal at conglomerate Toshiba Corp last year, a Reuters poll found. The same survey also found that about half of firms are reviewing working hours, with many looking to cut down...

  • TOKYO, Nov 14- After a damaging accounting scandal at Toshiba Corp last year, half of Japanese firms have seen changes in the way they are audited and have taken or are considering steps to boost book-keeping compliance, a Reuters poll shows. The findings suggest some, if incomplete, progress has been made in Prime Minister Shinzo Abe's push to improve corporate...

  • LONDON, Nov 2- A global accounting standards body aims to revamp how companies present financial information to give investors a clearer picture of performance. The International Accounting Standards Board wants to make company reports more uniform globally and increase discipline in how accountants present their findings. IASB Chairman Hans...

  • Oil storage tanks and refining facilities sit at a refinery operated by Exxon Mobil Corp.

    Exxon Mobil said it could write down billions of barrels of reserves as the company faces federal investigations into how it values them.

  • CHICAGO, Oct 27- United Parcel Service Inc on Thursday reported a higher quarterly net profit that met analyst expectations and reiterated its full-year 2016 earnings outlook, but warned its fourth-quarter results could be affected by a year-end mark-to-market pension accounting adjustment. UPS said it expects record peak volumes of more than 700 million...

  • CHICAGO, Oct 27- Package delivery company United Parcel Service Inc on Thursday reported a higher quarterly net profit that met expectations and reiterated its full-year 2016 earnings outlook, but warned that its fourth-quarter results could be affected by a year-end mark-to-market pension accounting adjustment. Some 1,200 mechanics and other workers...

  • CHICAGO, Oct 27- Package delivery company United Parcel Service Inc on Thursday reported a higher quarterly net profit that met expectations and reiterated its full-year 2016 earnings outlook, but warned that its fourth-quarter results could be affected by a year-end mark-to-market pension accounting adjustment. The Atlanta- based company reported...