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Accounting

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  • NEW YORK— A 79- year-old former New York accounting firm executive who did work for some of Bernard Madoff's most important clients has earned leniency at sentencing because his cooperation provided new insights into history's largest financial fraud, prosecutors said. In a filing late Thursday in Manhattan federal court, prosecutors wrote Paul...

  • *Accounting changes to increase 2014 loss to 1.745 bln riyals. DUBAI, June 28- Saudi Arabia's Etihad Etisalat will book further losses for 2014 after a regulator-led investigation into accounting errors at the company, it said in a statement on Sunday. The Capital Market Authority launched an investigation into the firm last November after Mobily, 28 percent...

  • What the new governance code means for Japan Inc Wednesday, 24 Jun 2015 | 7:45 PM ET
    What the new governance code means for Japan Inc

    Yusuf Azizullah, CEO of Global Board Advisors Corp, discusses the implementation of the corporate governance code this month in Japan.

  • GMT: AirAsia needs to raise $1.9B Tuesday, 23 Jun 2015 | 11:59 PM ET

    The negative analyst report that decked AirAsia shares finally went into wide release, accusing the airline of being a "new dog playing old tricks."

  • Why GMT's criticism of AirAsia is unfair: UOB Tuesday, 23 Jun 2015 | 11:25 PM ET
    Why GMT's criticism of AirAsia is unfair: UOB

    AirAsia's use of the "equity method" to account for associates' profits is in line with Malaysia's accounting standards, says K Ajith, director of Asia Transport Research at UOB Kay Hian Research.

  • GMT Research: Airasia is a new dog with old tricks Tuesday, 23 Jun 2015 | 9:06 PM ET
    GMT Research: Airasia is a new dog with old tricks

    Robert Medd, partner at GMT Research, says AirAsia is using transactions with its associates in the Philippines and Indonesia to boost the parent's operating cash flow.

  • LONDON, June 19- The European Commission said on Friday there was no clear evidence that adopting international accounting rules made the bloc's banking crisis worse and that its benefits outweighed the costs. The independent International Accounting Standards Board rules replaced a patchwork of national regulations 10 years ago for the 8,000 listed EU...

  • Short sellers put AirAsia in the crosshairs Wednesday, 17 Jun 2015 | 9:44 PM ET

    AirAsia became the latest short-selling target, with the shares in a tailspin despite analysts saying there’s nothing new in a negative research report.

  • HOUSTON/ NEW YORK, June 15- Steep downward revisions to oil and gas reserves at the end of this year are likely to increase scrutiny of how energy companies tally future barrels- a process that has become more opaque with the rise of shale drilling. Reserve growth is used at companies, including ConocoPhillips as a component of the chief executive's compensation.

  • June 4- Twitter Inc appointed Robert Kaiden, 48, as chief accounting officer. Gordon Lee, the interim chief accounting officer, will continue to work as controller at the microblogging company. Kaiden, who has worked at Deloitte& Touche LLP for about 14 years, will receive gross salary of $350,000 at an annualized rate at Twitter.

  • H&R Block tests virtual reality in market research Tuesday, 2 Jun 2015 | 11:22 AM ET
    Get your taxes done ...virtually

    CNBC's Jane Wells reports H&R Block is using Oculus as a research tool.

  • May 26- Nearly three years after the demise of law firm Dewey& LeBoeuf, a Manhattan prosecutor opened the criminal trial of three of the firm's former executives on Tuesday by accusing the trio of directing employees to make millions of dollars in bogus accounting entries to hide Dewey's deteriorating financial condition from investors and lenders.

  • May 26- Nearly three years after the demise of law firm Dewey& LeBoeuf, a Manhattan prosecutor opened the criminal trial of three of the firm's former executives on Tuesday by accusing the trio of directing employees to make millions of dollars in bogus accounting entries to hide Dewey's deteriorating financial condition from investors and lenders.

  • Anthony Harbinson, president of the Association of Chartered Certified Accountants, the global professional accounting body, said China needed accountants for roles in government and regulatory organisations, as well as for private companies. "Mainland China wants to develop accountants in the millions for both indigenous development and growth but...

  • Toshiba says to mark down reported profit for 3 years Wednesday, 13 May 2015 | 9:28 PM ET

    Toshiba is likely to mark down three fiscal years of profit by at least $419.43 million in total after an internal probe into accounting irregularities.

  • LONDON, May 11- Tesco, Britain's biggest retailer, has named Deloitte as its new auditor, ending its 32- year relationship with PricewaterhouseCoopers after an accounting scandal. The scandal led to the suspension, then exit, of several senior executives, and sparked investigations by Britain's Serious Fraud Office, accounting watchdog the Financial...

  • Tax documents: What to shred, and what to keep Friday, 8 May 2015 | 10:31 AM ET
    Taxes 1040 Other Taxes

    With tax season behind you, now is a good time to consider how you save your tax returns and other financial documents, NYT reports.

  • SINGAPORE, May 5- Noble Group, under scrutiny for its accounting methods, provided more disclosures about its fair value accounting after reporting a decline in quarterly profit, but the move was unlikely to immediately soothe worried investors. At its earnings call late on Tuesday, Chief Executive Yusuf Alireza gave an upbeat view on the outlook for Asia's...

  • WILMINGTON, Delaware, April 28- Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors, alleges $98...

  • Twitter stops its inside selling: Report Wednesday, 22 Apr 2015 | 6:32 PM ET
    Twitter's executives at the NYSE to launch their IPO on Nov. 7, 2013.

    After criticism of its 10b5-1 program, including by CNBC's Jim Cramer, the company quits the sales and the stock price goes up.