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Accounting

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  • 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.

  • Tesco gives more detail on supplier deals after scandal Wednesday, 22 Apr 2015 | 4:55 AM ET

    LONDON, April 22- Tesco provided more information about how it accounts for relationships with suppliers on Wednesday after an accounting scandal that contributed to an annual loss of 6.4 billion pounds. Britain's biggest retailer announced last year it had overstated profits by 263 million pounds due to booking deals with suppliers too early, prompting a...

  • U.S. audit, consulting firm KPMG names first woman CEO Tuesday, 21 Apr 2015 | 9:40 AM ET

    NEW YORK, April 21- KPMG LLP has named Lynne Doughtie, head of the firm's advisory and consulting business, as its U.S. chairman and chief executive officer, the second woman this year to be tapped as CEO of a major U.S. accounting and consulting firm. Effective July 1, Doughtie, 52, will replace John Veihmeyer, whose five-year term as U.S. chairman and CEO ends on June 30,...

  • NEW YORK, April 15- Ernst& Young LLP will pay $10 million to settle a New York lawsuit accusing the accounting firm of helping Lehman Brothers Holdings Inc deceive investors in the years leading up to its 2008 collapse, the New York attorney general said on Wednesday. While the $10 million was much smaller than what the attorney general's office had sought, Ernst&...

  • NEW YORK, April 15- Ernst& Young LLP will pay $10 million to settle a New York lawsuit accusing the accounting firm of helping Lehman Brothers Holdings Inc deceive investors in the years leading up to its 2008 collapse, the New York attorney general said on Wednesday. While the $10 million was much smaller than what the attorney general's office had sought, Ernst&...

  • NEW YORK, April 15- Ernst& Young LLP is near settling a high-profile lawsuit filed by New York state that accused the accounting firm of helping Lehman Brothers Holdings Inc deceive investors in the years leading up to its 2008 collapse, people familiar with the matter told Reuters. A spokeswoman for Ernst& Young declined to comment, as did a spokesman for New York...

  • BEIJING, April 15- The Chinese government has hired seven accounting firms to carry out an audit of the overseas assets of China's state-owned enterprises, the sector's regulator said on Wednesday, as it tries to improve transparency and combat corruption. The State-owned Assets Supervision and Administration Commission said that it will spend 11.39...

  • Has Noble fought back the tide of Muddy Waters? Sunday, 12 Apr 2015 | 9:45 PM ET

    Asian commodity trader Noble Group has managed to fight off another round of research flak, this time from prominent short seller Muddy Waters.

  • Why Noble Group is worrying: GMT Research   Thursday, 9 Apr 2015 | 9:02 PM ET
    Why Noble Group is worrying: GMT Research

    Robert Medd, partner of GMT Research, outlines the research house's concerns over Singapore-listed Noble Groups' financial statements.

  • NEW YORK, April 1- The board that sets accounting rules for U.S. public companies proposed on Wednesday a one-year delay in sweeping new rules that would change the way companies recognize revenue, one of the most important numbers in corporate financial statements. The revised timeline from the U.S. Financial Accounting Standards Board calls for the rules to...

  • NEW YORK, April 1- The board that sets accounting rules for U.S. public companies proposed on Wednesday a one-year delay in sweeping new rules that would change the way companies recognize revenue, one of the most important numbers in corporate financial statements. The revised timeline from the U.S. Financial Accounting Standards Board calls for the rules to...

  • April 1- Wall Street analysts may be inadequately accounting for the dollar's sharp first-quarter rally, setting up a scenario in which some multinational companies may miss already low earnings estimates and be punished with selloffs of their shares. North American public companies could give up more than $25 billion in revenues and 7 cents per share in...

  • EDINBURGH, March 12- An international accounting standards body said on Thursday it was looking at developing new accounting methods for "hybrid" pensions which did not fit easily into standard categories. But many firms are also introducing hybrid pension schemes which do not fit neatly into either category, International Accounting Standards Board Chair...

  • "Hybrid" pensions may need new accounting rules-IASB Thursday, 12 Mar 2015 | 6:00 AM ET

    EDINBURGH, March 12- An international accounting standards body said on Thursday it was looking at developing new accounting methods for "hybrid" pensions which did not fit easily into standard categories. But many firms are also introducing hybrid pension schemes which do not fit neatly into either category, International Accounting Standards Board Chair...