Accounting
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May 17- Caterpillar Inc has reached a deal to cut $135 million from the price owed for a Chinese mining equipment maker, after accounting irregularities were discovered at the acquired company that forced Caterpillar to take a $580 million impairment charge.
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May 17- Caterpillar Inc has reached a deal to cut $135 million from the price owed for a Chinese mining equipment maker, after accounting irregularities were discovered at the acquired company that forced Caterpillar to take a $580 million impairment charge.
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By Huw Jones and Dena Aubin. LONDON/ NEW YORK, May 16- Company balance sheets could swell by trillions of dollars under an international plan issued on Thursday by two accounting bodies to show more clearly the cost of leasing everything from photocopiers to property.
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The new results reflect an accounting adjustment for some customer credits in its part-owned AmeriGas unit, which lowered earnings by about 2 cents per share. UGI now says it earned $171.9 million, or $1.49 per share, for the three months ended March 31. On April 30, UGI said its revenue for the quarter rose 5 percent to $2.55 billion, from $2.43 billion a year ago.
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The jeweler who allegedly made more than $1 million thanks to stock tips from his buddy at KPMG appeared in court today, with CNBC's Jane Wells.
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May 7- Mortgage finance company Fannie Mae and accounting firm KPMG have agreed to pay $153 million to settle a shareholder lawsuit filed by Ohio pension funds and others accusing the companies of issuing false and misleading financial reports, the Ohio attorney general said on Tuesday.
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May 7- Mortgage finance company Fannie Mae. and accounting firm KPMG have agreed to pay $153 million to settle a shareholder lawsuit filed by Ohio pension funds and others accusing the companies of issuing false and misleading financial reports, the Ohio attorney general said on Tuesday.
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May 7- Mortgage finance company Fannie Mae and accounting firm KPMG have agreed to pay $153 million to settle a shareholder lawsuit filed by Ohio pension funds and others accusing the companies of issuing false and misleading financial reports, the Ohio attorney general said on Tuesday.
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May 7- American Express Co said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months." Henry, 63, joined American Express in 1990 and has served as CFO since 2007. He was a partner at accounting firm Ernst& Young before joining the company.
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Hard-pressed company bosses across much of the world are under so much pressure to deliver on growth that many have resorted to cooking the books, Ernst & Young says in its latest Fraud Survey.
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CNBC's Jackie DeAngelis reports Bryan Shaw plead guilty to receiving stock tips in the KPMG case, and President Obama is predicting the U.S. will become a net exporter of gas by 2020 according to the FT.
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One in five of almost 3,500 staff quizzed in 36 countries in Europe, the Middle East, Africa and India said they had seen financial manipulation in their companies in the last 12 months, the accounting and consultancy firm said.
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One in five of almost 3,500 staff quizzed in 36 countries in Europe, the Middle East, Africa and India said they had seen financial manipulation in their companies in the last 12 months, the accounting and consultancy firm said.
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*Overhaul meant to shine light on lease-related liabilities. NEW YORK/ LONDON, May 2- Corporations may have to shoulder trillions of dollars of new balance-sheet liabilities under an accounting change for leases that is meeting stiff resistance from businesses in a test of international accounting standard-setters' resolve.
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*Effort to align U.S., international accounting at stake By Dena Aubin and Huw Jones. NEW YORK/ LONDON, May 2- Corporations may have to shoulder trillions of dollars of new balance-sheet liabilities under an accounting change for leases that is meeting stiff resistance from businesses in a test of international accounting standard-setters' resolve.
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May 1- IEC Electronics Corp:. *To restate statements at co's unit due to an error in accounting for. profit during all such restated periods of about $2.2 million.
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April 26- Las Vegas Sands Corp, the casino company, said on Friday that accounting firm PricewaterhouseCoopers will not stand for re-election as the company's auditor, ending a 25- year relationship with Sands founder and chairman Sheldon Adelson.
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April 26- Las Vegas Sands Corp, the casino company, said on Friday that accounting firm PricewaterhouseCoopers will not stand for re-election as the company's auditor, ending a 25- year relationship with Sands founder and chairman Sheldon Adelson.
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April 26- Las Vegas Sands Corp, the casino company, said on Friday that accounting firm PricewaterhouseCoopers will not stand for re-election as the company's auditor, ending a 25- year relationship with Sands founder and chairman Sheldon Adelson.
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MILAN, April 26- The auditors of Italian oil services company Saipem found failings in the internal control system of the company, according to a letter by the company's internal audit committee published on the company website on Friday. Saipem and Eni, who both deny any wrongdoing, have launched internal audits.
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MILAN, April 26- The auditors of Italian oil services company Saipem found failings in the internal control system of the company, according to a letter by the company's internal audit committee published on the company website on Friday. Oil major Eni owns more than 40 percent of Saipem.