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Accounting

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  • WASHINGTON, Dec 29- Female chief financial officers at U.S. corporations are less likely to adopt high-risk tax-avoidance strategies than their male counterparts, according to a study by an accounting group. The analysis was done by four accounting professors at Rensselaer Polytechnic Institute and Fordham University. Tax aggressiveness was gauged by the...

  • LONDON, Dec 22- When Phil Clarke was sacked as Tesco's CEO, senior executives hoped his 0700 strategy meetings would go with him. They did- new boss Dave Lewis starts his at 0630.. Parachuted in from Unilever in September, Lewis soon faced the task of making the shock announcement that a 250 million pound hole had been found in Tesco's profits, in an accounting scandal...

  • American Realty shares closed down 4 percent on the Nasdaq on Thursday. American Realty could not be immediately reached for comment. American Realty said on Oct. 29 McAlister and Block had resigned after its audit committee discovered "intentional" accounting errors.

  • Dec 18- A former executive of American Realty Capital Properties Inc alleged former chairman Nicholas Schorsch directed her and another executive to manipulate financial results, the Wall Street Journal reported. American Realty shares closed down 4 percent on the Nasdaq on Thursday. American Realty had then said McAlister and Chief Financial Officer...

  • Dec 11- Wal-Mart Stores Inc said it discovered discrepancies in pricing and inventory at its China operations in 2011 and has since reinforced its compliance policies in the country. Bloomberg reported on Wednesday that Wal-Mart had used "questionable accounting and unauthorized sales practices" to make its retail business in China appear stronger at a...

  • Dec 11- Wal-Mart Stores Inc has been using questionable accounting and unauthorized sales practices to make its retail business in China appear stronger, Bloomberg reported, citing internal documents and interviews with employees. Wal-Mart stores in China resorted to temporary mark-ups of inventory as an accounting move to prop profit without any added...

  • *Says 2014-15 trading profit will not exceed 1.4 bln stg. *Analysts had expected profit of around 1.9 bln stg. LONDON, Dec 9- Tesco slashed its profit forecasts for the fourth time in five months as its new boss took costly measures to rebuild the British grocer after its recent accounting scandal and dramatic loss of customers in an increasingly cut-throat market.

  • *Says 2014-15 trading profit will not exceed 1.4 bln stg. LONDON, Dec 9- Tesco cut profit expectations for the fourth time in five months on Tuesday as the cost of rebuilding after an accounting scandal and a dramatic loss of market share increased pressure on the British grocer and its new boss. Chief Executive Dave Lewis, who joined to rescue Britain's largest...

  • SEC Chief Accountant James Schnurr said in a speech that he does not have a predetermined view on an approach to the long-standing issue of harmonizing corporate accounting worldwide. The SEC for over a decade has grappled with whether and how to move the United States closer to IFRS, but has put off a final decision for years. The SEC requires U.S. companies to use...

  • U.S. watchdog says flaws persist in public company audits Wednesday, 3 Dec 2014 | 12:32 PM ET

    WASHINGTON, Dec 3- A sampling of audits of public companies reviewed last year showed numerous deficiencies in opinions issued by the four largest U.S. accounting firms, the top U.S. audit watchdog said on Wednesday. In a speech before the U.S. Chamber of Commerce, Public Company Accounting Oversight Board Chairman James Doty said that of the 219 "Big Four" audits...

  • LONDON, Dec 3- Britain plans to introduce a 25 percent tax to target multinationals such as tech companies Google and Amazon accused of using complex accounting schemes to cut their payments on earnings. Companies including Google, coffee shop chain Starbucks and internet retailer Amazon have paid minimal corporate tax in Britain by shifting revenues to...

  • Dec 1- Malaysian online payments company MOL Global Inc said Chief Financial Officer Allan Wong resigned last month for personal reasons, not because of any accounting or financial reporting issues. MOL Global's shares, which were halted on Nov. 24 after the company said it would delay its quarterly earnings report, fell as much as 45 percent to $2.25 after...

  • Dec 1- Malaysian online payments company MOL Global Inc said Chief Financial Officer Allan Wong resigned last month for personal reasons, not because of any accounting or financial reporting issues. Nasdaq-listed MOL Global said on Nov. 20 it would delay its third-quarter earnings report and announced Wong's departure at the same time, without citing a...

  • Nov 25- New Jersey's retirement system for public employees is in worse shape than previously reported, thanks to recent accounting changes that are starting to be rolled out across the country. Under new pension accounting standards, issued by the Government Accounting Standards Board, the New Jersey system's overall funded level stands at 44 percent for...

  • EY: Making progress on US-China audit spat   Wednesday, 10 Sep 2014 | 9:45 PM ET
    EY: Making progress on US-China audit spat

    Mark Weinberger, Global Chairman of EY, explains why he's hopeful for a resolution in the audit dispute between the U.S. and China.

  • Alibaba film unit found possible accounting flaws

    Alibaba Pictures, a film and TV production unit of Alibaba Group, said it had found possible irregular accounting ahead of the group's IPO. CNBC's Eunice Yoon reports.

  • Here's how we get to 'Made in the USA' Friday, 25 Jul 2014 | 11:06 AM ET

    If "Made in the USA" is really a national economic goal, then Congress needs to fix the problem here at home, says tax consultant Tim Larson.

  • NQ Mobile shares fall after auditor dismissed Friday, 18 Jul 2014 | 10:33 AM ET
    NYSE EuroNext flag hangs outside the NYSE.

    NQ Mobile, a Chinese mobile software maker facing allegations of fraud, saw its shares fall after it dismissed its independent auditor.

  • Fed's Dudley warns over Puerto Rico's debt load Tuesday, 24 Jun 2014 | 5:42 PM ET
    A man walks past a vacant building in the Santurce neighborhood of San Juan, Puerto Rico.

    New York Fed President William Dudley warned Puerto Rico about its growing debt load.

  • A renewal in the subscription business model Tuesday, 17 Jun 2014 | 6:00 AM ET
    Tien Tzuo, co-founder and CEO of Zuora

    Consumers today are more likely to obtain goods and services via a subscription than through a purchase, and that's where Zuora comes in.