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Corporate Finance Accounting

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  • TOKYO, July 9- An independent investigation of Toshiba Corp's accounting irregularities is looking at the role played by top officials, people familiar with the matter said, a move that could force a management overhaul at the Japanese conglomerate. As the probe has widened from looking into accounting errors at Toshiba's infrastructure business to...

  • *Toshiba considering selling part of Westinghouse stake- sources. TOKYO, July 9- Toshiba Corp, which is expected to write down profits due to an accounting scandal, is considering selling assets including part of its stake in Westinghouse Electric, sources with knowledge of the matter said on Thursday. Toshiba may need to mark down past earnings by over 100...

  • TOKYO, July 8- Japan's Toshiba Corp has talked with banks about a credit line worth up to $4.9 billion to secure funding in case an investigation into accounting irregularities hurts its creditworthiness, sources familiar with the discussions said on Wednesday. The sources said Toshiba has sounded out its three main banks on a credit line worth between 500...

  • *Singapore Exchange says welcomes company's decision. SINGAPORE, July 7- Noble Group Ltd, Asia's biggest commodities trader, said it has hired PricewaterhouseCoopers to review the way it values some of its assets- its biggest move yet to boost transparency after an attack on its accounting practices. Allegations by little known Iceberg Research in February...

  • SINGAPORE, July 7- Noble Group Ltd, Asia's biggest commodities trader, said it has hired PricewaterhouseCoopers to review the way it values some of its assets- its biggest move yet to boost transparency after an attack on its accounting practices. Allegations by little known Iceberg Research in February that Noble was inflating its assets by billions of...

  • SINGAPORE, July 7- Singapore- listed Noble Group Ltd said on Tuesday it had hired external auditors to review the way it values its contracts after a research firm alleged Asia's biggest commodities trader was inflating its assets through aggressive accounting. Noble's shares have fallen by as much as 48 percent since Iceberg Research issued its first report...

  • Behind the plunge in Toshiba shares Monday, 6 Jul 2015 | 12:33 AM ET
    Behind the plunge in Toshiba shares

    On Monday, shares of Toshiba plunged as much as 5 percent amid an ongoing independent investigation into accounting irregularities. CNBC's Kaori Enjoji reports.

  • *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...