Welcome
Welcome to the AccountingEducation.com community.
Happy 10th birthday to us! - Our online community became 10 years old on 1 April (no - not an April fool - we really have been doing it this long and our newswire - Double Entries - was going for some years before this and is now in its 15th volume!)
If you are a regular user of our website or newswire we'd love to hear how you use these facilities as we plan a special series of newswires to celebrate our anniversary year outlining how the community has helped people all over the world in these last 10 years. Please take a moment to email us your comments at editor@accoutingeducation.com (would be great to let our various correspondents know their work is not in vain please!)
If you are new to the site - please feel free to use the contents of the site as you need. To make full use of this site you should register as a user as some content is only available to you once you have signed up. Click on the register option above - it only takes 2 minutes and there is no charge to join. Why not sign up for our free weekly newswire at the same time? We welcome participation and suggestions - contact us at info@accountingeducation.com with any ideas for development you may have.
Latest News
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NEW ACCA REPORT ARGUES ECONOMIC CONDITIONS PLACE CFOS IN THE SPOTLIGHT
01 July 2009
The economic downturn has raised the senior finance executive’s profile in organisations worldwide, with more Chief Financial Officers (CFOs) involved in strategy development and prioritising risk management than this time last year, finds new research from CFO Research Services and ACCA (the Association of Chartered Certified Accountants) published this week. More in our full news item. [AL]
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IPSASB INITIATES ANNUAL IMPROVEMENTS PROGRAM WITH RELEASE OF NEW EXPOSURE DRAFT
01 July 2009
To enhance the usability of International Public Sector Accounting Standards (IPSASs) and thus facilitate global convergence, the International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) has launched an improvements project with the release of Exposure Draft (ED) 42, Improvements to IPSASs. This ED is the first of a proposed series of annual improvements to the IPSASs and is modeled on the successful annual improvements program developed by the International Accounting Standards Board (IASB). More in our full news item. [AL]
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CIPFA CALL FOR BETTER GOVERNANCE AND FINANCIAL MANAGEMENT IN UK PUBLIC SERVICES
01 July 2009
CIPFA is calling for a debate on improving governance and financial management in the UK public services. Their manifesto, Better Ideas, Better Public Services launched this week at the CIPFA annual conference, sets out our ideas for improving openness and decision-making in the public services. Read the manifesto and get further details in our full news item. [AL]
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ROLE OF THE PUBLIC SERVICE CFO REDEFINED IN NEW CIPFA REPORT
01 July 2009
A CIPFA report launched this week sets out five principles that define the core activities and behaviours belonging to the role of the Chief Financial Officer (CFO) in public service organisations, and the organisational arrangements needed to support them. Click through for more detail. [AL]
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UK PUBLIC SECTOR ORGANIZATIONS MUCH SLOWER THAN OTHER COUNTRIES IN MAKING RADICAL CHANGES NEEDED TO COPE WITH LOOMING PUBLIC SECTOR CRISIS, KPMG SURVEY REVEALS
01 July 2009
UK public sector organizations appear much slower than their counterparts in other developed countries in planning the radical changes needed in order to cope with the looming public sector recession, a global KPMG survey shows. The survey among 124 senior civil servants in six countries reveals that only 15% of British public sector bodies are planning to change their strategy for next year, compared to 70% of respondents from the US and 60% from Australia. Please click through for further details [AP].
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KPMG INDIRECT TAX UPDATE 2509
01 July 2009
KPMG has published its Indirect Tax Update 2509. Please click through to our full news article for the download link [AP].
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THE FINANCIAL REPORTING REVIEW PANEL WELCOMES IMPROVEMENTS IN IMPAIRMENT DISCLOSURES
01 July 2009
In December 2008 the Financial Reporting Review Panel wrote to 30 large companies advising them that the impairment disclosures in their next set of financial statements would be subject to review for compliance with IAS 36 “Impairment of assets”. The aim of the project was to stimulate improvements in disclosures about impairment and to test assumptions, given the high importance of this information to investors in current market conditions. Please click through for further details [AP].
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CREDIT CRISIS SPARKS FRANTIC REVIEW OF FINANCE FUNCTION BEST PRACTICE
01 July 2009
Improved forecasting, planning, budgeting and investor relations; just some of the areas in which many corporates now accept that their finance functions will have to improve their game in the wake of the credit crisis, according to a survey, "Thriving, not just Surviving”, undertaken by CFO Research Services for KPMG International. It shows that even in the early stages of the credit crisis, many businesses quickly realised that their finance functions had to improve their ability to challenge and support the business. Please click through for further comment [AP].
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SEC CHARGES FORMER CHIEF ACCOUNTING OFFICER OF BEAZER HOMES FOR FRAUDULENT EARNINGS MANAGEMENT SCHEME
01 July 2009
The Securities and Exchange Commission today charged the former chief accounting officer of Atlanta-based home builder Beazer Homes, USA, Inc., for conducting a multi-year fraudulent earnings management scheme and misleading Beazer's outside auditors and internal Beazer accountants in order to conceal his wrongdoing. The SEC alleges that Michael T. Rand of Sandy Springs, Ga., fraudulently decreased Beazer's reported net income by recording improper accounting reserves during certain periods between 2000 and 2005 in order to meet or exceed analysts' expectations for Beazer's diluted earnings per share (EPS) and maximize yearly officer and senior employee bonuses. Please click through for further details [AP].
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SEC PROPOSES MEASURES TO IMPROVE CORPORATE GOVERNANCE AND ENHANCE INVESTOR CONFIDENCE
01 July 2009
The Securities and Exchange Commission today voted on three measures that are intended to better inform and empower investors to improve corporate governance and help restore investor confidence. The Commission proposed requiring public companies receiving money from the Troubled Asset Relief Program (TARP) to provide a shareholder vote on executive pay in their proxy solicitations The Commission also voted to propose better disclosure of executive compensation at public companies in their proxy statements, and approved a New York Stock Exchange rule change to prohibit brokers from voting proxies in corporate elections without instructions from their customers. Please click through for further details [AP].
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Journal of the Month
Accounting, Auditing and Accountability Journal
SPECIAL OFFER! - Emerald is pleased to offer all users of AccountingEducation.com FREE access to selected articles from AAAJ. The journal, now in its 22nd volume, will publish eight issues in 2009, and at least one article from each issue will be freely accessible!
Latest addition - "Initiating sustainable development reporting: evidence from New Zealand" by Jan Bebbington, Colin Higgins and Bob Frame (AAAJ - Vol. 22 Iss. 4)
Access other articles from the 2008 and 2009 volumes here.
Course of the Week
[Advertise your courses here - email us for details]
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