Xinhua Finance, a financial information and media conglomerate in China, has agreed to acquire proxy researcher Glass Lewis & Co. for undisclosed terms.

Morrison, Brown, Argiz & Farra LLP announced that it has acquired the Miami-based practice of Freeman, Buczyner & Gero.FBG partners Alan Freeman and Jacqueline Gero will join as partners of MBAF, bringing with them their staff of about a dozen employees.

Two Jacksonville, Fla.-area practices, located just a mile away from each other, announced that they will merge in a deal effective Nov. 30.

Intuit Inc. continued stuffing its own holiday stocking on Thursday, announcing that it has inked a $142-million deal to acquire Electronic Clearing House Inc.

Protiviti Inc., a provider of technology risk consulting and internal audit services, announced that it has consolidated its public sector operations and that the new, wholly owned subsidiary had already made its first acquisition.

In a long-awaited move, the Financial Accounting Standards Board has proposed new accounting for mergers and acquisitions by not-for-profit organizations.Reflecting a proposed standard on for-profit business combinations, Not-for-Profit Organizations: Mergers and Acquisitions proposes the elimination of the pooling-of-interests method, the measurement of assets and liabilities at fair value, and the recognition of goodwill upon initial recognition of another entity, be it for-profit or not-for-profit.

Philadelphia’s H.R. Margolis Co. and Washington-area Becker & Co. PC announced that they will merge to form MargolisBecker.

Mayer Hoffman McCann had expanded its presence again in Maryland, with the acquisition of the 14-employee Riggleman Smyth Accounting Services LLC.Financial terms of the deal were not disclosed, though Riggleman Smyth’s partners were admitted as shareholders in Mayer Hoffman.

Accounting firm Cannon Wright Blount PLLC has purchased the Poulin Group PC, its second acquisition in less than four months.

In a grab for its share of the exploding Web-based banking market, QuickBooks parent Intuit Inc. agreed to acquire online banking services provider Digital Insight Inc. for $1.35 billion via a combination of cash and debt.Under the terms of the deal, which is expected to close during the first quarter of 2007, Intuit will tender $39 in cash for each share of Calabasas, Calif.-based Digital Insight -- roughly 18 percent over the company’s closing share price of $33 prior to the announcement. Intuit will also assume about $1 billion in debt financing.

San Diego-area accounting firm Peterson & Co. LLP announced that it will merge into Newport Beach, Calif.-based Squar, Milner, Miranda & Williamson LLP.Financial terms of the deal were not disclosed. The combined firm will operate under the name Squar, Milner, Peterson, Miranda & Williamson LLP.

ADP Employer Services, a division of Automatic Data Processing Inc., announced that it has completed its acquisition of Taxware LP from First Data Corp.

The two organizations that police stock brokers and others working in the securities industry will form a new, single self-regulatory body.

Westwood, Mass.-based accounting firm Gray, Gray & Gray LLP will acquire the Norwood, Mass. practice of Clark R. Rattet & Associates PC.

A regional accounting firm recently announced that it sold its financial outsourcing solutions practice to another accounting firm. The outsourcing group provides internal auditing and compliance services, primarily to financial institutions. A stated reason for the sale was that independence regulations restrict many companies from using the same accounting firm to provide both external audit and internal audit services, and the growth of the group was limited in the regional firm by these restrictions given the firm’s growing number of financial institution audit clients. I wonder what else influenced the sale, and if the sale is indicative of a trend of divestment of practice areas by accounting firms? As more and more firms establish affiliates and specialized practice groups, it would make sense that firms would continue to evaluate their profitability and whether it pays to divest. Businesses are constantly evaluating their units, so why shouldn’t accounting firms? Am I talking about apples and oranges, as most firms are looking to recruit and retain staff? Maybe, but I think firms, especially the larger ones, are increasingly applying a corporate business philosophy to how they operate. There are consultants that match up firms for mergers, so why can’t these consultants also act as the brokers for a transfer of a firm’s practice group or affiliate? You also might see more firms being broken up more by practice areas, with the staff from each practice area joining different firms because of the greater value that can be obtained in contrast with the dissolving firm merging with one firm. The accounting firm is an evolving business model. Consolidators, technology, independence requirements, and globalization are just a few of the factors driving the changes that influence firms differently, often by the size and location of the firm, as well as by the competition the firm is up against. Some firms are being very creative and thinking outside the box so why shouldn’t firms, when appropriate, consider and explore all available options?

After working with Anchorage-based Dudley Consulting on accounting software projects for the past decade, CPA firm Finley & Cook announced the two businesses will merge.

Accounting firm Elliott Davis LLC has acquired the Galax, Va.-based practice of Larrowe and Co. PLC.Financial terms of the deal, which became effective Nov. 17, were not disclosed.

CCH, a Wolters Kluwer business, announced the creation of a new Small Firm Services group, which will comprise the employees, services and products of two recently-acquired businesses.The formation of the entity follows the August and September deals for tax-prep software suppliers ATX/Kleinrock and TaxWise.

Thomson Tax & Accounting, a unit of Thomson Corp., announced that it has acquired Scottsdale, Ariz.-based ePropertyTax Inc. -- a business that offers a range of property tax solutions by licensing its proprietary software to outsourcing compliance services.

McGladrey & Pullen LLP announced that it has acquired Chicago-based CPA firm Altschuler, Melvoin and Glasser LLP.AM&G previously had an alternative practice structure with American Express Tax and Business Services, which was acquired by RSM McGladrey in October 2005.