Audit & Accounting

The Ohio Society of CPAs has launched a free online job-listing service to connect businesses with contract CPAs during the recession.

The Financial Accounting Standards Board plans to provide two different views of its new online FASB Accounting Standards Codification when it launches July 1.

Ernst & Young has agreed to a record-setting $109 million nationwide settlement for failing to uncover the financial problems at health care giant HealthSouth.

IMGCAP(1)] Don’t pretend that your practice’s Web site is a minor obligation to be thrown together and slapped up on the Internet never to be dealt with again. As the populous becomes increasingly Internet savvy, so too does the accounting profession. Proper Web site design does not require a lot of money, but it does require smart construction. Here are some things to keep in mind:

The Financial Accounting Standards Board has issued new standards aimed at fixing the way banks account for securitizations and off-balance-sheet special-purpose entities.

The International Accounting Standards Board is readying new revisions to its standards for accounting for impaired assets in response to pressure from European regulators who have threatened to upset support for International Financial Reporting Standards.

My academic career predates the "sky is falling" period that beganin the fall of 2008. I find myself wondering how to reconcile theevents in that short span of time to the common body of knowledgepreviously embraced. In particular, I am increasingly curious as to howthose responsible for filing, auditing, exercising oversight andinvesting in today's market setting answer a small set of queries.

Washington D.C. –President Obama is expected to outlinenext week a proposal for a financial regulatory overhaul, a revamp designed toboth bolster investor protection while streamlining the current structure.

Oldwick, N.J. - A new report from global rating agencyA.M. Best said that the mark-to-market guidance recently adopted by theFinancial Accounting Standards Board would not impact the balance sheets ofinsurance companies despite claims to the contrary by the those in the capitalmarkets sector.

I have a friend with an accounting degree and a law degree whocomplained about the length and complexity of the annual reports,including those of General Electric (108 pages), Citigroup (242 pages),Warner Music Group (142 pages), Pfizer (170 pages) and Bank of America(192 pages).