Low interest rates could spur more U.S. finance chiefs to overhaul how they account for pensions in their financial statements, a move that could prevent increased plan liabilities from weighing on earnings per share, pension experts say.
The decline in interest rates for high-quality corporate bonds has caused companies' pension-plan obligations to grow and offset their returns on plan assets. If a company's total pension expenses were to rise significantly, CFOs might be motivated to switch to an accounting method that helps put a substantial loss behind them rather than amortizing it over several years, said Dan Mahoney, an analyst at CFRA LLC, a New York-based investment-research firm.
Not to change the topic here:
Accounting Firm Ransomware Hack Affects Community Care Patient Data
February 26, 2020 - New York-based accounting firm BST was recently infected with Maze malware, which potentially compromised patient data from Community Care Physicians.
An investigation, led with assistance from a third-party forensics firm, determined the infection lasted for three days between December 4 and December 7. BST was able to restore the affected data from backups, while maintaining the integrity of the files.
Pathways to Growth: Innovation is essential, but not enough | Accounting Today
The role of innovation in our profession is unquestioned. It is widely accepted that new offerings, especially those that are technology-based, are critical not just for growth, but for an accounting firm's very survival. I hear a chorus of managing partners ask in unison, "How are we going to incorporate blockchain, artificial intelligence and cybersecurity into our offerings?"
While innovation is the engine, it's just one component of the three elements of growth strategies needed to stay relevant and profitable. Using a favorite, under-the-sea analogy, I characterize innovation as the bait — the tasty bits you use to attract the fish you want to catch. But who are those fish and where are they gathering? These are the other two elements of strategy.
Accounting for Net Worth of Trump, Clintons and Obamas - FactCheck.org
A meme circulating on Facebook claims without evidence that Hillary Clinton has made $95.5 million since she ran for president in 2016, and falsely implies that she and former President Barack Obama enriched themselves by "steal[ing] your money."
A meme circulating on Facebook compares what it claims to be the net worth of President Donald Trump, former President Barack Obama, and former presidential candidate Hillary Clinton before and after they ran for president.
Many things are taking place:
Tupperware Stock Is Plunging Because an Accounting Probe Will Delay Earnings -
Tupperware Brands stock shed over 40% of its value in Tuesday trading after the maker of sealable food containers and other household goods said it is conducting an accounting investigation .
Tupperware (ticker: TUP) is delaying reporting fiscal 2019 earnings as it probes "the accounting for accounts payable and accrued liabilities at its Fuller Mexico beauty business," according to a company statement released late Monday. Total impairments for Fuller Mexico "are expected to be approximately $31 million. The total pre-tax impact for 2019 is approximately $50-52 million." Its fiscal year ended Dec. 28.
LIBOR Accounting Changes Should Take Effect in 2021: Board
Accounting changes driven by the move to new benchmark interest rates should apply from the beginning of 2021, the International Accounting Standards Board said.
Cybersecurity: Staying vigilant and safe | Accounting Today
Desktops, laptops, tablets and smartphones all offer capabilities that accountants could only dream about in past years. But those capabilities come at a price. Breaches, data theft, viruses and ransomware all come along with the benefits. Cybersecurity — keeping your data and that of your clients safe — has to be a concern, and one that has to be continuously addressed as more and more vulnerabilities are discovered and new threats continue to emerge.
Without proper precautions, it's almost inevitable that you'll get burned. And as attacks get ever more sophisticated, the precautions you have to take need to be more sophisticated, too.
UPDATE 1-Haulier Eddie Stobart takes 170 mln pound charge after accounting row -
Feb 26 (Reuters) - UK haulier Eddie Stobart took a 169 million pounds charge in its half-year results on Wednesday and racked up operating and pre-tax losses as it took its first steps to move past a damaging accounting scandal.
The company, whose green and red trucks are a fixture on British motorways, had delayed its interim results for months causing shares to be suspended last August following the uncovering of mistakes in its 2018 accounts.
No comments:
Post a Comment