Feb 26 (Reuters) - Eddie Stobart warned of an annual loss after posting a half-yearly operating loss on Wednesday, hit by accounting-related issues that have delayed its interim results for months, and said it had taken an impairment charge of 169.2 million pounds ($219.86 million).
The haulier, known for its green and red trucks, said underlying operating loss for the six months ended May 2019, was 11.6 million pounds compared to a restated profit of 600,000 pounds a year earlier.
Other things to check out:
In 2019 Total Revenues from Streaming Music grew 20% to $8.8 billion, accounting for nearly 80%
RIAA's Chairman & CEO Mitch Glazier noted in his report that with today's release of the RIAA's full-year 2019 revenue report for U.S. recorded music, two things are abundantly clear:
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Driven by paid streaming, U.S. recorded music revenues grew by 13 percent to $11.1 billion in 2019, at estimated retail value. Total revenues from streaming grew 20% to $8.8 billion, accounting for nearly 80% of all recorded music revenues.
Metro Bank plummets to £131m loss after 2019 accounting debacle - CityAM : CityAM
Metro Bank plunged to a £130.8m pre-tax loss for 2019 today after a devastating year in which an accounting scandal sent shares plunging and led to an exodus of the bank's top brass.
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That meant investors booked a loss per share of 123.9p, compared to 2018's 29.1p earning per share.
While net fee income rose 43 per cent, driven by customer growth, net interest income dropped seven per cent to £308.1m. That was due to a weak net interest margin of 1.51 per cent compared to 1.81 per cent last year.
New GASB standard addresses lease accounting, OPEB, other issues - Journal of Accountancy
Issues for state and local governments related to lease accounting, other post-employment benefits (OPEB), and other topics were addressed Wednesday in an omnibus standard issued by GASB.
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A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.
Many things are taking place:
AICPA and NASBA sign mutual recognition pact with South African accountants | Accounting Today
The deal provides a pathway for South African Chartered Accountants and U.S. CPAs to have their credentials recognized in both their countries.
Under the terms of the agreement, the pact will facilitate the reciprocal recognition of the South African CA(SA) designation and the U.S. CPA license. It will also increase the mobility of professionals to facilitate growth of the profession in both the U.S. and South Africa.
The NASBA/AICPA International Qualifications Appraisal Board (IQAB) worked with the South African Institute of Chartered Accountants to establish this pathway for those holding the CPA license and CA(SA) designation. The IQAB surveys and assesses professional practice standards and qualifications in specified countries and recommends the feasibility of recognition of credentialed non-U.S. professionals.
Case studies in forensic accounting | Accounting Today
In forensic accounting, accountants and lawyers may be close partners; and in fact, attorneys are often the reason accountants enter the field of forensic accounting to begin with. All three accountants featured in these case studies found their way into the field through an attorney who needed help with a particular case. The rest, as they say, is history.
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Defining forensic accounting: Michael Plude came into his career as a forensic accountant in a circuitous way. He started out in industry working as an assistant controller for a manufacturing company. Wanting to advance up the ladder, he obtained his MBA, and then, after a push from management, his CPA and state board license. But after the company was sold, he found himself in public accounting after all, having resisted the pull since graduation.
Finance and Accounting BPO Market – New Business Opportunities and Investment Research Report
The market intelligence report on Finance and Accounting BPO market is prepared through diligent compilation of analytical study based on historical records, current and upcoming statistics and future developments. The intelligence report prepared contains details on the leading players of the Global Finance and Accounting BPO Market, along with various depending aspects related and associated with the market.
Synopsis of Finance and Accounting BPO Market Report:
The report covers an analysis of the Finance and Accounting BPO Market and the forecast for the same on a global and regional level, including a deep analysis of microeconomic and macroeconomic factors impacting the growth of the market.
Harnessing lease accounting centers of excellence | Accounting Today
ASC 842, the new lease accounting standard, was adopted by most public companies at the start of 2019. Called by some experts "the biggest accounting change ever," the new leasing standards are moving trillions of dollars of leases onto corporate balance sheets and require significant changes to accounting systems, business processes and financial controls.
The new requirements have been no small undertaking, and a deep level of technical accounting expertise is required to apply the standards, which are documented in guides numbering over 1,000 pages in length and result in over 100 billion different possible use cases.
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