Wednesday, October 27, 2021

Luckin Coffee Agrees to Settle Accounting Fraud Claims For $175M

Lawyers for the shareholders called the all-cash settlement, filed on Monday night, an “excellent result,” citing Luckin’s liquidation proceeding in the Cayman Islands and its related filing for protection under the U.S. Bankruptcy Code.

The accord also covers Luckin officials, and underwriters of the Xiamen, China-based company’s $645 million initial public offering in 2019 and a later offering of American depositary shares.

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Publisher: Claims Journal
Date: 2021-10-27T05:00:26 00:00
Twitter: @cjournal
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5 forces remaking accounting | MIT Sloan

For years, the accounting industry has been viewed as a time-honored practice whose core responsibility is to help businesses maintain accurate and timely records of their finances.

But as a host of emerging technological and societal trends continue to have a bigger effect on the industry, accountants are playing new roles in helping companies track and report their finances.

Publisher: MIT Sloan
Twitter: @MITSloan
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Bitcoin ETFs Can Help Improve Crypto Accounting

The launching of the first ever bitcoin exchange traded fund (ETF) in the United States has made headlines, and is indicative of the increasingly mainstream nature of crypto from a legal and regulatory perspective.

Accounting might not always make the buzziest or most exciting headlines, but is absolutely essential for individuals and institutions seeking to fully integrate crypto into everyday transactions.

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Publisher: Forbes
Date: 2021-10-25
Author: Sean Stein Smith
Twitter: @forbes
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Cornell College Announces new partnership with the Master of Accounting Program at William &

Newswise — MOUNT VERNON, Iowa - Cornell College is proud to announce a new partnership with the Master of Accounting (MAcc) Program at William & Mary’s Raymond A. Mason School of Business.

“We are excited to partner with Cornell College and offer undergraduate students the opportunity to continue their education through our Master of Accounting program,” said Mason School Dean Larry Pulley.

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Luckin Coffee in $175 mln class action settlement over accounting fraud | Reuters

Lawyers for the shareholders called the all-cash settlement, filed on Monday night, an "excellent result," citing Luckin's liquidation proceeding in the Cayman Islands and its related filing for protection under the U.S. Bankruptcy Code.

The accord also covers Luckin officials, and underwriters of the Xiamen, China-based company's $645 million initial public offering in 2019 and a later offering of American depositary shares.

Publisher: Reuters
Date: 2021-10-26T18:01:04Z
Author: Jonathan Stempel
Twitter: @Reuters
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2022 dates, location announced for Scaling New Heights | Accounting Today

Woodard Events announced that next year's Scaling New Heights conference will be held June 19-22, 2022, in Orlando, Florida.

SNH is one of the leading accounting technology conferences in the country, as well as one of the largest gatherings of QuickBooks Pro Advisors. The theme of next year's event is "Thrive," and it is expected to include a keynote by investor and entrepreneur Kim Perrell.

Publisher: Accounting Today
Date: 2021-10-27T18:43:44.112
Author: https www accountingtoday com author daniel hood
Twitter: @AccountingToday
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Accounting firm's new vision focuses on innovative client solutions, employee culture -

I'm thrilled to announce that Abdo, Eick & Meyers is now Abdo. But for us, this is so much more than just a new name. In a world of ever-changing complexity, people need caring, empathetic and highly skilled professionals they can depend on to provide the right advice and solutions for them.

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Publisher: Minneapolis / St. Paul Business Journal
Author: 42586
Twitter: @mspbjnews
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Private equity investing in accounting firms, and accountants are wary | Crain's Chicago

Christopher Geier is an unusual CEO for an auditing firm. He isn't a CPA. Geier, who majored in criminal justice in college and later ran a turnaround consulting firm, was hired by Sikich in 2008 to start an investment bank.

That shift is leading to another watershed for the accounting industry. Private-equity firms are circling and beginning to invest, attracted by the twin sirens of accountancy's steady returns and by higher margins on the faster-growing consulting side.

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Publisher: Crain's Chicago Business
Date: 2021-10-20T12:44:20-05:00
Author: https www facebook com
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Best online accounting degrees 2021: Top picks | ZDNet

Accountants and auditors prepare financial statements, review accounting documents to identify fraud, and recommend tax strategies to clients. An online accounting degree helps graduates launch their careers.

Our guide to the best online accounting programs draws on reputable sources to help prospective students make an informed choice about their future.

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Publisher: ZDNet
Author: Genevieve Carlton
Twitter: @ZDNet
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City Council denies request for CHEDA accounting review

Crookston City Council denied a request from city staff at this week's meeting for a financial accounting review of Crookston Housing & Economic Development Authority.

The resolution called for Abdo, Eick & Myers LLP to complete an accounting review and to provide a report of the findings and recommendations.

Publisher: Crookston Daily Times
Author: Jess Bengtson
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