PwC investigation reveals how fake transactions artificially inflated Steinhoff’s profit by $200m
One particular fraud was perpetrated through a contribution of $162m from one Steinhoff subsidiary, SEAG Austria, to another, Mattress Firm, referred to throughout the investigation as MFRM.
The New York Times28d
How to Create a Multimedia Digital Journal of Your Life
Consider keeping a journal, which studies have shown might help with one’s mental well-being and anxiety issues, while also providing a creative outlet for personal expression. Handsome paper ...
The accounting industry's CPA shortage may be more complicated than it seems
The industry trade group AICPA reviewed the study by Sutherland as part of its overall assessment on accounting talent and ...
Accounting Today26d
PCAOB puts focus on journal entries
The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. The publication, Audit Focus: Journal Entries, noted that ...
JournalofAccountancy7d
Report: Undergraduate enrollment in accounting on the rise
Undergraduate enrollment in college accounting programs increased during the fall semester to its highest level in four years, a 12% increase from the previous fall based on National Student ...
Wall Street Journal5d
Europe Is Looking to Roll Back Climate Accounting Rules
The European Commission is reviewing elements of its flagship Green Deal environmental policy, as worries over rising costs and a lack of competitiveness with China and the U.S. grow within the ...
JournalofAccountancy21d
FASB proposes series of changes to accounting standards
FASB is seeking feedback on a proposed Accounting Standards Update (ASU) that addresses 34 issues in its codification. The "targeted improvements" to the FASB Accounting Standards Codification are a ...
Post and Courier14d
SC state treasurer says he won't resign, denounces 'witch hunt' over $1.8 billion accounting error
"And when they find out none of that happened, that this is (about) an accounting entry, they're outraged ... injuries on the front page of the paper instead of finding out exactly what happened ...
Investopedia4d
What Are the Types of Costs in Cost Accounting?
Cost accounting is a process that measures all of the expenses associated with running a business, including both fixed and variable costs. The results help management make decisions that optimize ...
Wall Street Journal22d
KPMG Wants to Be the First Accounting Giant to Own a U.S. Law Firm. Here’s Why.
KPMG is poised to break through a longtime barrier and become the first Big Four accounting firm to practice law in the U.S., leveraging a novel Arizona program that allows nonlawyers to own law ...
Post and Courier27d
Impeachment and investigation calls bubble against SC Treasurer Curtis Loftis amid SEC investigation
COLUMBIA — Lawmaker calls for a deeper investigation into S.C. Treasurer Curtis Loftis' role in a $1.8 billion accounting error are growing after an audit into the ...