Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Bad Projection at Walgreen; More Trouble for Hertz; A Threat to Coffee | 08.20.14

Walgreen Shakeup Followed Bad Projection [WSJ]
Oops: "Wade Miquelon forecast $8.5 billion in fiscal 2016 pharmacy-unit earnings, based partly on contracts to sell drugs under Medicare. Last month, directors got a shock. Mr. Miquelon suddenly cut that forecast by $1.1 billion."

Hertz withdraws full-year forecast, cites accounting review, challenges [Reuters]
The company still hasn't issued its Q1 results and now Q2 may also be delayed.

Overstock to Allow International Customers to Pay in Bitcoin [DealBook
Patrick Byrne, everyone: "I know that’s it’s become part of the Bitcoin lore in the United States to shop on Overstock. My hope is that would happen at a global level.”

SEC will scrutinize municipal advisers’ rules compliance [JofA]
For anyone in the government space: "CPAs and others who provide certain advice to municipalities—including tax advice on municipal securities offerings—are required to register as municipal advisers under the new rules."

The Future Of Coffee Looks Bitter And Pricey, Courtesy Of Climate Change [FC]
The tree responsible for 70% of the world's coffee supply is in danger.
Cops: Woman Beat Man, 64, Over Gas Passing [TSG]
Surprising that this doesn't happen more often: "According to a police report, Jessica Cerney, 33, was laying on the couch in a Myrtle Beach residence when Darrell McKnight “came into the house intoxicated and ‘passed gas’ in her face.” Cerney […] told police that she left the home to get away from McKnight, but said that he followed her outside. As the two argued over the incident, Cerney said, the cursing McKnight approached her in a “threatening manner.” Cerney said that when McKnight bent down, she “struck him in the face approximately three times with a closed fist.” The blows left McKnight with a swollen right eye, for which he subsequently received treatment at a local hospital. Cerney, who was not drunk, did not suffer any injuries during the confrontation."


Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]