Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Obama Blames Accountants; Accounting Makes it Rain; The Accounting Rule You Don’t Care About | 08.07.14

Accounting is most profitable industry, study shows [Chicago Tribune]
Here's something that's probably not a surprise to many: An industry all about crunching numbers is also the most profitable. And 7 of the 15 most profitable industries are related to health care or real estate, according to newly released data. Sageworks, a Raleigh, N.C.-based collector of financial data from private companies, ranked all industries by profit margin over the past year and found that accounting, tax preparation, bookkeeping and payroll services topped the list, at 19.8 percent.

Obama Blames Accountants for Inversion Trend [AT]
During a press conference Wednesday following a summit with African leaders, Obama said, “You have accountants going to some big corporations—multinational corporations but that are clearly U.S.-based and have the bulk of their operations in the United States—and these accountants are saying, you know what, we found a great loophole—if you just flip your citizenship to another country, even though it’s just a paper transaction, we think we can get you out of paying a whole bunch of taxes.”

Ready or Not (And You're Probably Not) Lease Accounting Changes Are Coming [GlobeSt]
Like you give a shit.

Lawyer Disbarred After Claiming Accountant Was Secret Agent [Connecticut Law Tribune]
Sorry, source is subscription. But headline is LOL.

How You Can Become 'Super Accountant' [AWeb]
What do your clients consider a good accountant? Someone who keeps their checks and balances in line? Someone who puts them on the path out of debt? Or maybe just someone that keeps the IRS out of their lives? Whatever their definition—or your definition—may be, there's always more you can do for your clients.

The Muddled Road to Overhauling Corporate Taxes [NYT]
Every loophole has its lover. That’s why, despite the furor that has erupted over American companies adopting foreign headquarters to reduce their taxes, it is proving so difficult to fix a corporate tax system that most everyone agrees is badly broken.

The Strange, Sad Story of the Army's New Billion-Dollar Camo Pattern [Gizmodo]
You might be in the wrong line of work.

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

cute little dogs

Monday Morning Accounting News Brief: Bad Audit Haunts EY; Big 4 RTO in India; Why Can’t PwC Hire?? | 3.20.23

Hello and happy Monday. Or just Monday, I’m not here to force emotional responses. Here are a few things going on in our little corner of the world. From Forbes’ America’s Best Management Consulting Firms: For the second year in a row, both Bain & Company and Deloitte were the most-recommended consultancies, with star ratings […]

dog with pink heart glasses

Friday Footnotes: An Outsourcing Shortage Now Too?; Finally, Some Disruption; PwC Haters Celebrate Government Inquiry | 3.17.23

There’s a lot happening this week. Which YAY because hooooo boy can it get boring around here when there isn’t. First things first, check out what the AICPA is working on and when you’ve had a chance to review their idea, reach out with your feedback if you want. Comments are closed on Footnotes because […]