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September 29, 2023

Accounting News Roundup: PwC Stays on Message; Happy International Accounting Day; Tearing Down the Pyramid | 11.10.14

American Realty Capital Accounting Errors Tied to Employee Bonuses [WSJ]
After many of you all had sprung for the weekend, this came out: "The mistake stemmed from computing bonuses, said former Pennsylvania Gov. Edward Rendell, who has served as an independent director of the company since February 2013 and sits on its audit committee. The results were 'incorrect because [executives] fudged something about bonuses to cover up a prior mistake.' "

SEC Demurs on Beneficial Reporting Rules Changes [CFOJ]
Another after-everyone-went-home story from Friday: "U.S. regulators are being pressed by advocate groups and some corporate executives to give companies more information about who owns their stock. The National Investor Relations Institute in 2011 asked the SEC to speed up and bolster ownership reporting requirements, even for short interest positions."

“Everything was legal” says PwC chief [Luxemburger Wort]
This is their story and they're sticking to it. "These documents were illegally obtained," said [PwC Luxembourg MP] Didier Mouget in a press conference on Thursday, adding: "This is a criminal matter and we filed a complaint more than two years ago."

If someone has extra "I heart IFRSs" mugs, please email us for a shipping address.

How to Rebuild Your Pyramid [MACPA
Mega-disruptor Tom Hood writes that the 5 major shifts in accounting are: Leadership, Learning Technology Generations Workplace. "Despite these 'shifts,' many partners in firms are making more money than ever primarily by working many more hours (the curse of the billable hour) and doing more manager-level work. The managers are doing lower-level work and not learning the skills they will need to be partners. And it gets pushed down from there, flattening the pyramid or, even worse, inverting it."

Are You Watching Too Much Football? [WSJ]
Yes. Yes, you are.

Accountant's 1,600 selfies in all four corners of the globe – and he sold everything to do it [Telegraph]
You could be doing this instead of watching football.


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