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Accounting News Roundup: Romney’s Tax Plan: Yes It Can!; Occupy Returns; Yao Ming’s Latest Move | 08.29.12

U.S. Firms Move Abroad to Cut Taxes [WSJ]
Companies cite various reasons for moving, including expanding their operations and their geographic reach. But tax bills remain a primary concern. A few cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit.

Romney's Tax Plan Can Raise Revenue [WSJ]
More debunking from the Journal editorial page.
Leave Public Accounting after 3 to 6 Years, Says Research [AT]
The report notes that it is important to consider and prepare for leaving the public sector at the right time, because “…as time goes on, you get diminishing returns, and you become less marketable as you pass the sweet spot of the Big Four,” according to an unnamed source for the report. 
Still in flux: Future of IFRS in U.S. remains unclear after SEC report [JofA]

[T]he ultimate decision on IFRS rests with the five SEC commissioners. Experts and observers said that with the upcoming U.S. presidential election in November, it is clear after the report’s release that the SEC will not decide on IFRS until at least the beginning of next year, and perhaps later. “I can’t see a decision in less than a year,” Xerox Vice President and Chief Accounting Officer Gary Kabureck said in July.

ZAGG Conference Call Raises More Questions than Answers about Pedersen's Resignation [WCF]
And Sam Antar asks a few.

Occupy Sets Wall Street Tie-Up As Protesters Face Burnout [Bloomberg]
Planning for the Sept. 17 protest, dubbed S17, follows months of internal debate and flagging interest, according to interviews with organizers. The morning action may include attempts to make citizens’ arrests of bankers, and some activists intend to bring handcuffs, they said. “We are here to bring you to justice,” said Sean McKeown, a 32-year-old chemist and New York University graduate who’s helping organize the demonstration. “We’re offering you the chance to repent for your sins.”
Yao Ming’s Move Into Private Equity Won’t Be a Slam Dunk [PEB/WSJ]
“One thing famous sports and music figures bring to a private equity firm is brand awareness, which certainly cannot hurt fundraising,” said Bruno Roy, managing partner of McKinsey & Co.’s office in Beijing. “Everyone will take a meeting with Bono, Steve Young and Yao Ming.”

Essex Lion Search: British Police Call Off Hunt For Supposed Cat On The Loose [AP]
Police said Monday that they've found no evidence to support area residents' claims that they'd spotted a big cat prowling the countryside near the idyllic village of St. Osyth, in the southeastern English county of Essex. Sunday's reported sightings alarmed many of the village's 4,000 people, and authorities sent about 40 officers, tranquilizer-toting zoo experts, and a pair of heat-seeking helicopters to the area in an effort to find the beast. But a police spokeswoman said that, after an extensive search, "we've found no evidence" of a lion. The creature spotted Sunday night may have been a large domestic cat or a wildcat, she added.


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