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September 30, 2023

Accounting News Roundup: Tesco’s Bad Year; Freshening Up Nonprofit Accounting; Journalist Charged in PwC LuxLeaks Case | 04.23.15

Deutsche Bank to Pay $2.5 Billion Fine to Settle Rate-Rigging Case [DealBook]
U.S. and British authorities also ordered DB to fire seven employees who were still working for the bank.

Tesco Caps Tumultuous Year With Huge Loss [WSJ]
A £6.38 billion ($9.52 billion) loss to be precise. 

FASB Proposes Major Changes in Nonprofit Accounting [AT]
It's been 20 years; timing seems right.

French Journalist Perrin Charged Over PwC LuxLeaks Role [Bloomberg]
"Edouard Perrin appeared before a Luxembourg judge Thursday and after a hearing was charged for his role as a 'co-author, if not an accomplice, in the infractions committed by a former employee of PwC,' prosecutors said in an e-mailed statement."

High School Students, Doing Their Teacher’s Taxes [Motherlode/NYT]
A teacher in Portland decided to work tax preparation into her curriculum. The students took to it.

Can Your Relationship Handle a Trip to IKEA? [WSJ]
This is a real problem. "In therapy, so many couples mention fighting while shopping at IKEA or while assembling what they buy there that clinical psychologist Ramani Durvasula has started embracing the retailer as a tool for a communications exercise. The Santa Monica, Calif., therapist often tasks couples with putting together a large piece of furniture at home and reporting back on how it went. […] 'The store literally becomes a map of a relationship nightmare,' she says. Walking through the kitchens brings up touchy subjects, like who does most of the cooking. Then you get to the children’s section, which opens up another set of issues. And that’s before you’ve even tried assembling anything."

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