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December 1, 2022

Accounting News Roundup: Wanted: Accounting Professors and More on GE’s Deal With PwC | 01.23.17

Wanted: Accounting Professors

Here's a report in the Daily Illini, the student newspaper of the University of Illinois, that says the school has approved the hire of three new accounting professors, but also mentions that the accounting department "usually sees two or three departures per year." Jon Davis, the head of the department said that the supply of accounting professors is pretty bad: "In any given year, he said, there may be 10 or 12 qualified prospects available worldwide and 20 schools that want to hire them."

GE and PwC

On Friday, we got a little update on the deal that will send over 600 tax professionals from General Electric to PwC. The Wall Street Journal's Vipal Monga reported that GE will "also get a slice of the revenue the deal generates for PwC," according to the Jeffrey Bornstein, the company's CFO. The size of that slice is unknown, but Bornstein says that migrating the staff to PwC will save GE $100 million. Also, they won't "waste the large suite of proprietary accounting technology it had created." So that's nice.

Has Donald Trump released his tax returns?

Nope! And hey look, there's a petition with over 250,000 signatures requesting that he release them. Oh, and hey look again, here's Senior Advisor Kellyanne Conway's response, saying, "The White House response is that he’s not going to release his tax returns." Oh, and hey look just one more time, here's WikiLeaks saying that this broken promise is "more gratuitous than Clinton concealing her Goldman Sachs transcripts" and asking for people to leak the tax returns. This is…[counting on fingers] all in the first three days!

Previously, on Going Concern…

I wrote about a CPA accused of threatening former President Obama's life. Yikes.

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