KPMG partners hit as profits fall 13pc The big four accountant saw profit last year fall across UK and Europe as flat revenues in key areas such as audit and tax were exacerbated by increased costs. European profit was down from €913m (£743m) to €868m. The accountant described the result as “a creditable performance in tough market conditions” but warned of further job cuts. [Telegraph]
Ezra Klein has the details of a fiscal cliff deal. [Wonkblog/WaPo]
Diamond Foods Swings to 1st-Quarter Loss on Charges Related to Accounting Scandal, Restatements [Dow Jones]
ICYMI: You can rest easy – accountants are more trusted advisors than bankers. [Accountancy Age]
Five Holiday Don'ts at the Office "The person who is vocally sour grapes about a drink policy or the timing just drives everybody crazy," says Art Papas, chief executive and co-founder of Bullhorn, a Boston recruiting-software firm. Several years ago Mr. Papas overheard one of his then-employees talking trash about the venue of the holiday party—it was at a restaurant rather than a swanky bar. "That makes management's blood boil," he says. "It's like a child complaining about their gift at Christmas." [WSJ]
Lona Nallengara is your acting director for the SEC's Division of Corporate Finance. [SEC]
AICPA biggest wig Barry Melancon, CPA, CGMA gets out his crystal ball for 2013. [AICPA]
Can't Think of a Good Holiday Gift? Give a Bad One [Psychology Today via TBP]
Massachusetts Fines Morgan Stanley $5 Million Over Facebook IPO [WSJ]
