Well, it's official, ParenteBeard is no more. The merger was effective October 1, and Baker […]
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Yes, Baker Tilly. We believe in equal opportunity kvetching when it comes to public accounting […]
We were tipped to this about two weeks ago but unfortunately our tipster failed to […]
ParenteBeard, the largest accounting firm based in Philadelphia with nearly 1,000 partners and staff in […]
This is quite the impressive move by Bravo Delta Oscar. The firm issued this press […]
Joe DiStefano has nice scoop over at PhillyDeals about twelve ParenteBeard partners packing it in […]
ParenteBeard, the 23rd largest CPA firm on the whole damn planet, issued the following press […]
Accounting News Roundup: Finance Bill Passes Senate, Reconciliation with House Next; Dubai World Reaches Deal with Majority of Creditors; ParenteBeard Announces Emerging Growth Business Practice | 05.21.10
Senate Passes Finance Bill [WSJ]
All this fun Wall St. has been having – drawing populist rage, testifying before Congress – will be ending soon, sayeth Majority Leader Harry Reid (D-NV), “When this bill becomes law, the joyride on Wall Street will come to a screeching halt.” The Senate bill still has to be reconciled in with the House version before being sent to the President; the goal is to have the combined bill completed by the end of June.
Dubai creditors agree $14.4bn deal [Accountancy Age]
Deloitte’s restructuring magician, Aidan Burkett, has pulled a rabbit out of his hat for Dubai World. DW has come to an agreement with 60% of its creditors, that will see the conglomerate repay $14.4 billion, in two tranches, over thirteen years.
Opportunities Abound in Tax and Accounting [FINS]
As the economy recovers, the accounting firms have more opportunities in the tax and advisory areas while in the governmental world, the Federal Reserve, FBI and FDIC are looking for accounting professionals. Options are good.
John Burton, a Columbia Dean, Dies at 77 [NYT]
Mr Burton was the first chief accountant of the SEC where he “stiffened the requirements for financial reporting by companies and lobbied accounting firms to take greater responsibility for the accuracy and clarity of the financial records under their review.”
And regarding the accountant’s “undervalued” role in society (largely unchanged today), Mr Burton wrote that accountants had only themselves to blame:
Mr. Burton wrote an essay for The New York Times in which he argued that, yes, accountants were undervalued in society, but that in many ways they were themselves to blame for a lack of creativity and for not seizing opportunities to influence business trends and political decisions.
“Accountants are not primarily record keepers and checkers,” he wrote in the essay, titled “Where Are the Angry Young C.P.A.’s?,” “but measurers of economic and social phenomena whose measurements can significantly influence the allocation decisions of our society.”
ParenteBeard Launches Emerging Growth Business Services Practice [ParenteBeard PR]
Mid Atlantic firm ParenteBeard’s new Emerging Growth Business Services Practice will serve clients in various growth stages utilizing the firm’s resources in “audit and accounting, small business, tax, international tax, SEC and business advisory [services].”
We know you’ve been anticipating the new name of the merged firm of Parente Randolph and Beard Miller like it was the most recent offspring of Bragelina and we’re happy to report that the two Pennsylvania firms have finally made their decision.
The new firm, which was officially born on October 1st, will be known as ParenteBeard, LLC. Sadly, we were pulling for simply “Beard”, if for no other reason, in honor of Ken Lewis’s sporting of facial hair to work, but what the hell do we know about naming firms? Web CPA quotes their reasoning:
“We selected the name ParenteBeard after considering the collective strengths and attributes of both firms and the significance of this combination,” said [CEO, Bob] Ciaruffoli in a statement. “Our new name honors our histories, while positioning the union as one firm, ParenteBeard.”
Still not convinced about the choice but maybe we don’t know the whole story. Perhaps there’s a serious case of pogonophobia among the top brass. If you’ve got better suggestions for the new firm’s name or discuss your own fear of beards, chinstrap or otherwise, discuss in the comments.
Parente Randolph and Beard Miller Merge into ParenteBeard [Web CPA]