Accounting News Roundup: Ernst & Young Reports Sluggish Revenues; Obama Shifting Tax Rhetoric; Wipfli Makes Another Acquisition | 10.06.10
Ernst & Young revenues fall slightly to $21.3 bln [Reuters]
“For the full fiscal year ended June 30, revenues were down 0.9 percent to $21.3 billion from $21.4 billion in fiscal year 2009, Ernst & Young said.
Revenues from advisory services grew by 2 percent, but other areas of the firm, including tax and audit services, posted declines.”
Goldman Sachs Says U.S. Economy May Be `Fairly Bad’ [Bloomberg]
Or ‘very bad.’ Either way, it’s there’s no good to be found.
Deloitte 2010 Annual Review: Reaching new heights, As One [Deloitte]
In coordination with the “We are the champions” announcement, D rolled out its annual glossy detailing what a bang-up year it was.
Obama’s Tax Pitch: Income Gap That Millionaires Should Fill [Bloomberg]
“President Barack Obama has shifted his central argument against the Bush-era tax cuts to make the income gap as much a voter concern as the budget gap.
Since Sept. 3, Obama has chided Republicans for wanting to extend tax cuts for “millionaires and billionaires” — a line he repeated in a morning television interview, a weekly radio address, backyard chats in Des Moines and Albuquerque, and three times during one speech at a community college in Cuyahoga County, Ohio. Before then, administration economists cast taxing the wealthy largely as a matter of fiscal prudence — a way to free up $700 billion from the deficit over the next 10 years.”
Wipfli acquires Illinois firm [The Business Journal of Milwaukee]
“Wipfli LLP, a CPA firm headquartered in Milwaukee, said that officers and associates of Rockford, Ill.-based Lindgren Callihan Van Osdol & Co. Ltd have joined Wipfli through an acquisition.
The transaction was effective Oct. 1 but was announced late Tuesday. Terms of the deal were not disclosed.
Lindgren Callihan Van Osdol, which was founded in 1963, specializes in audit, accounting and consulting services to businesses and to individuals. The acquisition is one of the largest in Wipfli’s history, said managing partner Rick Dreher.”
Karl Rove group, other tax-exempt orgs under fire for alleged political activities [Don’t Mess with Taxes]
Hard to believe that Karl Rove would be involved in anything shady.
Sun Chips Bag to Lose Its Crunch [WSJ]
YOUR LUNCH WILL BE QUIETER SOON.