If the merger is approved, United Airlines and Continental Airlines will also be merging their frequent flyer programs. But what is their track record in terms of rewarding the miles versus actual requests? Consulting group, IdeaWorks Company, said Continental awarded free tickets 71 percent of the time in response to requests, and United 69 percent… Read more »
Posts Tagged: Financial Reporting
If You Are Planning to Work for Grant Thornton in Hawaii, Think Again.
Accounting firm Grant Thornton is leaving the Hawaiian market this summer after more than 50 years, and selling its practice to two of the firm’s audit partners from the Honolulu office. Several established Big Four firms have preceded Grant Thornton in this exodus, including PricewaterhouseCoopers, who left in 2006 after 55 years. Questions: 1. What… Read more »
FASB Sued for Intellectual Property Infringement
Joel Jameson, the founder of Silicon Economics, Inc. is suing the FASB. He filed for a patent for his invention called “EarningsPower Accounting,” and claims that the FASB has infringed upon the patent. Jameson claims that his invention is a patented method developed by the company to improve the accuracy, validity, and usefulness of financial… Read more »
Sarbanes-Oxley Benefits without Cost
Many have debated the cost of Sarbanes-Oxley (SOX) versus its benefits, given the recent accounting scandals that continue to “pile on”. However, according to Harvard Business School professor, Francois Brochet, the little discussed 2002 provision known as Section 403 is actually making a difference for investors and small companies (and with little cost, unlike some… Read more »
What’s the Diagnosis – Accounting Fatigue Syndrome (AFS)?
At a recent conference in Orlando, financial executives discussed one of the top reasons for employee fatigue – a continuous stream of regulatory and accounting standard-setting guidance that has been issued in recent years and the promise of more to come over the foreseeable future. Questions: 1. Although the article provides little detail, what accounting… Read more »
What If You Can’t Pay Payroll Taxes?
What If You Can’t Pay Payroll Taxes? In this video, Darrin T. Mish, tax attorney discusses some of the questions businesses ask about non-payment of payroll taxes. His advice is to “get current” as soon as possible, even though the IRS may not catch the lapse for up to four years and because IRS payroll… Read more »
Corporate Sustainability Can Mean Financial Reward, Despite Extra Costs
Tracking efforts in companies like Wal-Mart, Hewlett-Packard and Clorox, authors Ram Nidumulo, C.K. Prahalad, and M.R. Rangaswami, identified a five-stage process that will benefit companies as they navigate through the adoption of green business models. In the article, the authors contend that early adopters of this process will develop competencies that will be difficult for… Read more »
Getting to the Bottom of Repurchase Agreements (or Repos)
The Securities and Exchange Commission is asking public-company CFOs for better disclosures and additional information about repurchase agreements, or repos, which are the same transactions that Lehman Brothers used to make its balance sheet look healthy before the investment bank collapsed into bankruptcy. Based on company responses, the SEC could ask issuers to amend their filings… Read more »
Green Accounting Roadmap
A new report by Ceres, a leading coalition of investors, environmental and public interest organizations in North America, stresses that companies must make immediate envrionmental improvements to remain competitive in the 21st century global economy. Sustainable performance, not short-term environmental initiatives, will position companies to plan and innovate in an increasingly resource-contstrained economy. Included in… Read more »
Is the SEC Going to Get Tough On Compliance with Executive Pay Disclosures?
The SEC revised its disclosure guidelines for executive pay in late 2006. Since that time the regulator has been sending out letters to violator companies with insufficient disclosures, but has seen little compliance. Now the commission indicates that reviews will be tighter and there’s no room for a “Mister Nice Guy” approach. In fact, its… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition