[MA blog]: Accounting firm eye growht during downturn... Share this fortune with your friends

[Santosh Puthran]

[MA blog]: Updates on www.managementaccountant.in ... Share this fortune with your friends

Accountants Issue Debt Warning Posted: 01 Dec 2008 05:10 AM CST From the page: "Accordingly, PricewaterhouseCoopers said that more and more banks and other loan providers were seeking charging orders on customers - thereby fixing unsecured debts on assets such as property, making it easier to claim their credit back if the borrower fails to repay. The report showed that firms are now applying for these orders at a rate of around 500 a day and that 97,000 were applied for in 2007. In 2000, this total stood at around 10,000. "The survey shows that some people are still prepared to borrow despite the tough market conditions, rising unemployment, a depleted housing market and the increasing sense that they will be unable to repay debt in the future," Richard Thompson, partner at PricewaterhouseCoopers, told the BBC." This posting includes an audio/video/photo media file: Download Now

Survey: Accounting firms eye growth during downturn - Triangle Business Journal: Posted: 01 Dec 2008 05:09 AM CST From the page: "Most certified public accounting firms reported strong growth during the past two years and are poised to benefit as clients use their services more to navigate their way through the troubled economy, according to a recent survey conducted by the Durham-based American Institute of Certified Public Accountants. The 2008 National Management of Accounting Practice survey reports that 75 percent of CPA firms surveyed reported growth ranging between 1 percent and 19 percent over the two years from May 2006 through June 2008. Average net client fees per partner rose 10 percent, to $664,847. The AICPA conducted the survey in partnership with the Texas Society of Certified Public Accountants. â€oeClients go to CPAs to help them weather a troubled economy, and banks may seek greater assurance from practitioners about the companies with which they do business,†says James Metzler, an AICPA vice president." This posting includes an audio/video/photo media file: Download Now

Compliance - Investigations or Audits: Fraud vs. Innocent Mistakes Posted: 01 Dec 2008 05:07 AM CST From the page: "A financial statement audit is not a fraud investigation -- and vice versa. But to the unenlightened, they might seem to be one and the same. During uncertain economic times, corporate fraud increases, so it behooves executives and business owners to know the difference between audits and investigations. An audit is "the inspection of accounting procedures and records by a trained accountant or certified public accountant, whose purpose is to make sure the financial statements are presented 'fairly,' according to Generally Accepted Accounting Principles," said Rob MaCoy, director of audits for BKD Colorado. In other words, auditors look for errors, not necessarily for fraud. If a fixed asset depreciates and isn't recorded, MaCoy said, that's an error -- not fraud." This posting includes an audio/video/photo media file: Download Now

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