[MA blog]:Who puts the brake on Capex spending ... Share this fortune with your friends

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FT.com / Companies / Financial Services - SEC ‘illiteracy’ to blame for Madoff affair Posted: 04 Feb 2009 01:45 PM PST From the page: "The losses linked to Bernard Madoff may be closer to $15bn-$25bn rather than the $50bn the New York broker allegedly told US investigators, according to Harry Markopolos, a former money manager turned fraud investigator. Mr Markopolos, the man who tried for nine years to expose Mr Madoff, told a Congressional hearing on Wednesday that staff incompetence on the part of the US Securities and Exchange Commission was partly to blame for failing to bring a case against Mr Madoff earlier." This posting includes an audio/video/photo media file: Download Now

Who Put the Brakes on Capex Spending? - Accounting - CFO.com Posted: 04 Feb 2009 08:44 AM PST From the page: "The amount of capital expenditures a company makes during the year often provides clues about the company's growth plans. Indeed, increased capex spending - which includes purchases of property, industrial building, and new equipment - usually means a company is preparing to expand its operation in some way. The converse is often also true. Across the board, companies have slammed the brakes on capital spending to minimize the outflow of cash. Capex increased 18 percent in 2006 but just 3 percent in 2007 for a sample of 300 companies, according to management consulting firm PRTM. Further, the outlook for capital spending is remarkably bleak, with finance chiefs in Europe looking to slash capex by 11 percent over the next 12 months, compared with predictions for modest growth in previous quarters, according to the latest poll of senior finance executives by CFO Europe." This posting includes an audio/video/photo media file: Download Now

Indian CAs can practise in Australia Posted: 04 Feb 2009 05:34 AM PST From the page: "The Institute of Chartered Accountants of India (ICAI), the body that regulates the profession of chartered accountancy (CAs) in the country, and CPA Australia have inked a mutual recognition agreement (MRA) that would recognise the qualification and give memberships to the eligible CAs through a bridging mechanism (by appearing for one or more papers). According to the MRA, ICAI members who are graduates will be eligible for the CPA Australia membership after clearing the Business Strategy and Leadership paper. On the other hand, CPA Australia members will be eligible for the ICAI membership after clearing four papers â€" Corporate Laws, Taxation, Advanced Auditing, Professional Ethics and Financial Reporting, if they have not already passed them as a part of the CPA Australia programme. The agreement will come into effect on April 1, 2009." This posting includes an audio/video/photo media file: Download Now

KPMG India launches online IFRS Institute Posted: 04 Feb 2009 05:24 AM PST From the page: "KPMG India has launched an online IFRS Institute, to provide information, updates and views on International Financial Reporting Standards (IFRS). Also Read News Now Paper Specials - Sensex trims gains on late selling - HCL Technologies opens office in Canada - IDBI Bank hopes to sell home loan arm by Feb - Nasscom to liaise with Obama admin on outsourcing - Colgate launches toothpaste for sensitive teeth - Aditya Birla financial services biz revenue up 51% More Also Read News Now Paper Specials - I-T slaps notices on Vedanta and Indian Rayon - Commerce ministry mulls 3-yr extension of EoU tax breaks - Balrampur Chini hauled up for fudging accounts - Shilpa Shetty, partner buy 12% in Rajasthan Royals More Also Read News Now Paper Specials - Q3 FY09 Results: Earnings Season - Saving Satyam: Govt gets into action - India-Pakistan Tensions: Fallout of Mumbai Terror Attack - Your Money: Where to invest - Market Crash: Global worries weigh - Time Out: Books, fashion, food, travel, sports, health... More The institute will assist various stakeholders in the planned convergence from Indian Generally Accepted Accounting Principles (GAAP) to IFRS, said a press release. In addition to propriety KPMG content, the website will provide links to several other sources of information related to IFRS and its implementation. The site can be accessed by all interested parties at no cost. Additionally, the site provides a facility to register as a member by providing certain minimal information." This posting includes an audio/video/photo media file: Download Now

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