Bourne school business manager is out of his job; system finances explored Sep 3, 2009
Simpson has been targeted by the system administration and the school committee for his accounting methods which resulted in a $661,000 deficit for this school year that must be reconciled at an October Special Town Meeting. Simpson fell downstairs at the School Administration Building along Sandwich Road July 28 and was treated at the scene. (Upper Cape Codder, MA)
Checkpoint report scrutinized at town hall Sep 3, 2009
About 200 people showed up Wednesday to hear a Government Accounting Office panel discuss a new study on the effectiveness of interior checkpoints in the Southwest and to hear a Border Patrol response to the report, which was critical of their accounting methods. The GAO, called the eyes and ears of Congress, is given free reign to independently study issues, and was asked in 2007 by Giffords, Sens. (Green Valley News & Sun, AZ)
German recovery faces setbacks Sep 2, 2009
The adjusted jobless number fell by around 1,000 but economists pointed out that was also the result of accounting methods introduced in May. Without the statistical changes, the adjusted number of jobless would have risen by around 25,000 the labour agency acknowledged. (Sydney Morning Herald -- Opinion)
Japan's Cross-Shareholding Accounting Rules Need an Overhaul, Yamada Says Aug 28, 2009
Once companies choose this classification, they would have to stick to the accounting method. May Be Reluctant. (Bloomberg -- Japan)
Accor: 2009 First-Half Results Aug 27, 2009
The new accounting method has been applied on a retrospective basis, with pro forma data provided for the six months ended June 30, 2008. (2) At constant scope of consolidation and exchange rates (3) Earnings before interest, taxes, depreciation, amortization and rental expense. (PR Newswire)
Toll Brothers Reports FY 2009 3rd Qtr Results Aug 27, 2009
" Toll Brothers' financial highlights for the third quarter and nine months ended July 31, 2009 (unaudited): * FY 2009's third-quarter net loss was $472.3 million, or $2.93 per share diluted, compared to FY 2008's third-quarter net loss of $29.3 million, or $0.18 per share diluted. * FY 2009's third-quarter net loss was impacted by non-cash pre-tax inventory and joint-venture-related write-downs of $115.0 million, and non-cash federal and state deferred tax asset valuation allowances of $439.4... (Primezone Releases)
Tonko hears roar of crowd Aug 26, 2009
The audience appeared not to listen as Tonko, who represents the heavily Democratic 21st Congressional District, tried to explain the different accounting methods to calculate the deficit, talked about how the cost of the war was "offline," or off-the-books, during the Bush administration. Tonko continued to throw out numbers before being interrupted. (Albany Times Union)
Financier Perelman Seeks $11.5 Million in Estate Fight but Gets $177,808 Aug 14, 2009
Contillo was not troubled by the accounting method. It was "not ... some long-term plan to cheat one or more of the siblings, or their estates, but rather the bookkeeping was in accordance with the way the overwhelming number and types of businesses carry assets, and liabilities, on their books.". (Law.com)
Toll Brothers Reports Preliminary FY 2009 3rd Qtr Results for Contracts, Backlog and Home Building Revenues Aug 12, 2009
" The results announced today are preliminary and unaudited. The Company will announce final third-quarter and nine-month results, including earnings, on August 27, 2009. Toll Brothers' preliminary financial highlights for the third-quarter and nine-month periods ended July 31, 2009 (unaudited): * The Company's FY 2009 third-quarter net contracts of 837 units, or approximately $447.7 million, increased 3% in units and declined 5% in dollars compared to FY 2008's third-quarter net contracts of... (Primezone Releases)
IIJ Announces First Three Months Financial Results for the Fiscal Year Ending March 31, 2010 Aug 11, 2009
" For details, please refer to page 6 in this presentation material. (3) Contracts for mobile data communication service for home use is included in Connectivity service (home use). (4) IP Service revenues include revenues from the Data Center Connectivity Service. (5) Revenue from mobile data communication service for home use is included in Connectivity service (home use). Internet Initiative Japan Inc. ------------------------------ Quartely Consolidated Balance Sheets (Unaudited)... (Primezone Releases)
Jus-Made marks first U.S. deal for SigmaBleyzer Aug 8, 2009
The 54-year-old beverage manufacturer is a cash-strapped, family owned company with antiquated accounting methods, few long-range plans and agitated shareholders. Unlike earlier buyouts, the business isn t based overseas in the former Communist Bloc, but right up the road from Houston in the Metroplex. (Houston Business Journal, TX)
Media giant swings into loss Aug 6, 2009
But calculated by another accounting method favoured by analysts for forecasting, the company had earnings per share of 1. 16 dollars, double the 66 cents expected. (Business Report, South Africa)
Panasonic Slips to Q1 Loss, Outlook Unchanged Aug 3, 2009
On the operating level, which shows a company's core earnings strength and comes before restructuring charges in Panasonic's accounting method, it maintained its annual outlook of a 75 billion yen profit, up 3 percent on the year. In an effort to improve profitability by boosting its presence in the "green energy" business, Panasonic is planning to acquire Sanyo Electric Co Ltd, the world's largest rechargeable battery maker. (ABC News -- Wire)
Cimarex Announces Second-Quarter Production Volumes and Provides Operations Update Jul 30, 2009
Cimarex accounts for these financial commodity derivative contracts using the mark-to-market accounting method. Cimarex will release its second-quarter 2009 financial results on Friday, August 7, 2009, before the market opens. (PR Newswire)
Thermadyne Holdings Corporation Announces 2009 Second-Quarter Results Jul 29, 2009
Excluding the effects of the LIFO inventory accounting method, gross margin was 27. 9% and 33. (Primezone Releases)
Closing Inventory Prices Suggested (13) Jul 27, 2009
Farmers who use the accrual accounting method to complete Schedule F for their income tax return also need to accurately value their inventory of crops, livestock and products. The inventory list here is developed by ISU Farm Economist Bill Edwards and fellow specialists Chad Hart, John Lawrence and Ann Johanns. (Agri-View, WI)
Axtel Reports 2Q09 Results Jul 23, 2009
135 million benefit due to a change in the uncollectable reserves accounting method for corporate customers recorded in the fourth quarter of 2008. Recurring operating expenses for the twelve-month period ending on June 30, 2009 would otherwise be Ps. (PR Newswire)
Tolkien heirs fight for their Rings money Jul 18, 2009
The accounting methods used by New Line Cinema, the Time Warner unit that made the films, will face a jury's scrutiny in October, when the heirs' lawsuit against the New York media company is set for trial. The case, if not settled by then, may provide a window into accounting practices that let Time Warner deny proceeds of the Oscar-winning films to Tolkien's heirs. (Sydney Morning Herald -- Entertainment)
`Hobbit' Heirs Seek $220 Million From Time Warner for Lost `Ring' Rights Jul 15, 2009
The accounting methods used by New Line Cinema, the Time Warner unit that made the movies, will face a jurys scrutiny in October, when the heirs lawsuit against the New York-based media company is set for trial in Los Angeles Superior Court. The case, if not settled by then, may provide a window into accounting practices that let Time Warner deny proceeds of the Oscar-winning films to Tolkiens heirs. (Bloomberg -- UK)
Unsatisfactory state Jul 10, 2009
Although companies may default, it seems odd for a government to make pension promises and then use accounting methods that assume it may fail to keep them. In America, for example, state and local pension benefits are guaranteed by law in many states. (The Economist)
Letters Jul 5, 2009
He is also mistaken when he writes that a gold Eagle coin is "99.999%" pure gold". A (South African) Krugerrand, a (US) Eagle, a (Chinese) Panda and an (Euro) Philharmonic each contain a troy ounce of gold, actual gold weight or AGW. A Krugerrand weighs 33.9305 grams and is 91.7% gold. An Eagle weighs 33.931 grams and is 91.67% gold. The Panda and the Philharmonic each weigh over 31.1 grams and are 99.9% gold. rwe2late USA (Jun 8,'09) Greetings from Wonderland, the country that can make... (Asia Times Online)
Arisawa, CFS, Elpida, Furukawa Electric, GS Yuasa, Sosei: Japan Stocks Jun 29, 2009
It cited an inventory-related charge stemming from a change in accounting methods. (8601 JT) plummeted 12 percent to 587 yen, the sharpest slide since April 2000. (Bloomberg -- Japan)
Carbon Footprint Calculator Enables First-ever Country By Country Comparison Jun 27, 2009
Thus, Hertwich and Peters accounting method enables policymakers to understand the carbon footprint of imported products for possible regulation. Their website, , allows users to check the importance of different consumption categories for each nation and details the greenhouse gas emissions associated with the final consumption of goods from 73 nations and 14 world regions. (Science Daily)
Bic Camera, Daiwa, Hamamatsu, Nichia, Takashimaya: Japan Equity Preview Jun 27, 2009
(8229 JT): The supermarket chain posted a first- quarter net loss of 311 million yen, compared with a 114 million yen in profit a year earlier, citing an inventory-related charge stemming from a change in accounting methods. The stock gained 2. (Bloomberg -- Japan)
'Safe Harbor' Is Just That for Humana in Securities Class Action Jun 25, 2009
The plaintiffs in the Humana case, represented by lead counsel Coughlin Stoia Geller Rudman & Robbins, argued that the company's cautionary statements were not sufficient to invoke the PSLRA's safe harbor protection because Humana knew that its accounting methods were suspect. But Judge McKinley, citing an earlier ruling, wrote in his opinion that "plaintiffs' allegation that the defendants had actual knowledge of the internal control problems 'does not save the claim because the existence of... (Law.com)
Palo Alto council apologizes for theater probe Jun 3, 2009
It looks like there are better accounting methods now in place at the theatre. Better accounting methods were definitely needed. (Palo Alto Online, CA)
GM Poised To Declare Bankruptcy Jun 1, 2009
The big banks should come under military control and all their accounting methods and exchanges of foreign currency should be watched continuously by a new finance committee like the SEC, but with more force. Posted by Banned4HavingAnOpinion at 12:55 AM : Jun 1, 2009. (CBS News)
Carthage budget report shows income up, expenses down; Citywide cleanup days June 20 & 27 from 7 a.m.- 2 p.m. May 20, 2009
The city also spent more money on accounting as it finished its switch to an accrual accounting method. Utility costs were also up. (Carthage (Hancock County) Journal Pilot, IL)
Toll Brothers Reports Preliminary FY 2009 2nd QTR and 6 Month Totals for Home Building Revenues, Backlog and Contracts May 20, 2009
5 ======== ======== ======== ======== (a) Excludes deliveries from projects accounted for using the percentage of completion accounting method ... 4 ======== ======== (b) Amount represents revenues recognized on projects accounted for using the percentage of completion accounting method. (Primezone Releases)
CNP Assurances : First-Quarter 2009 Quarterly Information May 13, 2009
0% decline in personal risk premiums reflects a change in accounting methods rather than an underlying trend. Whereas previously annual premiums were immediately recognized in the accounts in full, part of the income from local authorities in France is now recognized on a quarterly basis. (PR Newswire)
Gov't Runs April Deficit for First Time Since '83 May 13, 2009
Based on the new accounting method, the size of the deficit from October through March fell about $175 billion. 1. (ABC News -- Wire)
American Express, Bank of America Rose Too Fast: John Dorfman May 12, 2009
Citigroup lost about $5 to $6 a share last year, depending on the accounting method you use. expect a loss of more than 60 cents a share this year. (Bloomberg -- Columnists)
Attorney general examining charities May 10, 2009
The investigation found that Feed My People Children's Charities used a legal but controversial accounting method to transfer ownership of donations of food to charities operated by its employees and their relatives. The ownership of the food was transferred to the charities on paper, and they in turn transferred ownership to various recipients, including other food banks, homeless shelters and missions. (AZCentral -- News)
MTA officials say transit changes won’t hurt Elmhurst May 8, 2009
Elmhurst resident Ann Darby had strong words for Raskin and other city officials present regarding the MTA s finances and accounting methods, and the appointment of members to the authority s board of directors. What s their income, what are their salaries. (Queens Chronicle, NY)
Tekelec beats analysts but shares fall May 8, 2009
Based on that accounting method, Tekelec handily beat analyst expectations, with EPS of 24 cents per share. Bill Everett, Tekelec s CFO, said the one analyst who tracks the company s earnings based on GAAP numbers had an EPS estimate of 16 cents for the first quarter. (Raleigh Triangle Business Journal, NC)
Carbon Balance Of Terrestrial Ecosystems In China May 7, 2009
Second, the results from this land-based carbon accounting method were verified by atmospheric inversions that rely on measurements of CO2 concentration, models of CO2 dispersion by atmospheric winds and first-guess information about land-atmosphere fluxes. Third, five different ecosystem models integrated from wall-to-wall across the Chinese territory are used to estimate separately the potential contribution of rising CO2 concentrations and climate change to regional carbon balance. (Science Daily)
Rex Energy Corporation Announces First Quarter 2009 Results May 6, 2009
Rex Energy believes that EBITDAX assists its lenders and investors in comparing a company's performance on a consistent basis without regard to certain expenses, which can vary significantly depending upon accounting methods. Because the company may borrow money to finance its operations, interest expense is a necessary element of its costs and ability to generate cash available for distribution. (Primezone Releases)
Questions surround layoff decision May 1, 2009
8 million using flawed cost accounting methods. The high repair costs were a direct result of Kevin's decisions. (Coos Bay-North Bend The World, OR)
Holliston Water Dept., town settle simmering dispute over water bills Apr 28, 2009
Town Meeting s approval will be required to create an enterprise fund, a common accounting method for municipal water departments. Finance Committee Chairman John "Jay" Leary Jr. said it was somewhat disingenuous for water commissioners to object to the unpaid bills when other town departments were aiding them for free. (Holliston Tab, MA)
Canadian Banks Avoided Mortgage Meltdown Apr 19, 2009
And while a number of this country's biggest banks reported improving conditions this week, some of their accounting methods have been questioned. One place where none of this banking drama is taking place is Canada, as CBS Evening News weekend anchor Jeff Glor reports. (CBS News)
Citigroup surprises analysts with $1.6bn in profit for first quarter Apr 19, 2009
The rules reflect the possibility that a company could buy back its own liabilities at a discount, which under traditional accounting methods would result in a profit. Citigroup, one of 19 US banks gearing up for the release of stress tests run by the Federal Reserve, has quadrupled on the New York Stock Exchange since falling to a low of $1. (Business Report, South Africa)
Asahi Glass, Aderans, Doutor, NEC Electronics, Takashimaya: Japan Stocks Apr 16, 2009
The fiberboard maker said in a preliminary earnings statement full- year net income amounted to 600 million yen, 71 percent above its outlook, due to drops in stock-valuation charges and tax costs following changes in accounting methods. (3087 JT) plummeted 7 percent to 1,260 yen. (Bloomberg -- Japan)
Arcs, Hogy Medical, JGC, Sumitomo Heavy, Sumitomo Realty: Japan Stocks Apr 14, 2009
7 billion yen as it devalues inventory assets, reflecting a change of accounting methods. (8404 JT) soared 7 percent to 107 yen. (Bloomberg -- Japan)
Texas state school workers were paid millions in overtime Apr 13, 2009
That's because of an accounting method, which the Department of Aging and Disability Services says is common across all state agencies, that allows workers to be paid for overtime at a later date, instead of in the next payroll check, they said. All of which means that employees can be forced to work overtime for pay that may have to come later. (KHOU.com, TX)
Divestco Reports 2008 Annual and Q4 Results Mar 30, 2009
The Company believes EBITDA and operating income assists investors in comparing the Company's performance on a consistent basis without regard to financing decisions, and depreciation and amortization, which are non-cash in nature and can vary significantly depending upon accounting methods or non-operating factors such as historical cost. EBITDA and operating income are not calculations based on Canadian GAAP and should not be considered alternatives to net income in measuring the Company's... (CCNMatthews Press Releases)
The world according to Garth Mar 27, 2009
Moses Znaimer, who shared Mr. Drabinsky's ambitions but not his accounting methods, once confessed: Garth is the only guy who makes me feel avuncular. The most telling Freudian slip was made by Peter Gzowski, then the dominant voice of CBC Radio, at the end of one of his Morningside interviews: And that was Darth Grabinsky, he blurted out, before correcting himself. (Globe and Mail)
DO GEORGIANS GAIN FROM PSC VOTE ON NUKE PLANTS? Two views Mar 26, 2009
The Georgia Nuclear Energy Financing Act, passed by the Legislature and endorsed by the Public Service Commission, enables Georgia Power to use an accounting method called Construction Work In Progress, or CWIP, to finance new nuclear reactors. The measure retains the PSC s authority to ensure only prudent costs are passed onto ratepayers. (Atlanta Journal-Constitution -- Opinion)
Capital Bank takes $65M charge, revises earnings Mar 14, 2009
Increased emphasis by the U.S. Securities and Exchange Commission on the use of the controversial mark-to-market accounting method prompted Capital Bank to calculate goodwill impairment based on the decline in the company s stock price over the past year. Capital shares have fallen from a 52-week high of $11. (Raleigh Triangle Business Journal, NC)
Mark-to-Market Accounting Pros and ... Mar 12, 2009
Mark-to-Market is an accounting method for valuating investments that in most times accurately values investments, but can misrepresent values in an economic crisis. Accounting rules dictate that financial statements should present fairly the financial position of an entity. (Suite101.com)
Is there a viable alternative to fair-value accounting? Mar 12, 2009
Historical-cost accounting methods may not work quite so well in measuring current values and in projecting future values. It needs to be kept in mind that common double-entry accounting worked in systems based on transactions and are most relevant to economies based on buying and selling transactions. (The Star Online, Malaysia -- Business)
NASA Gets $1B In Stimulus After Going $1B Over Budget Mar 5, 2009
The multibillion-dollar James Webb Space Telescope, whose current cost is unknown, was at least $1 billion over estimates three years ago, before NASA began its new cost accounting methods. NASA has cost overruns for several reasons, said the GAO's Chaplain. (Fox News)
Buffett Says Derivative Values Can Be Misleading Mar 1, 2009
Warren Buffett says accounting methods can produce absurd values for long-term derivatives. By JOSH FUNK AP Business WriterOMAHA, Neb. (ABC News -- Wire)
'Obama Robin Hood' to tax the rich Feb 27, 2009
The accounting method has been commonly used since the 1930s and is viewed as the most accurate measure of income for financial statement purposes, according to the congressional Joint Committee on Taxation, a nonpartisan panel. Story Tools. (Sydney Morning Herald -- Business)
Social Security Fix Demands Honest Numbers: Charles P. Blahous Feb 27, 2009
One possible course is to scrap the divisive accounting methods that are at the root of todays confusion and return to the methods that both parties were willing to use in 1983. Advocates of transparency in government are unlikely to be satisfied by a solution that relies on an accounting method, , that has drawn just criticism for low-balling Social Securitys actual shortfalls. (Bloomberg -- Columnists)
Big Banks Brace For Crucial "Stress Tests" Feb 26, 2009
You mean they're not just going to hand the money out without checking the accounting methods of the banks themselves ... You mean they're not just going to hand the money out without checking the accounting methods of the banks themselves. (CBS News)
Orbitz Worldwide, Inc. Reports Fourth Quarter and Full Year 2008 Results Feb 24, 2009
-- EBITDA is widely used by investors to measure a company's operating performance without regard to items such as interest expense, income taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired. Management believes investors commonly adjust EBITDA to eliminate the effect of non-recurring items such as restructuring charges, as well as... (PR Newswire)
Will These 6 Stocks Cut Their Dividends? Feb 21, 2009
The problem with using payout ratios based on earnings, however, is that thanks to GAAP accounting methods, earnings don't necessarily translate into cold, hard cash that a company can use to pay a dividend. So in order to pick up actual cash, some analysts like to use payout ratios based on free cash flow. (MSNBC -- Business)
Lloyds hammered by HBOS loss Feb 14, 2009
It said the increase also reflected the application of Lloyds' own more conservative accounting methods at HBOS since the two banks completed their tie up in January. Analysts expect UK banks to suffer a sharp rise in bad debts this year as a recession that began in 2008 gathers pace. (Sydney Morning Herald -- Business)
Letter: Salem Chamber opposes increased taxes on meals and lodging Feb 14, 2009
This proposal would be extremely costly for these operators to change accounting methods. In summary, the Salem Chamber of Commerce recommends the Patrick administration withdraw its unfair proposal for a regressive tax that would hurt an already struggling industry. (Hamilton Wenham Chronicle, MA)
Overall crime down in Brookline, though rapes and assaults up Feb 12, 2009
Chief Daniel O Leary cautioned that the number of assaults may have been inflated by a new accounting method his department has adopted. The number of assaults is also lower than it was in 2004 and 2005. (Brookline TAB, MA)
COLUMN: Time for Democrats, Republicans to work together on stimulus Feb 11, 2009
Two for me, one for you accounting methods is exactly what we need to get away from, when the taxpayers are placed in the fixing problems end of the equation, rather than just on the predatory lending end of it. Eventually the predatory lending needs confronted and all participants stung from it. (Mattoon Journal-Gazette, IL)
Market Forecaster Feb 10, 2009
Profit was boosted by a credit of 123 million based on the last-in, first-out accounting method, which meant the company benefited from falling costs for crops. The U.S. housing market lost 3. (Midwest Bulls Eye, NE)
City to approve budget plan Feb 8, 2009
Lord Thundercock wrote on Feb 6, 2009 8:28 AM:" "New accounting methods"? Hmmm... do the terms "ENRON" and "SCAM" mean anything to you? If this was indeed the case - why was a fiscal emergency called just last week? This is really REALLY fishy, and merits a thourough investigation by an OUTSIDE firm (NO cronyism).Again - Calexico is the laughingstock of politics. Way to go! ". HOLA wrote on Feb 6, 2009 8:27 AM:" why isnt the budget on line ? the counties' is. ". (El Centro Imperial Valley Press, CA)
