Accounting News

Shares of Chinese companies that trade on U.S. exchanges tumbled Monday after the latest instance of possible accounting problems at a Chinese company traded in the U.S.

But shares of Weatherford International fall sharply on news of accounting woes.

Senator Asks Fed for Emails, Phone Logs In a letter Monday to Fed Chairman Ben Bernanke, Sen. Bernie Sanders asked about potential conflicts of interest between bank executives and Fed officials, and he wants a more detailed accounting of who got what.

The hedge fund known for exposing bad accounting at Lehman Brothers expresses scorn for the Federal Reserve's latest strategy, according to its latest investor letter.

CIT Group Inc., the business lender led by former Merrill Lynch CEO John A. Thain, on Tuesday posted stronger-than-expected third-quarter profit as business activity increased. The company, which spent a month in bankruptcy reorganization at the end of last year, also revised its first- and second-quarter results higher after reviewing its accounting.

[at Reuters] - * Options traders brace for volatility in coming months * Hewlett-Packard rises as profit forecast tops estimates * Green Mountain tumbles on U.S. accounting inquiry

[at Reuters] - * Hewlett-Packard rises as profit forecast tops estimates * Green Mountain tumbles on U.S. accounting inquiry * Dow, S&P, Nasdaq nearly flat

[at Reuters] - * Hewlett-Packard profit forecast tops estimates * Green Mountain tumbles on U.S. accounting inquiry * Indexes down: Dow 0.4 pct, S&P 0.5 pct, Nasdaq 0.4 pct

Thor Industries announced today that the Company has completed its evaluation of certain accounting positions previously taken in its audited financial statements included in the Company s Annual Report on Form 10-K for the fiscal year ended July 31, 2009 and the unaudited financial statements included in the Company s Quarterly Reports on Form 10-Q for the periods ended January 31, 2009, April 30, 2009, October 31, 2009 and January 31, 2010 and Thor s auditors have completed their review under SAS100 of the third quarter results.

Intuit Inc. on Thursday said its fiscal third-quarter profit jumped 19 percent as more consumers and businesses turned to its tax and accounting software and websites.

The Buffalo News latest buyout offer has been accepted by 27 employees, including several veteran reporters. Along with eight people in the newsroom, employees in circulation, accounting and classified advertising have accepted a package negotiated by managers and the Buffalo Newspaper Guild that will have them retire as of April 30.

The Buffalo News' latest buyout offer has been accepted by 27 employees, including several veteran reporters. Along with eight people in the newsroom, employees in circulation, accounting and classified advertising have accepted a package negotiated by managers and the Buffalo Newspaper Guild that will have them retire as of April 30.

* Net profit declines 2.6 pct * Company reaffirms 2010 guidance MEXICO CITY, April 26 - Mexican homebuilder Homex said on Monday its first-quarter net profit was 188 million pesos , down 2.6 percent from the year-ago period following a change in accounting rules.

Goodrich Petroleum Corp. said late Wednesday it has appointed Jan Schott interim chief financial officer, effective March 31. Schott has been Goodrich s principal accounting officer for the past three years.

Solar cells and panels maker SunPower Corp. on Thursday posted a steep drop in fourth-quarter profit after restating its earlier earnings due to accounting errors.

Rothstein Kass , a national accounting and advisory services firm announced today that Kelly Easterling, a Principal in the Walnut Creek office, has been elected to serve a one-year term as the co-CEO of the Association of Women in Alternative Investing .

Aditya Birla Minacs, a global business solutions company, today announced the acquisition of UK-based Compass BPO Ltd, a leading pure-play end-to-end Finance and Accounting services provider.

Starbucks Corp. spent $190,000 in the fourth quarter to lobby on foreign trade, corporate accounting issues and other matters, according to a recent disclosure report.

Raising kids is expensive, but the tax laws can ease that burden, according to CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services .

LAUREL, Md.----Aquilent, the recognized leading provider of Web-based solutions shaping the next generation of technology for the federal government, today congratulated the Department of Labor for its progressive joint initiative between CIO and CFO offices, integrating procurement functionality with a new Oracle Federal Financials accounting system.