When accounting goes unaccounted for
1. Vault 50
2. Reading the IRC
3. CPA Practice Advisor Most Powerful Women in Accounting
4. LinkedIn school rankings
5. CPA Practice Advisor 40 Under 40
6. U.S. News and World Report school rankings
7. Accounting Today 100 Most Influential
tie – 8. Accounting Today Top 100 Firms
tie – 8. Inside Public Accounting Top 100 Firms
• BlackRock chief attacks Wall Street earnings – Somebody’s jealous. [FT.com]
• Credit Card Disputes Tossed Into Disarray – “Two major arbitration firms are backing away from the business of resolving disputes between customers and their credit-card and cellphone companies, throwing into disarray a controversial system that prevents unhappy consumers from filing lawsuits.” [WSJ]
• Federal reserve chief heads back to Capitol Hill– “Federal Reserve Chairman Ben Bernanke heads back to Capitol Hill Wednesday, where he’s likely to face more tough questions about the central bank’s extraordinary actions to rescue the economy and its ability to take on even more responsibility.” [AP via Miami Herald]
• Morgan Stanley Loss Misses Estimates on Debt Costs – Creative accounting can’t help MS…[Bloomberg]
• Wells Fargo Says Bad Loans Rise in Second Quarter; Shares Drop – …Or Wells [Bloomberg]
• What’s email? – Paulson doesn’t use it, thanks for asking. Next question. [FT Alphaville]
• Bank of America Posts a Profit on Trading Gains – “Bank of America, one of the nation’s largest and most troubled banks, announced on Friday a $3.2 billion second-quarter profit, a figure that exceeded analyst expectations.” Ken Lewis will be starting happy hour a little earlier than usual on this Friday. Circa now. [New York Times]
• Citigroup profit soars on Smith Barney sale – “Citi’s profit was not driven by improved trading like other banks, and instead came from the gain on the sale of its Smith Barney unit and the increasing values of some of its riskier assets that had plunged during the credit crisis. The New York-based bank recorded an after-tax gain of $6.7 billion on the sale of a majority stake in its Smith Barney brokerage unit to Morgan Stanley.” Selling profitable assets usually ends up looking good. This should not be surprising. [AP via Miami Herald]
• Obama Approval 49% Among U.S. Investors, 87% Overseas – “President Barack Obama has rock- star appeal among the investing class — except in his own country.” [Bloomberg]
• Investment Bank Helps Boost Credit Suisse’s Net Income – Reigning in on the company wide Shake Shack outings is probably helpful too. [WSJ]
• One-time gain boosts Ford results – Don’t call it a comeback [BBC]
• Manure means money to handlers gathered in Iowa – Sometimes there’s money in shit [AP via Miami Herald]
• Bardem Turns Down Role in ‘Wall Street’ Sequel – “The actor Javier Bardem has turned down a role in the sequel to Oliver Stone’s seminal 1980s treatise on greed, “Wall Street.” Mr. Bardem, who won an Oscar in 2008 for his performance in “No Country for Old Men,” was to have played the world’s villain du jour: a hedge fund manager.” [DealBook]