July 17, 2018

Review Comments

Review Comments | 01.18.10

Thumbnail image for Thumbnail image for Thumbnail image for cadbury_egg.jpgCadbury and Kraft turn sweet on deal – Kraft finally put up a number that wasn’t an insult. [FT]
Senator Wants Explanation on AIG Severance Deal – Chuck Grassley would like Ken Feinberg to explain why the AIG general counsel got a severance package. Yes, he’s up for re-election. [WSJ]
Market Concentration of the Big Four Audit Firms: The Feasibility of a Suggested Trade — Divestiture for Liability Limitations – “[I]s there a credible case to incentivize their exchange of market dominance for liability limitations?” [Re:Balance]
What a Phishing Scam E-mail Looks Like – An exclamation point in an email from the IRS should be your first clue. [Tax Update Blog]

Review Comments | 01.15.10

paulson2.jpgPaulson, Friedman Asked to Testify on AIG Bailout – Whether HP complies with the request is another matter completely. [Bloomberg]
Groups Seek Presidential Pardon for UBS Tax Whistleblower – Looks like the 60 Minutes appearance didn’t quite do the trick. [TaxProf Blog]
JPMorgan Chase Earns $11.7 Billion in Year – $26.9 billion is earmarked for employees, much of which will be bonuses. Somewhere torches are being lit. [NYT]
Indian-American fired over $20 mn embezzlement charge – The Economic Times of India says that Sue is claiming to be a shop-aholic, the first we’ve heard of that particular diagnosis. Nothing about her claiming to be a thief though. [The Economic Times]

Review Comments | 01.14.10

Mary Schapiro.jpgRegulators Call for Tougher Policies at Hearing – Sheila Bair and Mary Schapiro got their turn today to make pledges, promises, etc. [WSJ]
Are You Gonna Make My Day? The Auditors And SEC Enforcement – Didn’t you hear? They’re on this. [Re: The Auditors]
Geithner to testify on AIG – Don’t make plans on January 27th. [Reuters]
Bernanke Fights to Keep Bank Powers in Senate Letter – Beard to Chris Dodd: Just retire already so I don’t have to listen to your crap anymore. [Bloomberg]

Review Comments | 01.13.10

patrick byrne3.jpgShooting the Naked MessengersThe Observer tells us that Michael Miliken and DB BFF Steve Cohen are Patrick Byrne’s Sith Lords. Who knew? [NYO via Garry Weiss]
In Case You Missed It…Virtually Out And AboutFrancine really likes Twitter. Us too. [Re: The Auditors]
Questions and Answers with Robert Khuzami – Speaking of FM, she and a few others got some time with Bob today. [Compliance Building/Doug Cornelius]
Banks Admit Missteps Amid Grilling – Some might say “missteps” others might say “big f*#(^ing mistakes”. [WSJ]
Interview Tips: Six Questions Accounting Job Seekers Should Ask – Not on the list: “Do you require a drug test?” [FINS]
Willie Aames Becomes a Financial Planner – Apparently he was on “Eight is Enough”, “Charles in Charge,” and the movies “Paradise” and “Zapped,”. Oh, and he declared bankruptcy twice. [Web CPA]

Review Comments | 01.12.10

Thumbnail image for ey8ball.jpgThe SEC Whacks Ernst & Young Over Bally Total Fitness — Now for the Spoils of Victory – “it can be predicted – and the accounting profession should expect – that going forward, the SEC will aggressively aim its macho enforcement testosterone at the big firms’ individual personnel.” [Re: Balance/Jim Peterson]
Choose Wisely! – Joe Kristan’s suggestions are better than the IRS’ [Tax Update Blog]
Open Memo to Medifast Chief Executive and CFO Michael S. McDevitt – Sam is sticking up for his friend Barry Minkow. [White Collar Fraud/Sam Antar]
Obama seems to have ignored Geithner’s advice on bank taxes – Yep. He’s fired. [CFOZone]
Galleon’s Rajaratnam slams wiretaps, stays free – Cherry picked wire taps will not stand, says Raj’s attorney. [Reuters]

Open Thread: CPA Exam Pass Rates for 2009

Cumulative scores under 50%? Sigh. You really packed it in at the end didn’t you? Don’t worry, we still believe in you (click to enlarge):
Picture 2.png
All this does is reinforce the idea that you need to be paying attention to what the JDA tells you every week in >75.
Discuss the past, the future, the section that is your sworn nemesis, the story about the taking your last section on the last day of the eighteenth month. Whatever you like. It’s fine if you have to cry a little bit.

Review Comments | 01.11.10

H&RB.jpgH&R Block adds razzle-dazzle to tax prep in Times Square – So now tourists can get their tax returns done while they wait for their table at TGI Fridays. Just like at home! [NYDN]
Can Goldman Sachs Bankers Deduct “Forced” Charitable Contributions? – Populist rancor will not subside until Team Jehovah is paying all our taxes every year for the rest of our lives. That’s the only fair solution here. [TaxProf Blog]
SEC Won’t Seek Civil Charges for BofA Executives, Directors – But they are seeking new charges so let’s not get too excited Charlotte. [WSJ]
Moss Adams Chair to Lead Private Companies Panel – Rick Anderson will chair the blue ribbon panel on private company GAAP. [Web CPA]

Review Comments | 01.08.10

ObamaAndGeithner0109.jpgTim Geithner Will Be Fired After The November Elections – Some say sooner. Takers? [Clusterstock/John Carney]
Accounting Loses 2,600 Jobs in December – “Off 42,200 since recession began, according to today’s BLS estimates.” [CPA Trendlines]
Steve Schwarzman Will Cut A Bitch Who Gets In Between Him And His Rom-Coms – SS would not be denied from perfect seating for It’s Complicated. [DB]
NYC Stuyvesant Town complex misses payment – Doomed. [Reuters]

Review Comments | 01.07.10

8ball.jpgKPMG Lists Top 10 Priorities for Audit Committees – Fire Grant Thornton and hire KPMG? [Web CPA]
Kumar Pleads Guilty in Galleon Case – Anil Kumar says he got $1.75 million for his inside dish from Raj. [WSJ]
FASB Finalizes Changes on Consolidation, Equity – Subtopic 810-10 updates FAS 160, Noncontrolling Interests in…oh to hell with it. [Compliance Week]
Cell Phones are Good for Your Brain – Gab away. [The Atlantic]

Review Comments | 01.06.10

empticketmaster.jpgU.S. regulators undecided on Ticketmaster deal: sources – Maybe because they’ve been turned to the Dark Side. [Reuters]
Yes, that morale problem is as bad as you think – Snap out of it people. [CFOZone]
New Clarity on Contingent Liabilities – Crystal. [CFO]
Kansas May Need 16 Weeks to Refund Paper Tax Filings – Remember what we said about expectations. [Web CPA]
Schwarzenegger Asks for More Funding – Arnie is blaming the Feds for the state’s $20 billion budget shortfall. [WSJ]