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Footnotes: Another Win for EY; Joes Talking Taxes; Here’s Why You Suck at Parties | 03.25.14

Posted on by Adrienne Gonzalez

Didya know? EY ranks up there among students who may or may not understand what it is EY does [EY]

Just a couple of Joes talking taxes.

Bitcoin Is Property, Not Currency, in Tax System: IRS [BBW]

Candy Crush Maker Prices I.P.O. at $22.50 a Share [DealBook]

HEY someone figured out that pay day loans are dangerous [USA Today]

Another thieving accountant is going to prison [Delmarva Now]

The IRS is having trouble believing themselves [Forbes]

The Psychological Effect That Explains Why You Suck at Parties [io9]

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Hopefully the IASB Gets the Point

stephen-colbert.jpgAfter learning yesterday about the Accountancy Age Awards we thought that the celebration of accounting couldn’t get any better. And by “better”, we mean incredibly lame.
Satire being a common theme here, we definitely appreciate Christian Aid‘s attempt to help accountants, most specifically the CRAPASS IASB, to reconsider their indirectly screwing of poor countries:
Continued, after the jump

The International Accounting Standards Board (IASB) has been handed a tongue-in-cheek award from Christian Aid, after winning the charity’s Greatest Potential for Tax Reform award…PriceWaterhouse Coopers (PwC), KPMG, Ernst & Young and Deloitte & Touche also collected awards…Campaigners want the Board…to instigate urgent and far-reaching reforms – including forcing companies trading internationally to report profits made and taxes paid in every country where they operate. Christian Aid estimates that countries in the developing world are deprived of $160 billion annually in lost revenues by companies disguising their tax liabilities.

This is probably the closet thing to a Razzie that exists for the accounting industry so we’re happy to support them for the sake of argument.
If you’ve got other ideas about other awards that accountants deserve and who the recipients are, submit them in the comments.
Accounting Standards given tongue-in-cheek reform award [politics.co.uk]

Lehman Working to Pay Off Debt, One Tchotchke at a Time

lehman tote.jpgIn a couple months it will be at the one year anniversary of the collapse Lehman Brothers. In order to catch you up on the firm’s progess in paying off the $250 billion in debt owed to creditors, we proudly present The Lehman Store, courtesy of eBay.
So far the Lehman Store has 100% positive feedback with comments such as: “Great Lehman tie and excellent delivery time.” and “A+ SELLER”.
Lehman couldn’t be more pleased, “‘We are really excited to be able to offer this to the public because there is a demand,’ said Lehman spokeswoman Kimberly Macleod in a telephone interview.”
“There is a demand“, people. And since there are currently 66 items on the auction block, you’d better get on this, PRONTO.
Lehman Holds EBay Garage Sale, Hawking Trinkets to Pay Off Debt [Bloomberg]