Funds speak out on accounting From Global Pensions One panel member commented: 'I believe there is some merit in the twin track approach of funding and accounting, which helps to give trustees some advance warning of potential employer issues.' Paul Klumpes, professor of accounting at the Tanaka Business School, Imperial College London, said the results suggested most pension fund managers employed a risk management approach to evaluate the economic impact on firms' reported pension exposure.

Read more...

Posted Under: Accounting

Sage Accounting for Small Business Product Released From TMC Net Sage Software ( News - Alert ) has announced a new version of its business management product for small businesses, Sage BusinessVision 50 Accounting 7.2. The product is described as a business management product "for growing small businesses that require a step above entry-level accounting applications, but don't yet require a more sophisticated, full-fledged enterprise resource planning (ERP) product." Sage BusinessVision 50 Accounting 7.2 Standard Edition, U.S. and Canadian versions,...

Read more...

Posted Under: Accounting

Noven shrs fall after Q4 results delayed on accounting issues From Reuters UK Quote, Profile, Research ) lost as much as a quarter of its market value on Thursday, a day after the drugmaker delayed its fourth-quarter and full-year results due to an accounting issue related to revenue recognition. The issue, which was raised by the U.S. regulators, is related to Noven's accounting policy of deferring revenue recognition of upfront milestone payments and recognizing them as revenue over the estimated life of its licensed products.

Read more...

Posted Under: Accounting

PFI accounting rule changes delayed until April 2009 From Contract Journal The introduction of new international accounting rules, which will put up to  30bn of PFI schemes on the Government's books, has been delayed until April 2009, CJ understands. However sources say the Treasury has asked all Government departments to begin supplying shadow information on their PFI schemes immediately, in the run up to the introduction of new rules.

Read more...

Posted Under: Accounting

Accounting for nothing From Guardian We set up a table at a large public building and offered two kinds of chocolates - Lindt truffles and Hershey's Kisses. Lindt truffle at 15 cents and a Kiss at one cent, we were not surprised to find that our customers acted with a good deal of rationality: they compared the price and quality of the Kiss with the price and quality of the truffle, and then made their choice. About 73 percent of them chose the truffle and 27 percent chose a Kiss. So we offered the Lindt truffle for 14 cents...

Read more...

Posted Under: Accounting