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Topic: Accounting reform

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	Accountancy - Wikipedia, the free encyclopedia
		Application of International Accounting Standards originating in International Accounting Standards Board headquartered in London and bearing more resemblance to UK than current US practices is often advocated by those who note the relative stability of the U.K. accounting system (which reformed itself after scandals in the late 1980s and early 1990s).
		Accounting reform of a far more comprehensive sort is advocated by those who see issues with capitalism or economics, and seek ecological or social accountability.
		Accounting principles, rules of conduct and action are described by various terms such as concepts, conventions, tenets, assumption, axioms, postulates.
	en.wikipedia.org /wiki/Accounting (1893 words)

	Bambooweb: Accounting reform
		Accounting reform is change to accounting rules that goes beyond the enforcement of standard accounting practices and the elimination of "creative accounting".
		Marilyn Waring, who deeply criticized the UN account system for systematically under-valuing the social and economic contributions of women, stated also that she had to read literally an entire room full of books in order even to understand the standards applied today.
		It seems unlikely that most advocates of reform have the stamina to do so, nor the background required to debate each issue with economists or accountants that build their careers on the detailed extension and improvement of standards that already exist.
	www.bambooweb.com /articles/a/c/Accounting_reform.html (575 words)

	[No title] (Site not responding. Last check: 2007-11-07)
		Any comprehensive scheme of accounting reform is a major professional and academic enterprise; Typically it requires examination of the role of each of the fundamental factors of production, an analysis of capital indicating how many types there are and how each supports each factor of a production process.
		Limited reforms within professional management circles have led in the past to activity-based costing, executive value added, regret and risk measures.
		This is perhaps the most obvious and widely-held critique of current national accounting and economic growth reporting systems - the creators of the GNP and GDP measures themselves advise against its use as a single measure of economic growth - but politicians and press typically do so without caveat nor apology.
	www.informationgenius.com /encyclopedia/a/ac/accounting_reform.html (562 words)

	ACCOUNTING REFORM IN RUSSIA: AN INSIDER’S COMMENTS
		This fact affected the accounting system in that the only purpose of accounting was to deliver fiscal data to the state, rather than provide information for shareholders and management.
		The development of the Soviet accounting system led to a unified depreciation method, a government-predefined fixed chart of accounts, and, globally, the development of a “form over substance” principle that drove accountants to abide by Soviet Ministry of Finance instructions, rather than follow business logic, when recording accounting transactions.
		Mikael Gorsky is the director of the Moscow-based Foundation for International Accounting in Russia (www.fiar.ru, fiar@fiar.ru), a private, nonprofit organization that promotes professional training and knowledge dissemination in the area of international accounting practice.
	www.bisnis.doc.gov /bisnis/bulletin/2-01Bull5.htm (800 words)

	Corporate Accounting Reform (Site not responding. Last check: 2007-11-07)
		Its provisions created a new accounting industry regulatory body to be supervised by the Securities and Exchange Commission, limitations on accounting firms conducting internal audits or designing financial reporting systems for firms for which they conduct external audits, and a prohibition on insider stock sales during pension fund "flout" periods.
		In July, 2002, the Senate passed S. 2673, which increased the responsibilities, independence, and authority of the accounting regulatory body and required annual inspections of the largest accounting firms.
		2673 also mandated that accounting firms be hired by the audit committee of a company's board of directors, and that CEOs and CFOs certify that their firm's financial reports present a fair picture.
	www.house.gov /petri/issues/account.htm (763 words)

	BNA Health Care: Sarbanes-Oxley Accounting Reform Act Affects Corporate Tax Departments
		The accounting firm should not function as part of management or as an employee of the audit client, which would be required if the accounting firm provides human resources services such as recruiting, hiring, and designing compensation packages for the officers, directors, and managers of an audit client.
		A registered public accounting firm may be precluded from providing other tax services (such as the rendering of a tax opinion) to an audit client on the grounds that they require the firm to function as part of the management of that client or require it to audit its own work.
		A foreign public accounting firm, including a foreign affiliate of a registered public accounting firm, that was required to be registered would presumably be subject to the same restrictions on the provision of non-audit services as a registered public accounting firm organized under the laws of the United States.
	subscript.bna.com /pic2/bcarpic.nsf/id/DTRS-5DWLCZ (3681 words)

	Accounting Rate Reform undertaken by ITU-T Study Group 3
		Later on, two more annexes were added to facilitate the bilateral negotiation of accounting rates and to recommend the reduction of the total accounting rate at least to a level of 1 SDR per minute by the end of 1998.
		The adoption of three new remuneration procedures can be regarded as a real breakthrough in the reform of the accounting rate system and should facilitate the process of market reform for the benefit of the whole telecommunication community, and particularly for users.
		It is to be noted that the secretariats of the ITU and the WTO have collaborated closely on understanding the implications of reform of the accounting rate regime for trade in telecommunication services.
	www.itu.int /ITU-T/studygroups/com03/accounting-rate (1628 words)

	Accounting Education Reform Must Begin in High Schools, Says Top Educator (Site not responding. Last check: 2007-11-07)
		With the number of students enrolled in accounting degree programs steadily decreasing and fewer candidates sitting for the CPA Examination, accounting education needs to be reformed, said W. Steve Albrecht, an accountancy professor and associate dean at Brigham Young University.
		In addition, the accounting field is not perceived as an attractive profession, even though is has changed drastically with the advent of computers, accounting software programs and technology that has allowed accountants to spend less time crunching numbers and more time with customers.
		Introductory accounting courses at both the secondary and early post-secondary level need to be less technical in order to emphasize accounting's role in the business environment and to show students that it isn't just about number-crunching.
	accounting.smartpros.com /x6735.xml (450 words)

	PricewaterhouseCoopers: Romania-Real Estate Investments in Romania - Romanian Accounting Reform - a difficult balancing ... (Site not responding. Last check: 2007-11-07)
		Accounting rules in place prior to reform were very much prescriptive in nature and the focus on providing information only for the Fiscal Authorities and the State Statistical Bodies discouraged the use of judgement in the practical implementation of the rules.
		Furthermore, certain prescribed accounting rules were retained that are not required under IAS, such as the requirement for a very detailed prescribed format of the primary financial statements.
		On balance, the reform approach adopted by the Regulator that enables all preparers of financial statements to move gradually forward should be welcomed as a pragmatic solution to a difficult problem.
	www.pwcglobal.com /ro/eng/ins-sol/issues/Issues2003/romaccount.html (490 words)

	TSCPA Accounting Reform Positions (Site not responding. Last check: 2007-11-07)
		The accounting profession is under extreme scrutiny as a result of recent events and circumstances resulting in the erosion of investor confidence in the marketplace.
		To the extent reform proposals are necessary, they should be determined by the appropriate national organizations, including the Congress, Securities and Exchange Commission (SEC), FASB and AICPA in order to maintain national consistency.
		Accounting principles setting bodies are encouraged to move to a primarily principles-based approach to accounting standard development.
	www.tscpa.org /welcome/ReformPositions.html (549 words)

	washingtonpost.com: House Passes Accounting Reform Package
		House lawmakers approved an overhaul of rules governing the accounting industry yesterday, arguing for stricter oversight and broader financial disclosure to help prevent the kind of auditing failures that contributed to Enron Corp.'s bankruptcy last year.
		The quick passage of the bill, which was largely supported by the accounting profession but assailed by consumer groups, demonstrates how eager politicians are to respond to Enron's collapse.
		Accounting firms are expected to serve as a watchdog over publicly traded companies by ensuring that corporations disclose their true financial condition to investors.
	www.washingtonpost.com /ac2/wp-dyn/A44358-2002Apr24?language=printer (1057 words)

	Action Regarding Trust Reform and Historical Accountingg
		I agree with the Court that an accounting to the IIM beneficiaries is long overdue.
		Although myriad accounting approaches may be employed in some form and to some degree in this endeavor, it is imperative that the Department's approach satisfies our obligation to account and that the methods used to meet that goal meet appropriate fiduciary standards.
		Because the proper development of a comprehensive plan for the historical accounting of IIM accounts is likely to take a significant amount of time, the Department must identify any portions of the historical accounting work that can begin without compromising the development of a comprehensive plan.
	www.doi.gov /news/memo1.htm (1112 words)

	Mercer Capital: Public Company Accounting Reform and Investor Protection Act of 2002 (Site not responding. Last check: 2007-11-07)
		Accountants and accounting firms bear the brunt of the legislation, as about half of the bill is devoted to the new Accounting Oversight Board and auditor independence issues.
		The Accounting Oversight Board is given seemingly broad authority to adopt standards governing attestation procedures, audit quality control, and auditor ethics, responsibilities formerly performed by committees of the American Institute of Certified Public Accountants.
		It provides that the auditor must report to the audit committee regarding (i) the critical accounting policies used; (ii) alternative accounting treatments discussed with management, their financial effect, and the treatment preferred by the auditor; and, (iii) communications with management, such as management letters or schedules of unadjusted differences.
	www.bizval.com /Publications/PrintableVersion/SarbanesOxley.htm (734 words)

	Accounting and Auditing Reform Advances in Moldova by Adolf Enthoven and Mike Neider (Site not responding. Last check: 2007-11-07)
		These manuals describe the conversion to the new national accounting standards, the maintenance of an accounting system, and the preparation of financial statements and address tax accounting and reporting and disclosure issues in relation to annual financial statements.
		The accounting and auditing profession, and the economy as a whole, depend heavily on students in the field receiving a high-quality education.
		Adolf Enthoven is professor of accounting and director of the Center for International Accounting Development at the University of Texas at Dallas and consulting director on accounting for the East-West Management Institute.
	www.worldbank.org /html/prddr/trans/octnovdec01/pgs21-22.htm (687 words)

	Student / Teacher - Accounting reform issues for the high school classroom (Site not responding. Last check: 2007-11-07)
		This law was passed quickly as a direct response to the clamor for accounting reforms.
		Most important, the AICPA believes that it would be better to reform the accounting rules themselves rather than to put unnecessary limitations on the firms that provide audits.
		Instead, it would be better to address accounting rules and regulations directly – to continue with the discussions about accounting reform that have been conducted over the past few years.
	www.wicpa.org /Student_Teacher/articleaccreform.htm (1202 words)

	Public Company Accounting Reform Law (Site not responding. Last check: 2007-11-07)
		The board can investigate potential violations of accounting rules, professional standards, and securities laws and impose sanctions on any accounting firm or associated person rule-breakers for (a) intentional or knowing conduct, including reckless conduct, that results in any violation of applicable statutory, regulatory, or professional standards, or (b) repeated instances of negligent conduct.
		The Public Company Accounting Reform and Investor Protection Act of 2002 establishes a carefully constructed statutory framework to deal with the numerous perceived conflicts of interest that in recent years have appeared to undermine the integrity of our capital markets, and betray the trust of millions of investors.
		At the same time, public companies, their officers and directors, the accounting industry, and outside securities counsel are all presented with greater responsibilities and intricate rules with which they must now comply.
	www.stpt.usf.edu /jewell/CPA-PubCoAcctRefAct.html (2671 words)

	Secretary-General's Paper on Accounting Rate Reform, November 1996
		Insistence on the use of the accounting rate system may preclude the development of alternative revenue-sharing mechanisms which may be more appropriate to particular types of traffic or particular bilateral relations.
		The ability of regulators to control accounting rate bypass is limited except insofar as the incentive would disappear if accounting rates and collection charges were more symmetric and closer to costs.
		The widening gap between accounting rates and collection charges is an alarming development and indicates that a growing share of the benefits of technical change and service innovation are being retained by the operators, or their shareholders, and not passed on to end consumers.
	www.itu.int /osg/spu/intset/ITUpap/sg_com3.html (3830 words)

	AccountingMalpractice.com
		We know that the accounting and financial world can be complex and nuanced, even for the experienced reporter or researcher.
		There was more evidence Friday that the $545 million accounting scandal in a Refco subsidiary that led to the arrest of former CEO Phillip Bennett was spilling...
		Weighed down by an accounting scandal, a former chief executive under indictment and the possibility of serious trouble with the Securities and Exchange...
	www.accountingmalpractice.com (485 words)

	School Reform News: Accounting Could Be Reform Catalyst (February 1998) (Site not responding. Last check: 2007-11-07)
		A school-level activity-based accounting system is essential for effective management of the education enterprise and will soon be required by new government accounting standards.
		While business accounting systems are designed to help managers make better decisions and allocate scarce resources effectively, government accounting systems generally are designed to reassure taxpayers that their dollars are being spent on approved activities.
		Her recommendation for Pennsylvania is for the state to add activity-based costing to its school accounting requirements so that easy-to-understand and useful cost-benefit information can be produced for management and the public.
	www.heartland.org /archives/education/feb98/accounti.htm (546 words)

	EUROPA - Rapid - Press Releases (Site not responding. Last check: 2007-11-07)
		At the heart of the reform lays a shift from cash accounting to accrual accounting, which gives a clearer picture of true assets and liabilities at any given time.
		Accrual accounting is becoming the norm for public administrations throughout Europe, and the Commission is at the forefront of this development.
		They take account of the difference between capital and non-capital expenditure, and ensure that costs and revenues are recognised in the period to which they relate.
	europa.eu.int /rapid/pressReleasesAction.do?reference=IP/05/313&format=HTML&aged=0&language=EN&guiLanguage=en (481 words)

	Opinion: Welcome accounting reform
		The legislation would restore some faith in the accounting industry and give investors a truer picture of the state of America's publicly traded companies.
		The conviction this month of the auditors, Arthur Andersen, for obstructing justice in the Enron case is a measure of how far the industry needs to change to recapture the confidence of American investors.
		The Bush administration came into office promising to raise ethical standards, and one of its earliest initiatives was a plan to invest a portion of Social Security in stocks.
	www.sptimes.com /2002/06/24/news_pf/Opinion/Welcome_accounting_re.shtml (498 words)

	Online NewsHour Update: Accounting Reform Bill Passes House; Faces Senate Challenge -- April 25, 2002
		The reform bill is designed to protect investors from future accounting and financial deceptions, such as those that occurred at Enron and its former accountant, Arthur Andersen.
		Accounting firms would be restricted from providing certain consulting services to the companies they audit.
		A Democratic version of the bill, rejected by a 219-202 vote, sought tougher restrictions on accounting firms and imposed harsher penalties against executives involved in deceptive financial practices.
	www.pbs.org /newshour/updates/april02/accounting_4-25-02.html (453 words)

	Taxpayers for Government Accounting Reform (Site not responding. Last check: 2007-11-07)
		GAP is an integrated accounting, budgeting, procurement, and property management process that addresses the government's non-integrated policy deficiencies in a manner that is easily explained to both private and public sector accountants.
		For the fourth consecutive year, the General Accounting Office (GAO) revealed in written testimony to the U.S. Congress that it was unable to express an opinion on the integrity of the government's consolidated financial statements -- due to billions of dollars in manual adjustments and material financial system weaknesses.
		TGAR speaks for all taxpayers, demanding an integrated government accounting and budgeting process that works, and incorporates the necessary accounting controls to ensure the integrity of all "generated" -- and not manually manipulated -- government (federal, state, local, foreign) financial statements.
	www.tgar.org /hbbody.htm (293 words)

	Accounting reform plans endangered by Senate Banking Committee Democrats =TheHill.com= (Site not responding. Last check: 2007-11-07)
		The refusal of key Democrats on the Senate Banking Committee to support ambitious accounting industry reforms could sink passage of any accounting reforms - as well as a cornerstone of the Democratic political strategy for the fall.
		But consumer advocates say that reform legislation that doesn't separate auditing and consulting services at accounting firms is meaningless.
		Miller says he wants to see a reform bill that is a mix between the Sarbanes bill and an alternative proposed by Sen. Mike Enzi (R-Wyo.).
	www.hillnews.com /060502/accounting.aspx (808 words)

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