March 2008

MYOB UK sold to Wolters Kluwer

March 31, 2008 General

Surprise, surprise: this turned up in my email earlier today: Good Afternoon Earlier today our parent company, MYOB Limited signed an agreement for the sale of its UK Accountants Division and Ireland operations to Wolters Kluwer UK. This change is part of MYOB Limited’s strategy of refocussing its efforts on further enhancing its strong position [...]

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Is the time right for wholesale change in audit?

March 31, 2008 General

Prem Sikka’s argument that: …the very model of company audits is flawed. It permits company directors to hire and remunerate auditors, albeit with shareholders rubber-stamping their decisions. Under the model, profit-seeking auditing firms are expected to regulate capitalist enterprises. As no one can make a profit without appeasing or accommodating clients, auditors can never be [...]

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10 signs you need a new accounting system

March 31, 2008 General

I’ve shamelessly ripped this title off from a great blog post by Bill Kennedy along with his top 10 signs: 10. The service technician keeps threatening to retire9. “Reconciliation” is your middle name8. You ask for “proficiency in DOS” when hiring staff7. When calling Support you hear laughter in the background6. Salesmen no longer call [...]

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My del.icio.us bookmarks for March 31st

March 31, 2008 Asides

These are my del.icio.us bookmarks for March 31st: The worst financial report ever? – And the UK thinks it has problems with auditing its own stuff? Check this from the US. Mind boggling. Overtime Pay for PwC Audit Associates? – Careers – CFO.com – This time in California – they're obviously taking their cue from [...]

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The next big thing – digestion

March 31, 2008 General

Over the last couple of weeks it seems there has been a dearth of ‘new’ or rather interesting things to comment upon. Perhaps we’re in that period that Jeff Nolan describes as ‘the new incrementalism’ where: As I survey the landscape of consumer and business focused software and service providers I am struck by how [...]

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How does FASB 161 help?

March 31, 2008 General

I see from CFO.com that Charles Mulford, a professor of accounting at Georgia Tech thinks that FASB 161 will help avoid the obfuscation that characterized Enron’s public financial statements. I hope he’s right but I doubt it. The perennial problem with derivatives is fixing a valuation upon which an auditor can rely. To quote from [...]

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My del.icio.us bookmarks for March 27th through March 29th

March 29, 2008 Asides

These are my del.icio.us bookmarks for March 27th through March 29th: Business Technology : SAP Sued Over Tech Jargon – SAP could be in for a pounding on this one if ther fraud allegations stick. The thing about useful stuff is: Buzzword – an impressive online word processor – Another online wordprocessor. Great it may [...]

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My del.icio.us bookmarks for March 25th through March 27th

March 27, 2008 Asides

These are my del.icio.us bookmarks for March 25th through March 27th: Time to Start Eating Our Own Dog Food | Know your RSS from your elbow – the bpodr blog – messiahs of connectivity and conversation can often appear lost with their heads buried up to their shoulders in their lower intestines. – what a [...]

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The end of the software suite?

March 27, 2008 Cloud Computing/SaaS

There have been rumblings here and there about whether the on-demand software suite might replace the behemoth systems usually found today. Yesterday, I came across this piece on Sandhill by Michael A Braun, CEO of Intacct which purports to support the thesis. Apart from the fact it is appallingly written, the case it makes is [...]

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