YOU ARE HERE: LAT HomeCollectionsAccounting


September 6, 2013 | By Martin Eichner
Question: My wife and I moved out of a house that we were renting. We gave the owner a proper 30-day written notice. It has now been more than 30 days since we vacated and turned over the keys to the owner. We knew that we were supposed to receive the refund of our security deposit within 21 days after we vacated, so we recently contacted the owner. He apologized and said he hadn't returned our deposit because he had lost our forwarding address. Is this an acceptable excuse for ignoring the 21-day rule?
April 24, 2014 | By John Horn
NEW YORK - As parents of young girls and as two of Hollywood's most prolific producers, Kathy Kennedy and Frank Marshall believed that "Columbine," journalist Dave Cullen's exhaustive investigation of the 1999 school massacre, contained compelling and often untold stories that needed to be shared with a larger audience. So when the book was published five years ago, the producers of "Lincoln" and "The Bourne Identity" purchased its rights, hoping to turn "Columbine" into a feature directed by "The Social Network's" David Fincher.
October 10, 2010 | By Shan Li, Los Angeles Times
The gig: Sharon Allen guides the strategy and overall direction of Deloitte, one of the country's big four accounting firms, in the position of board chairman ? a title she prefers to "chairwoman. " The 58-year-old executive spends 75% of the year flying around the country and the world, advising key clients and maintaining the company's visibility. With 37 years at the firm under her belt, she's a business veteran and the highest-ranking woman in the history of the big four. She also sits on the global board of directors of Deloitte Touche Tohmatsu.
April 22, 2014 | By Salvador Rodriguez
AOL Mail has changed its policies to prevent spammers from sending messages out of addresses that are made to look like real AOL email accounts. The company announced the change Tuesday afternoon after numerous users took to Twitter to complain that their accounts were being used to send spam and that changing their passwords was not resolving the issue. Some users complained that spam was being sent from AOL accounts that had been deleted. That was possible because the spam messages were not being sent from users' actual accounts.
August 18, 2010 | By Shan Li, Los Angeles Times
Troubled Los Angeles clothing company American Apparel disclosed Tuesday that the U.S. attorney's office in New York City is investigating its abrupt change of accounting firms. Deloitte & Touche resigned as American Apparel's accountant and was replaced by Marcum, the company recently announced. Peter Schey, an attorney for American Apparel, said the company received a subpoena seeking documents and other records "a few days ago. " The change of accountants "was definitely not anything sinister," Schey said in an interview.
December 1, 1997 | Associated Press
China has begun a review of its accounting firms and plans to close a handful by 1999 in a reform drive, the Business Weekly newspaper reported. Lax accounting regulations are considered a potential hindrance to further investment in China. Last month, securities regulators accused eight newly listed companies of exaggerating their profit-making potential in their prospectus, the report said.
March 1, 2003 | From Bloomberg News
Adelphia Communications Corp., whose founder was indicted on fraud charges, said it changed its accounting policies after an internal review found that former management had improperly booked labor and overhead costs. Adelphia treated costs associated with doing everyday busi- ness as capital expenditures rather than operating costs, which allowed it to deduct them over time rather than all at once, according to a filing with the Securities and Exchange Commission.
October 7, 1998 | P.J. Huffstutter
General Automation Inc., the troubled Irvine software-support services firm, said Tuesday that its auditor, McGladrey & Pullen LLP, has refused to continue working as its accountant. Because of errors in General Automation's internal accounting system, McGladrey & Pullen LLP withdrew and restated its 1997 financial reports for the Orange County firm. Price Waterhouse LLP, the company's former auditor, also withdrew and restated its 1995 and 1996 reports.
July 1, 2004 | From Bloomberg News
Cardinal Health Inc., the second-biggest U.S. drug wholesaler, said Wednesday that federal regulators subpoenaed documents in a probe of the company's accounting. Cardinal is conducting its own inquiry and is responding to the Securities and Exchange Commission inquiries, the statement said. Company spokesman Jim Mazzola declined to comment further. The announcement was made after U.S. markets closed. Shares of Cardinal, which closed up 55 cents to $70.05, fell as low as $61.
September 16, 2005 | From Bloomberg News
Hurricane Katrina, though catastrophic and unforgettable, was not an "extraordinary" event for financial reporting purposes, according to the accounting industry's standards board and the nation's largest accountants group. The American Institute of Certified Public Accountants advised its members this week that because a hurricane is a natural disaster "that is reasonably expected to reoccur," the losses it causes shouldn't be considered extraordinary in bookkeeping.
April 21, 2014 | By Salvador Rodriguez, This post has been updated, as indicated below.
You've got (spam) mail. Several AOL users are complaining on Twitter that their email accounts have been hacked and are being used to send out spam to others. Multiple users have said that their accounts have been affected despite not being used in a long time. Among them is Los Angeles Times Food Editor Russ Parsons. "I've gotten a couple of emails from friends telling me that my AOL account had been hacked and that they were getting spammed by it. The thing is, that account has been closed for at least two years," Parsons said in an email.
April 20, 2014 | Liz Weston, Money Talk
Dear Liz: I am trying to help my retired parents refinance their home. Currently they are paying over 8% interest. (This loan should be illegal.) The problem is their credit score, which is around 536. They had a tax lien in 2004 (it has been paid off for over four years) and some minor credit card issues. The total card debt is less than $1,000. I see several bad footnotes on these cards. Some of the cards have a balance of less than $100. What is the best and fastest way to help them get the mortgage they deserve?
April 20, 2014 | By Donie Vanitzian
Question: Our homeowner association's president explained to our board how the budget process actually works. She said: "You start by working out how much you can get out of the homeowners, then you go to the Budget and Reserve Study to figure out how to get that result. The reserve study company will work with us by doing a couple of go-arounds to get us to the result we want. " Am I being naive to think the job of a reserve study company is to come up with realistic numbers, instead of numbers that fit the board's agenda?
April 18, 2014 | By Scott Martelle
It didn't last long, but for a short time in the 1840s the Mississippi River town of Nauvoo was the largest city in Illinois. While most municipalities thrived on trade, Nauvoo's propelling force was something much less tangible: faith. And that would also be the city's downfall. Before the fledgling Church of Jesus Christ of Latter Day Saints - the Mormons - made Salt Lake City the center of their earthly existence, they had settled in Nauvoo, following their founding prophet Joseph Smith.
April 17, 2014 | By Paresh Dave
The mayor of Peoria, Ill., might have saved his Police Department and a handful of residents some grief if he had just joined Twitter. Instead, someone set up a phony but official-looking Twitter account in the name of Mayor Jim Ardis and proceeded to tweet about drugs, sexual exploits and even crack-smoking Rob Ford, the disgraced Toronto mayor who's seeking reelection. Although Twitter suspended the account, the fraud was reported to the Peoria Police Department, which launched an investigation because the account impersonated a public official, a misdemeanor punishable by up to a year in jail, Police Lt. Willie King Jr. told The Times on Thursday.
April 13, 2014 | Chris Megerian and Melanie Mason and Hailey Branson-Potts
Two conflicting eyewitness accounts emerged Saturday as investigators delved deeper into the cause of the horrific collision between a truck and a charter bus that killed 10 and cast a pall over a college-acceptance trip to Humboldt State University. A driver who was sideswiped moments before Thursday evening's fatal accident said she saw flames coming from beneath a FedEx freight truck as it veered across a grassy median toward disaster. A man who lives next to Interstate 5, however, said he saw no flames from the truck before the crash and watched the twin-trailer FedEx vehicle swerve out of control after it made an abortive attempt to move into the fast lane.
February 1, 2002 | James Flanigan
The current rage on Wall Street over accounting and the quality of corporate earnings is a little like a hangover victim swearing never to touch another drop. Big investors have known for years that company accounts have been mildly or even seriously fictional. And yet that made little difference in their investment decisions. But clear and credible accounting is making a difference now, in the wake of Enron's collapse amid disclosures of hidden debts and overstated profit. Investors this week dumped stocks of companies deemed guilty of obscure accounting or understating liabilities in their financial reports.
May 6, 1992 | Associated Press
A federal judge Tuesday ordered an accounting of Mike Tyson's boxing income since 1989 and how much was paid to his former manager, Bill Cayton. The former heavyweight champion and Cayton, whose contract expired in February, are suing each other, both claiming they have been shortchanged by the other. The accountant "shall not make any findings as to the proper or appropriate allocation of any such amounts, nor shall he determine what contracts are enforceable," the order said.
April 8, 2014 | By Matt Pearce
If you've ever wanted to read a 20,000-word story about Edward Snowden, you'll get your chance pretty soon. The former National Security Agency contractor -- and currently world-famous intelligence leaker -- has been granting more and more interviews since he absconded with agency documents and sought asylum in Russia last year after sharing those documents with journalists. Idolized and reviled by many, one of Snowden's newest appearances in the spotlight will come in a long narrative story about his leak (and life thereafter)
April 7, 2014 | By Adolfo Flores
An ATM in Maine spewed out $37,000 in cash to a man who began stuffing the bills into shopping bags. South Portland police received a report that a man had been lingering at an ATM for an unusually long time last week. When officers arrived they found that he was grabbing cash by the fistful and cramming it into bags. “He showed the officers and said 'Yeah, this is my bag of money,'” Lt. Todd Bernard told the Los Angeles Times on Monday. But that was not the case. The 55-year-old man had emptied his account of its $140.
Los Angeles Times Articles