The American Chemistry Council has recently updated its invaluable work on US polymer chain inventories. Last December this led the blog to conclude that we would see ” a strong H1 “, as inventories were low, whilst demand was likely to rise supported by seasonal and stimulus factors. But the ACC’s latest analysis (above) leads to a less optimistic conclusion

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US consumer demand growth stalls

There’s nothing worse than the appearance of regulatory infrastructure and enforcement without the consistent and forceful execution of that regulatory mandate…

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@Going Concern “Do Prospective Inspections of Broker-Dealer Auditors Present An Opportunity?”

The global money center banks are masters at managing financial reporting. Regulators repeatedly feign surprise at balance sheet sleight of hand, prestidigitation at the expert level intended to buy time until the banks can grow out of the black hole that bubble lending put them in. They announce their quarterly results, with all the details – they don’t even try to hide them anymore – and they’re ignored or the con is traded on for short term profits

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Watch Banks Pull Rabbits Out of Hats, Ably Assisted by Their Auditors

My new column is up @Going Concern: Non-compete, non-solicitation and confidentiality clauses are common in professional services. You were probably asked to agree to them when you signed your offer letter and will be asked to sign again to get a severance payment…You may have signed an overly broad, onerous list of conditions that seemingly shackle you

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@Going Concern “Compete, Solicit, Tell Secrets: Is It Legal? Is It Wise?”

My new column is up @Going_Concern: Be very wary if asked to participate in a pre-inspection file review and you’re asked to add evidence of reviews and signoffs, insert documents after the fact, change conclusions or recreate analyses. Last week Going Concern reported the latest findings of the UK version of the PCAOB, the Audit Inspection Unit

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@Going Concern “Getting It Right Eventually Doesn’t Count: The Perils Of Pre-Inspection File Polishing”

California Lawyer has a feature this month on “Ponzi’s Auditors” and I have two nice quotes. I’m talking about auditors’ responsibility for detecting fraud under SAS 99 and the doctrine of “in pari delicto” as it relates to the AIG case against PwC currently under review by the New York Court of Appeals

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McKenna Quoted In California Lawyer Magazine

The SEC did not issue a press release for this rule. Chairman Shapiro did not mention it in her July 27 speech that discussed actions the SEC was taking in response to the passage of the financial regulatory reform bill

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Auditors Say Jump… New “Appeals” Process Will Impede Timely PCAOB Inspection Reports

Edith Orenstein over at the FEI Blog gives a quick rundown of all the interesting panels and speeches this week at the American Accounting Association (AAA) Annual Conference in San Francisco. I was invited to participate on Panel 7.5: “Operating an Accounting Blog,”Moderated by: Bill McCarthy, Michigan State University.

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re: The Auditors at the American Accounting Association

On Thursday August 5th, I covered the PCAOB’s Open Meeting and wrote up a report for the FEI Blog. I’d like to make a few more comments about the meeting yesterday. I was both surprised and very pleased when Chairman Goelzer announced that he’ll request Congress to amend Sarbanes-Oxley to open the PCAOB’s disciplinary proceedings to public view, in line with the SEC.

Link:
Guest Post @FEI Blog: PCAOB Open Meeting August 5th, 2010

Regulators seized the Ravenswood Bank of Chicago on Friday, bringing the number of closures this year to 109. The Wintrust Financial Corporation’s Northbrook Bank and Trust Company of Northbrook, Ill., will assume all of the deposits of the two branches of Ravenswood Bank, the Federal Deposit Insurance Corporation said.

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Ravenswood Bank Becomes the 109th to Fail This Year

It was not enough, it seems, for Alan Greenspan, the former Federal Reserve chairman and a self-described lifelong Republican libertarian, to call for stringent government regulation of giant banks, as he did a few months ago.

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Greenspan Calls for Repeal of All the Bush Tax Cuts

Accountants Marketing Tips are heavily based on the influences on their client base and this is certainly the dawn of change. Marketing Accounting Services these days is all about Relationship Marketing and Attraction Marketing in …

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Marketing for Accountants are you Building your Online Brand …

Pakistan forecast more heavy rains across the country this week threatening renewed flooding after 12 million people were affected and crops were damaged in the deadliest floods in over eight decades.

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Pakistan Forecasts More Rains as Floods Hit 12 Million People

Rubber futures may climb to a 25- month high as supply in Thailand, the largest exporter, lags behind growing demand because of bad weather, according to Von Bundit Co., the country’s biggest producer.

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Rubber May Reach 2-Year High on Short Supply, Von Bundit Says

Futures are very popular with investors, which can be considered the home of commodities -linked exchange trade funds. The way this works is that this type of fund will buy futures with leverage, but they will only offer a small part of …

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Exchange Traded Funds America's Latest Sizzling Commodity | what …

As the leader of a community organization dedicated to developing a local living economy that creates greater community wealth for all, I can safely say those are numbers we cannot ignore. Why should we listen to the advice and cries …

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Reducing New Mexico's carbon emissions = economic sense …

401k Investing Advice – Make Sure You Avoid These Mistakes The recent economy has created an opportunity for learning for all investors. Despite the access to quality 401k Investing Advice , many investing mistakes have been made that …

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401k Investing Advice ? Make Sure You Avoid These Mistakes …

During taxing period or even financial year, the company has to come across several difficulties in showing the detailed statement of accounts to the auditors but with the help of NJ accounting services there is no need to worry anymore. … The accountants at an NJ accounting firm offer clear details about the making of balance sheet, profit and loss account, financial credit reports and billing statements to the investors, creditors and the general public at large

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Articles-Updated.Com » Nj Accounting: Get Rid of Accounting Blues …

Quickbooks Accounting – Things You Can Expect From an Outsource Accountant . by IRS Relief Admin on August 9, 2010. The Quickbooks accounting software is becoming to be one of the most popular products in the business realm.

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Quickbooks Accounting – Things You Can Expect From an Outsource …

Wheat was the focus last week for commodity markets and for equities where commodity groups’ shares rose sharply, but some big food groups saw their share prices come under pressure. … Chicago Board of Trade (CBOT) September and December wheat contracts both fell by the maximum 60c, a day after finishing at the maximum daily gain.

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Commodities: Wheat Down Friday, Up Overall – Commodities Roundup …

Surely, you wish to hire the services of an accountant who can deliver the results on time. It is very important for your business to operate in a faultless way so that your organization is at the forefront in the market.

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Retail Accounting: Your Accounts Management Woes are Lessened and …

Story here from the Boston Globe . (H/T ECM) Excerpt: Last week, Little, 61, was one of 10 members of a Christian medical team — six Americans, two Afghans, one German, and a Briton — who were gunned down by the Taliban, which accused the volunteers of spying and trying to convert Muslims to Christianity. The victims — doctors, nurses, and logistics personnel — were found shot to death Friday near three vehicles in woods just off the main road that snakes through a narrow valley, provincial police chief General Agha Noor Kemtuz said.

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Taliban forces kill 10 unarmed members of Christian medical charity

At the beginning of 2010 the unemployment rate had grown considerably and some reports even claimed that as many as 9 million jobs in the USA alone would not be reinstated when the economy improves. Traditionally the advice that most …

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Is it Really Worthwhile to Have an Online Income Business?

I mentioned the FOMC in the Weekly Summary and Schedule post, and here is some more … From the Financial Times: Fed set to downgrade outlook for US The Federal Reserve is set to downgrade its assessment of US economic prospects when it meets on Tuesday to discuss ways to reboot the flagging recovery. ..

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FOMC Meeting on Tuesday

2 trillion economy has triggered the sense of investment in India. The IMF report because of the belief in a report by an independent body be established to the to monitor growth of the Indian economy . Positive numbers for the …

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Foreign investment in India, a reminder of the IMF and reports …