Articles about Accounting

HPE's first standalone year ticks most boxes – except Donald Trump's

Hewlett Packard Enterprise (HPE) has posted its first full-year results as a discrete entity and says it has ticked most of the boxes it said it would when it spun itself out and then started selling bits of itself off. The headline figures for Q4 aren't brilliant: revenue was US$12.5bn, down 7.7 per cent year on year. GAAP …
Simon Sharwood, 23 Nov 2016

Talend CEO: Profit? We're a few years off... But we're cash-flow positive

Interview Founded in France in 2005, Talend made its initial public offering on the NASDAQ in July, listing as a French company although it's now headquartered in Redwood City, south of San Francisco. It was only the fifth technology IPO of the year, raising questions as to how fruitful the listing might be. But Talend raised $94m, and …

Managed services biz hires 'forensic' beanies to review dodgy accounting

A bean counter and legal eagle are to pick over the financial blundering at managed service provider Redcentric, the London Stock Exchange-listed business has confirmed. The CFO quit last week following the discovery of fiscal errors that would result in sweeping write-downs of historic profits, with the cost of correcting …
Paul Kunert, 16 Nov 2016
A businessman in handcuffs

Former Autonomy CFO indicted in USA for misleading investors

Updated The long-running spat between HP and the company formerly known as Autonomy has taken another turn, with Autonomy's former chief financial officer Sushovan Hussain indicted in a San Francisco court last week. The move was immediately criticised by a collective of former Autonomy executives as the Department of Justice (DoJ) “ …
Ellison with watch photo by drserg via Shutterstock

Why Oracle's Larry Ellison shelled out $9bn for NetSuite

Analysis NetSuite's 18-year run as an independent ERP SaaS provider is over after shareholders approved Oracle's $9.3bn acquisition of the firm. Larry Ellison scraped up a narrow majority of unaffiliated shares to land one of Silicon Valley's early SaaS pioneers. Ellison got 53.21 per cent of unaffiliated shares, 21,775,553. Oracle's …
Gavin Clarke, 07 Nov 2016

Redcentric CFO quits after botched accounts discovered

The chief bean counter at managed services slinger Redcentric has left the business with “immediate effect” following the discovery of multi-year accounting misstatements that will cost a minimum of £10m to rectify. The London Stock Exchange-listed biz made the admission about fiscal errors to the City this morning, and the …
Paul Kunert, 07 Nov 2016
UK pound crashes after Brexit

ESMA urges companies to disclose potential Brexit impact

Listed companies should disclose the potential impact of Brexit in their financial statements, the European Securities and Markets Authority (ESMA) has said. In its annual statement on European common enforcement priorities, which identifies enforcement priorities for listed companies’ financial statements, ESMA "urges issuers …
OUT-LAW.COM, 02 Nov 2016
AMD CEO Lisa Su speaking at the firm's 2015 financial analyst day

AMD is a rounding error on Intel's spreadsheet and that sucks for us all

On Tuesday, Intel said it expects to bank in the final quarter of the year $15.7bn in sales, plus or minus $500m. That's a billion-dollar swing. Two days later, on Thursday, AMD proudly revealed that its entire revenue for the three months to September 24 was $1.3bn. Just over a billion dollars. AMD is little more than …
Chris Williams, 21 Oct 2016
You didn't say the magic word

Rogue sysadmins the target of Microsoft's new 'Shielded VM' security

Virtual machine security is suddenly a hot spot: VMware's building a new product for it and has added new bits to vSphere 6.5 to enhance it. And Microsoft thinks it has found a new way to secure VMs. Let's do Redmond first because its new “Shielded VMs” are one of the headline items in Windows Server and Hyper-V 2016. As …
Simon Sharwood, 21 Oct 2016

Scality flogs RING

Scality grew its RING object storage software revenues 100 per cent year-on-year in the third quarter, with indirect sales accounting for 86 per cent of the revenue. COO and Prez Erwan Menard said: "The open source S3 Server has been a huge success with more than 400 weekly downloads and 3000 downloads since June." Scality …
Chris Mellor, 20 Oct 2016

Spinal Tap’s bass player sues former French sewer

Actor, writer and director Harry Shearer, who played Derek Smalls in the band Spinal Tap, is suing the owners of the movie This Is Spinal Tap over royalties. The 1984 film is often cited as the best comedy of all time. The band was formed in 1978, and was lampooning TV the following year. In his lawsuit, Shearer claims the …
Andrew Orlowski, 18 Oct 2016
Elvis in Las Vegas. EDItorial use only - photo by Maridav via Shutterstock

Casino cops are coming if we can't move all this cash in a hurry

On-Call Welcome again to On-Call, El Reg's Friday foray into readers' reminiscences of things that went wrong in the night. This week, meet “James” who once worked “for a company that provided accounting systems for Las Vegas casinos.” As James reminds us, “Casinos, or 'gaming' as it's called in Nevada, are a 24/7 operation and never …
Simon Sharwood, 14 Oct 2016
A smashed delivery box

What does Amazon have in common with Uber and Lyft? Road rage

Amazon is the latest company to be sued by workers who say they are unfairly being excluded from employee benefits. A class action complaint [PDF] by delivery drivers alleges that Amazon illegally classifies them as contracted workers rather than as employees. In the process, they accuse Amazon of violating minimum wage rules …
Shaun Nichols, 06 Oct 2016
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Cisco hugs sysadmins with a bunch more patches

Cisco's ongoing fix-all-the-things effort has emitted its regular weekly round of patches – and some, like in the NX-OS operating system that powers a bunch of its switches, deserve your attention. There are critical fixes for the NX-OS that powers Nexus switches, and a virtualisation bug in the Nexus 7000 and 7700 switches. …
Robot drives a car. Conceptual illustration from Shutterstock

Upstart bags $2.5m to help put the brakes on self-driving car hackers

Israeli car security startup Karamba Security has banked $2.5m in fresh investment, which it plans to use to extend its technology to autonomous vehicles. The tech will be geared towards protecting engine control units (ECUs) in robot cars from hackers and malware infections. Miscreants typically infiltrate a vehicle by first …
John Leyden, 30 Sep 2016
Cloud server room. Photo by Shutterstock

Big data and the cloud: It's not even that scary

Sysadmin blog Once all the marketing is cleared away, just what is big data, and how does it help real businesses of all sizes? Marketing would have us believe that big data is new, huge, terrifying, complicated, impossible without their help and yet will deliver unmatched benefits. Like many things in tech, however, big data is really just …
Trevor Pott, 30 Sep 2016
A Starship bot face-tp-face with a pensioner on the street

Pisspoor IoT security means it'd be really easy to bump off pensioners

Two things are fixed on everyone's minds when it comes to the Internet of Things: security and law. How does industry overcome the threats posed by these two hurdles? Speaking at yesterday's Cambridge Wireless IoT event in London, Max Heinemeyer from Darktrace was all in favour of automating away the security problems. He …
Gareth Corfield, 29 Sep 2016
Mr Freeze

Sage advice: Avoid the Windows 10 Anniversary Update – it knackers our accounting app

Accounting software developer Sage has warned that the Windows 10 Anniversary Edition may break your Sage 50 installation. In an advisory circulated to customers on Tuesday, Sage says the latest version of Microsoft's operating system can create a conflict that leaves people unable to access their Sage accounts. Essentially, …
Shaun Nichols, 28 Sep 2016
Windows 10 by Anton Watman, image via Shutterstock

Official: Windows 10 has hit the 400 million device mark

Microsoft’s self-installing Windows 10 operating system has reached the 400 million mark, the firm announced at its Ignite conference in Atlanta this week, up from the previous high of 350 million in August. This adoption rate means the firm’s self-imposed target of a billion devices by mid-2018 looks increasingly unlikely, …
Dan Robinson, 27 Sep 2016

The Great British domain name rip-off: Overcharged .uk customers help pay for cheaper .vodka

UK domain name holders are being overcharged while the company behind it wins contracts by undercutting the market in what may be illegal market abuse. In recent months, Nominet has signed a number of contracts with commercial operators of dozens of internet extensions ranging from .boston to .vodka. More deals are in the …
Kieren McCarthy, 26 Sep 2016
Oracle corporate HQ

Oracle lawyers prevail in copyright case (No, not that, the other one)

Oracle has been awarded $46.2m in its copyright battle with Rimini Street. The Nevada Federal Court awarded the cash [PDF] to cover the legal bills Oracle has racked up in its years-long battle with Rimini – which repackaged and sold support services for Oracle products without a license. The federal court also put in place a …
Shaun Nichols, 22 Sep 2016
Photo by 360b / Shutterstock

Despite IANA storm, ICANN shows just why it shouldn't be allowed to take over internet's critical functions

Internet overseer ICANN has responded to allegations of mismanagement, opaque decision-making, and an institutional lack of accountability by launching a review. That review, however, will not touch on the most serious charges leveled at the organization, including the fact that its staff deliberately misled companies seeking …
Chris Williams, 22 Sep 2016
OpenResty Logo

WTF is OpenResty? The world's fifth-most-used Web server, that's what!

Netcraft's September survey of the world's most prevalent web servers turned up something interesting: a dip for all major servers but a sudden spike for OpenResty. Open what? OpenResty is a superset of the nginx web server, but bundled with LuaJIT, a just-in-time compiler for the Lua scripting language. We've not covered Lua …
Simon Sharwood, 20 Sep 2016

'Google tax' already being avoided, says Australian Tax Office

The Australian Taxation Office (ATO) has warned that the nation's attempts at imposing a "Google Tax" are already being circumvented, and suggested big accountancy firms have found a way around efforts to stymie multinational tax avoidance. Australia's Google Tax, formally known as the Multinational Anti-Avoidance Law (MAAL), …
Simon Sharwood, 15 Sep 2016
People whispering

US Congress blew the whistle on tax-dodging Apple, claims Europe

It was US Senators that tipped off the European Commission to unusual accounting practices at Apple which lead to its €13bn ($14.5bn) back-tax penalty. That's according to EC Competition Commissioner Margrethe Vestager who told the Copenhagen Business School her team was pointed to potential illegal tax breaks in Ireland by …
Shaun Nichols, 09 Sep 2016
Array in a rack. Image via Shutterstock

Wikibon sticking to server SAN takeover idea

The August 2016 Wikibon report "Server SAN Readies for Enterprise and Cloud Domination" repeats the message of its Server SAN Research Project 2014 report, saying that "storage is moving inexorably from traditional storage arrays to Server SAN in a server rack." The report summary says the world-wide Server SAN market added $1 …
Chris Mellor, 05 Sep 2016
Bookshelf in the British Library basement

Lightspeed PoS vendor breached, sensitive database tapped

Point of sales vendor Lightspeed has been breached with password, customer data, and API keys possibly exposed. Lightspeed has notified customers in an email saying that the information was contained in a compromised database but was not confirmed to be stolen. It boasts more than 38,000 customers transacting $12bn annually …
Darren Pauli, 02 Sep 2016
ianatlas_robot_648

Replacing humans with robots in your factories? Hold on just a sec

The integration of robots into production processes will impact on traditional liability arrangements and raise a range of other legal issues for manufacturers to consider, including in relation to health, safety and data protection. A rise in the number of robots in operation might also prompt social and ethical dilemmas that …
OUT-LAW.COM, 30 Aug 2016
The Mosque at the Taj Mahal, shot from within the Taj Mahal through the marble screens

Indian techies told to prepare for tax sprint

National Goods and Services Tax means everything needs tweaking India recently introduced a national goods and services tax (GST)* and the nation's techies are now scrambling to prepare for its implementation. Each of India's states previously levied their own GST at their own rates, which rather complicated matters for …
Simon Sharwood, 23 Aug 2016

New UK trade deals would not compensate for loss of single market membership

Analysis The UK could lose out on a 4 per cent boost to gross domestic product (GDP) if it was no longer a member of the EU single market, with particular repercussions for the financial services industry, according to an influential think tank. The 4 per cent figure is based on the UK defaulting to membership of the World Trade …
OUT-LAW.COM, 18 Aug 2016

Accountancy software firm Sage breached in apparent insider attack

Accounting software outfit Sage Group has been hit by a data breach affecting between 200 and 300 of its customers. The company told Reuters the breach was a misuse of an employee login. This post by Richard De Vere at “The AntiSocial Engineer” claims an employee was behind the breach. Sage says it doesn't know how much data …
drug dealer

Post-Silk Road, Feds bust chaps for 'dealing heroin, coke' on world's largest dark web souk

Two men from Brooklyn in the US have been indicted on charges of selling heroin and cocaine on AlphaBay – believed to be the world's largest dark web marketplace. Abudullah Almashwali, 31, and Chaudhry Ahmad Farooq, 24, were cuffed on August 2 after agents bought packages of the drugs from members of the Tor-hidden souk …
Iain Thomson, 12 Aug 2016
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The developer died 14 years ago, here's a print out of his source code

On-Call Welcome again to On-Call, our Friday wallow in jobs that are nastier than yours. This week, reader “Earl” tells us that just this year he responded to “a Craigslist ad for a Novell NetWare Admin to figure out why .nlm files would not be loaded and fix the issue.” Earl says he “wrote back and told the person that I was very …
Simon Sharwood, 05 Aug 2016

IBM: Illegally Bleeding Mortgages (...allegedly)

IBM has found itself in the crosshairs of the US government after one of its subsidiaries has been accused of financial fraud. A lawsuit [PDF] filed in the US District Court of Southern New York accuses both Big Blue and its Seterus loan servicing company of taking more than $13m from Fannie Mae in reimbursements it was not …
Shaun Nichols, 04 Aug 2016
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Liberata in £43m buyout by Japanese firm OUTSOURCING Inc

OUTSOURCING Inc (OSI) – a Japanese player that does what it says on the tin – has acquired UK public sector BPO specialist Liberata for £43m. The buyer is has spread its tentacles via more than 70 subsidiaries into outsourcing across multiple industries including engineering, manufacturing, administrative and recruiting. …
Paul Kunert, 02 Aug 2016
 People photographing bollywood actor Vivek Oberoi with smartphones

Smartphone sales stall at ~3.5 million per day

Smartphone sales have just about stalled at the disappointing figure of about 3.5 million a day, each and every day of the year. Analyst firms Canalys and IDC last week both released the results of spreadsheetery covering the year's second quarter, both finding sales ticked up a million or so compared to 2015's second quarter …
Simon Sharwood, 01 Aug 2016
Ink hands

What's ordered in Vegas, doesn't stay in Vegas? $6.7m of printer ink 'stolen by office worker'

A Las Vegas woman stole printer ink worth $6,715,531 from her employer and sold it to a reseller on the other side of America, it is claimed. When Jennifer McCain-Bray worked as a purchasing analyst for the Las Vegas Valley Water District – a public utility – she ordered millions of dollars of extra printer ink and toner, had …
Iain Thomson, 30 Jul 2016
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Google and Microsoft are playing catchup with AWS's cloudy power

AWS continues to dominate the cloud infrastructure market but Microsoft and Google are growing faster than the book-punting behemoth, research from Canalys shows. None of which will be much comfort to the hardware vendors who have been wrong-footed by the speed at which the cloud has been embraced by their traditional business …
Joe Fay, 29 Jul 2016
Google's Sundar Pichai, speaking at Google I/O 2015

Google, er, Alphabet takes on 10,000 more staff, banks more and more billions from ads

Alphabet, the holding company for Google and the Chocolate Factory's other concerns, has reported strong growth in the second quarter ending June 30, with revenues up 21 per cent from this time last year. Google made up the vast majority of this revenue, accounting for $21.3bn for the quarter, with the other parts of Alphabet …
Iain Thomson, 28 Jul 2016
Cloudy server conceptual illustration. Photo by Shutterstock

Larry Ellison's Oracle swallows Larry Ellison's part owned Netsuite for $9.3bn

Database titan Larry Ellison’s Oracle is slurping NetSuite - a company he and his family already own a big slice of - for a cool $9.3bn (£7bn) to help him compete better with Salesforce, another firm he part owns. The buy will see Oracle splash $109 per share on the first ever purveyor of software clouds: NetSuite was set up …
Kat Hall, 28 Jul 2016
Two beer glasses clash and splash frothy beer into the air. Cheers! Photo by Shutterstock

BOFH: Free as in free beer or... Oh. 'Free Upgrade'

Episode 10 "I TOLD you, I HATE working on printers!" I seethe at the Boss. "It's just a bit of configuration," he wheedles, trying to make me feel better. "It's not a bit of bloody configuration, it's translation - from IT into printer manufacturer speak." The Boss is in a pickle. The printer company cretin came crawling around and …
Simon Travaglia, 22 Jul 2016
Microsoft CEO Satya Nadella

Microsoft Azure doubles up to $800m a quarter – and is wiped out by dying phone sales

Analysis All eyes were on Microsoft's cloud business today as it published its fourth-quarter and full-year financial results. Amid the numbers, Redmond boasted that its Azure revenues from the quarter were up 102 per cent year-on-year – we estimate the cloud service's revenue to be about $800m in total for the period. Meanwhile, …
Iain Thomson, 20 Jul 2016

If we can't find a working SCSI cable, the company will close tomorrow

On-Call Welcome again to On-Call, our Friday fumble through memories of jobs on which things didn't go as planned. Or sometimes went in ways it's not possible to plan. This week, meet “Jean” who in the early noughties scored a gig as “a fairly new-to-the-game support engineer for a shifter of overpriced household furniture.” Jean …
Simon Sharwood, 15 Jul 2016
Barracuda_cloud_sea

Barracuda picks teeth after chowing down on cloud market

Revenues grew 11 per cent year-over-year to $86.7m in Barracuda’s first fiscal 2017 quarter, confirming its return to growth. Net income was $2.8m. Recurring subscription revenue grew to $65.3m, up 20 per cent from $54.3m in the year-ago quarter and 75 per cent of total revenue. Appliance revenue though, was down, at $21.3m, …
Chris Mellor, 08 Jul 2016
Large leaver switch on a board of push button switches

Sage hires de Rojas

Accounting software biz Sage has hired industry veteran Jacqueline de Rojas as the boss of northern European ops. She is set to join from Citrix, which is facing its own problem since activists investor Elliot Management invested and grabbed a seat on the board. de Rojas is also president of TechUK. In a past life, the exec …
Paul Kunert, 06 Jul 2016
Tupperware image via Shutterstock

One container to rule them all? No. Um, a plastic box* refresher

Analysis Containers are the cool toy meaning two things: new technology and hype. At heart, containers are simple: group the minimum set of files needed to run a particular program into a single directory tree, then run it with some kind of isolation mechanism, so that as far as that process is concerned, it's the only thing on the …
Liam Proven, 05 Jul 2016

Larry Ellison, Oracle and litigation: A business that's not a business

Analysis Oracle's chalked up yet another stunning courtroom loss. In May, the database giant failed in its bid to have Google stump up $9bn on Android and stake a sweeping claim over APIs and how they're broadly used. And now, this week, Oracle was ordered to pay Hewlett-Packard Enterprise (HPE) $3bn for reneging on a commitment to …
Gavin Clarke, 01 Jul 2016

Hackers: Ditch the malware, we're in... Just act like a normal network admin. *Whistles*

Hackers almost exclusively use standard network admin tools to move around a compromised network once they’ve broken in using malware or other hacking techniques. Researchers at security startup LightCyber found that 99 per cent of post-intrusion cyberattack activities did not employ malware, but rather employed standard …
John Leyden, 30 Jun 2016
Sun shines on the clouds. Photo by Shutterstock

Oracle: Cloud-first for 12.2 update – on-prem world will have to wait

Oracle is cranking up the pressure on customers to consume its wares as-a-service by initially distributing the updated 12.2 database on a cloud-only basis. Talk of the shift - that will prevent the company’s existing installed base of on-premise punters from accessing new multi tenancy functions - was first spotted across the …
Pennies in a jar. Photo via Shutterstock

Technology shares slide with Brexit vote, except ARM

BREXIT Shares in British technology companies are mostly sliding after citizens of the United Kingdom voted for the nation to leave the European Union. The FTSE 100 fell more than 8 per cent at opening this morning, slicing over £100bn off of the market capitalisation of the UK's most highly rated bluechips, although this has since …