Articles about Accounting

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Toshiba may sell silicon biz to contain fallout of nuke plant problems

A troubled nuclear power station strategy in the USA has Toshiba considering the partial sale of its Japanese semiconductor business. Nikkei (in Japanese) names Western Digital as a potential buyer, along with several investment funds. The company hopes to get between $1.77bn and $2.65bn for a 20 per cent stake in the …

Sage signs X3 trio to cloud 'big business' ERP combo

Salesforce partner Sage Group has signed a trio of firms to its emerging X3 business ERP platform. CLOUT, Atlas Cloud, and BrightBridge are being held up as examples of Sage's ability to handle larger customers' needs with X3. David Watts, Sage's vice president for enterprise in UK and Ireland, said in a statement: "Over the …

Calls for UK.gov's tax digitisation plans to be put on the back burner

The UK government's tax digitisation plan could be delayed by at least a year after the Treasury Committee exposed "serious shortcomings" with the programme. In 2015 Her Majesty's Revenue & Customs (HMRC) was awarded £1.3bn of digital investment over four years, which it said would yield £1bn in extra tax revenue after 2020 by …
Kat Hall, 16 Jan 2017
A businessman in handcuffs

Ex-Autonomy CFO pleads not guilty to charges he inflated the company's value

The ex-chief financial officer of Autonomy, Sushovan Hussain, has pleaded not guilty to charges he inflated the price of his company's $11bn (£9bn) acquisition by Hewlett-Packard. It is the latest development in the ongoing legal spat after HP wrote down the acquisition by a staggering $8.8bn (£7.1bn) in 2012, a year after the …
Kat Hall, 13 Jan 2017
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Happy 20th birthday to the RADIUS RFC

January 2017 marks the twentieth year since the birth of an important Internet Request for Comment – a then-new way to account for customer's use of their then dial-up services. It's been around for so long, El Reg would bet most people would need Google to tell them what RADIUS stands for – Remote Authentication Dial-in User …

Busted Oracle finance cloud leaves Rutgers Uni unable to foot bills

Rutgers University is struggling to pay its bills on time amid a prolonged outage of its Oracle-powered management systems. It is claimed this IT failure led to power outages within its campus after supplies were cut off due to non-payment. The hedgerow-league college, in New Jersey, US, has publicly admitted its Cornerstone …
Shaun Nichols, 03 Jan 2017

Those online ads driving you bonkers are virtually 'worthless for brands'

One dollar of online display advertising will buy you approximately $0.03 worth of actual ads seen by real people, according to Bob Hoffman, a partner in media consultancy Type A Group. Hoffman, who used to run the Hoffman/Lewis Advertising agency, is well known for his skepticism of online ads, a view that has found some …
Thomas Claburn, 03 Jan 2017
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Toshiba faces nuclear power goodwill cost meltdown

Toshiba is facing such horrific cost-overruns with its US nuclear power plant projects it may have to sell assets, such as its flash memory business, to cover them. Its US subsidiary, Westinghouse Electric, is building four AP1000 power-generating reactors in the United States and costs are getting out of hand, with multi-year …
Chris Mellor, 03 Jan 2017

Top-Secret-cleared SOCOM medics hit in 11GB govt database leak

A Pentagon subcontractor has exposed the names, locations, Social Security Numbers, and salaries of US Military Special Operations Command (SOCOM) healthcare professionals. The cleartext and openly accessible database – said to be at least 11 gigabytes in size – also included names and locations of at least two Special Forces …
Darren Pauli, 03 Jan 2017
Dr Strangelove bomb

Microsoft scores nearly $1bn non-compete contract with US military

Updated Satya Nadella’s team will be smiling today after the US Defense Information Systems Agency (DISA) – the IT wing of the Department of Defense (DoD) – awarded his firm a five-year $927m support contract. The deal will give the US military “access rights to Microsoft’s proprietary (closed-source) code” when it is “required to …
Iain Thomson, 21 Dec 2016

Not OK Google: Tree-loving family turns down Page and pals' $7m

It seems that there is something that Google can't buy, beg or steal: a small piece of land right in the heart of its Silicon Valley campus. Like real-life versions of Up's Carl Fredricksen, the Martinelli family refuse to sell their one-acre lot even though the tech giant has offered $7m for it in order to expand its …
Kieren McCarthy, 15 Dec 2016
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MSP Redcentric: Our financial errors are WORSE than we thought

The extent of the financial mismanagement at London-listed managed services outfit Redcentric were outlined today, and they are way worse than the company signalled when the mistakes were first found. The business admitted last month that it has it had made multi-year accounting errors that meant it overstated net assets by at …
Paul Kunert, 14 Dec 2016
Newly passed out 2Lts from 6 RIFLES on Salisbury Plain Training Area. Crown copyright, 2013

Flaws fixed in SAP's police and military software

Three of the 31 patches pushed out by SAP on Tuesday tackle flaws in the ERP giant’s technology for Defense Forces & Public Security. In particular, SAP's Defense Forces & Public Security and SAP Mobile Defense & Security components are susceptible to a missing authorisation check vulnerability. “This issue potentially allows …
John Leyden, 14 Dec 2016

Beancounter nicks $5m from bosses, blows $1m on fantasy babe Kate Upton's mobe game

A California chap says he blew $1m in money stolen from his employer on Game of War, a freemium phone game fronted by swimsuit model Kate Upton. Kevin Lee Co, of Rocklin, has pleaded guilty [PDF] to one count each of wire fraud and money laundering, and admitted to stealing roughly $4.8m from his employer through charges to …
Shaun Nichols, 12 Dec 2016
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Fatal flaw found in PricewaterhouseCoopers SAP security software

A security tool built for SAP systems by PricewaterhouseCoopers has turned out to have worrying security holes of its own. German security research firm ESNC has been analyzing the Automated Controls Evaluator (ACE), which extracts relevant security and configuration data from an SAP system, analyzes it, and generates …
Iain Thomson, 09 Dec 2016
Man looks at his mobile - mildly surprised or shocked about something. Photo by shutterstock

Ugh! Is that your security budget? *Sucks teeth and shakes head*

Organisations spend an average of 5.6 per cent of their overall IT budget on IT security and risk management, according to analyst Gartner. IT security spending ranges from approximately 1 per cent to 13 per cent of the IT budget. Gartner warns that simply looking at the size of security spending - even in comparison to other …
John Leyden, 09 Dec 2016

Sage evaluates sale of North American payments biz

Accounting and payroll firm Sage may offload part of its North American business. The UK firm is evaluating what it called “potential strategic options for the North American payments business", including sale. “There can be no certainty that this evaluation will lead to any transaction,” the firm said in a statement. The …
Gavin Clarke, 07 Dec 2016

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
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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