Articles about Accounting

management governance3

The blessing and the curse of Big Data

Sysadmin blog Companies more familiar with technology are more likely to use the reporting and analytics features of their software. This isn't something new, and it didn't start with computers. Computers make reporting and analytics easier, but every business needs hard data if they are to grow. Back in the day, "reporting and analytics" …
Trevor Pott, 01 Jul 2015

Sales slip at fine-hit CSC after firm escapes from the NHS

Sales at US computer giant CSC dropped 8.7 per cent to $2.95bn (£1.9bn) for its third quarter - around $150m (£98.6m) below what the company had hoped. The company also recorded an income loss of $313m (£206m) for the third quarter, which was affected by pre-tax pension-related charges of $462m (£303m) and a $195m (£128m) charge …
Kat Hall, 10 Feb 2015

Microsoft: Even cheapo Lumias to get slimmed down Windows 10

The “next chapter” in Windows is coming to Microsoft's cheapo, mass-market Lumia phones. Microsoft is working to get Windows 10 working on devices with just 512MB RAM, including the Lumia 520. The news was tweeted by Microsoft operating systems group vice president Joe Belfiore on Sunday. Just one catch: small memory means …
Gavin Clarke, 09 Feb 2015
management regulation1

Banks slap Olympus with £160 MEEELLION lawsuit

Just when it thought the dark days were behind it, camera purveyor Olympus has been slapped with a ¥28 billion (£160m) lawsuit from six trust banks over a long running accounting scandal. In a brief note on the company’s website, Olympus said it had received notice from the banks’ lawyers that they are seeking ¥27.9bn in …
Phil Muncaster, 10 Apr 2014
The Register breaking news

Accounting software gets better at languages

Workshop Businesses have become accustomed to software products like MS Office which can be switched between languages (although Word's US English can be stickier than a handful of superglue when you want to select another language). But when it comes to the financials modules in enterprise resource planning (ERP), the multi-lingual …
Shenzhen downtown

Apple storms to top spot in stagnant Chinese phones market

Apple is now the top smartphone seller in China, topping foreign and domestic competitors alike in the Middle Kingdom, but overall Chinese handset sales fell for the first time in six years. A report from IDC citing sales in the first quarter of 2015 found that the Cupertino idiot tax operation has taken over the top spot on the …
Shaun Nichols, 11 May 2015
One of New Zealand Post's commemorative Hobbit coins

Kiwi 'ccountancy cloud collects colossal cash casket

New Zealand software-as-a-service (SaaS) accounting software Xero has announced an injection of $NZD180m in funding, much of it it from US-based venture capitalists. The new fund raising is earmarked to “support continued global growth”. Xero's already growing quite nicely, thank you very much, having won more than 211,000 …
Simon Sharwood, 13 Oct 2013

Tech Data: We need ethics, and we've found the right man

It comes to something when a corporation is forced to appoint a chief ethics and compliance officer but that is exactly what distributor Tech Data has done, weeks after completing its costly accounting investigation. Fourteen-year company veteran Jean-Paul Durand – who most recently served as TD's vice president, assistant …
Paul Kunert, 18 Feb 2014
A large hand flicks an icon of a little red man. Image via shutterstock (Lasse Kristensen)

CSC picks up the axe yet again, eyes 800 staffers' quivering necks

Exclusive CSC is preparing to axe almost 800 staff in the UK and Ireland in what it is calling a "Get Fit" phase, with current proposals to transfer some of these positions to near-shore and offshore centres. Bloodletting is a seemingly annual custom for the scandal-hit ailing integrator. It is just over a year since CSC put 750 workers …
Graph of US dollar going up CC 2.0 https://www.flickr.com/photos/68751915@N05/ 401kcalculator.org.

Surging dollar value brightens Tech Data’s European revenues

The unfavourable forex rate leaving US vendors with a damp patch on their financial results in Europe ironically might have helped Tech Data in its opening quarter of fiscal 2016. The world’s second largest tech distie reported sales of $5.8bn for Q1 ended 30 April, down 12 per cent year-on-year, but better than Wall Street …
Paul Kunert, 29 May 2015

Daisy Group offers to gobble Phoenix IT Group for £133m

Acquisitive B2B tech and comms player Daisy Group has bid 160 pence per share for LSE-listed Phoenix IT Group valuing the services operation at around £133m. Talk of a deal has rumbled along for more than a year but with Phoenix in the middle of a three-year turnaround plan under the latest CEO and no longer reporting steep …
Paul Kunert, 21 May 2015
Red Hat

Wall Street tips fedora to Red Hat: Sales up, profit flat, everybody dance

Red Hat's shares are on the up after the Linux distro maker beat Wall Street's expectations in its fourth financial quarter, ended February 28. The North Carolina biz reported revenues up 16 per cent during the three-month period, compared to the same period the year before, and up 17 per cent for the whole year, even accounting …
Iain Thomson, 26 Mar 2015
Internet Meme: text says Integrate all the Things

It's sales boom time for (some) converged infrastructure vendors

The world’s great enterprise hardware vendors are in a dog fight – to dominate the buoyant market for converged infrastructure. Global sales in Q1 2015 totted up to $2.1bn, up 8.3 per cent year on year, according to IDC. It is highly competitive out there, says Kevin M. Permenter a research analyst, who covers enterprise …
Drew Cullen, 26 Jun 2015
Yahoo!'s Q4 2014 earnings conference call

Yahoo's! Mayer!: We'll! spin! off! $40bn! Alibaba! stake! and! pay! ZERO! tax! on! it! Ha!

Yahoo! has announced plans to sell off all of its remaining stake in Chinese online giant Alibaba, even as its latest earnings report shows a company struggling to pull in revenue on its own. The Purple Palace said on Tuesday that it will spin off all of its remaining holdings in Alibaba – some 384 million shares worth an …
Neil McAllister, 28 Jan 2015

HP: Autonomy overstated 2010 profits, cuts them by 81 PER CENT

HP has filed at the UK's Companies House the results of an audit of the 2010 financial results of two of Autonomy's eight divisions, which says that the UK software firm's revenues were actually just 54 per cent of its initially stated figure, and that their profit figure for the year needs to be cut by a whopping 81 per cent. " …
Iain Thomson, 04 Feb 2014
The Register breaking news

Dell pays $100m to settle accounting fraud charges

Dell has agreed to pay $100 million to settle US Security and Exchange Commission charges that it failed to disclose information to investors and used fraudulent accounting practices to give the false impression it was meeting Wall Street earnings targets. Separately, Michael Dell – the company's founder, chairman, and CEO – …
Cade Metz, 22 Jul 2010
channel

Coda wafts accounting software onto Salesforce.com's cloud

Veteran accounting software outfit Coda has made a jump into the cloud by pooling its online offering with Salesforce.com. The companies become joint owners of Financialforce.com. This will have headquarters in Silicon Valley and Yorkshire, and will encompass the existing Coda 2go operation, running on Salesforce.com's force.com …
Joe Fay, 30 Sep 2009

Satyam Computing Services founder jailed over $1.4 BILLION fraud

The founder of former Indian outsourcing biz Satyam Computer Services has been jailed for six months for cooking the company's books to the tune of $1.4bn. The case has been rumbling on since Ramalinga Raju intially admitted the fraud in 2009 – a scandal that has been described as "India's biggest corporate fraud case", …
Kat Hall, 10 Dec 2014
management cio2

Daisy Group: Yep, we're gonna eat you all up, Phoenix IT Group

Directors at Phoenix IT Group are “unanimously” backing the 160-pence-per-share offer that was formally made by Daisy Group this morning, valuing the entire share capital at close to £135m. Discussions between LSE-listed Phoenix and the suitor were made public last week, leaving Daisy 28 days to come back to the table with a …
Paul Kunert, 27 May 2015

What just went down on Intel for three months? Er, PC and mobile chips

Intel announced its earnings based on its new financial reporting structure for the first time on Tuesday, but despite having lumped its ailing Mobile & Communications unit in with its PC Client business, there was no hiding that the three months ended on March 28 were a tough quarter for Chipzilla. Total revenue for the first …
Neil McAllister, 14 Apr 2015
Prison window

Ha ha, fooled you! Shares tumble over G4S fake website profit warning

False rumours of a profit alert and executive dismissals put the skids under G4S shares on Wednesday. A bogus statement was emailed to journalists falsely stating that the security service firm had discovered accounting errors. The false warning (suggesting G4S profits would be restated) was sent out in an email containing a …
John Leyden, 13 Nov 2014

Autonomy's ex-chief beancounter tries to kill HP investor settlement

Autonomy's former chief financial officer has sought to block HP from settling three shareholder lawsuits over its botched acquisition of the British software company. The former exec claims HP will use the settlements to "forever bury" its supposed culpability in the calamitous buy. Sushovan Hussain, who served as Autonomy's …
Jack Clark, 21 Jul 2014

IBM System x biz sales: The numbers are out... and they're not pretty

The extent of the slide in System x sales in Blighty during the final year under IBM ownership was laid bare today, and the eye-watering declines were bad: bad meaning bad, not bad meaning good. The UK server market didn't exactly enjoy a vintage fourth quarter; spending declined 5.3 per cent to $503m and unit shipments went …
Paul Kunert, 05 Mar 2015
Maybe it won't look like this

Move over, Apple Pay: Tesco trials PayQwiq phone-flash pay app

Supermarket, virtual mobile network and bank that is very bad at accounting Tesco has new way for you to pay for your box of Celebrations: a digital wallet called PayQwiq. The service, which uses QR codes, is being trialled in Farringdon, the nearest branch to Vulture Central and 15 other Express stores in London as well as 26 …
Simon Rockman, 24 Sep 2014
Scrooge McDuck

While AMD, Apple et al thrash around, chippery fat-cat TSMC is grinning all the way to the bank

Chip-baking industry heavyweight Taiwan Semiconductor Manufacturing Company (TSMC) emerged from another quarter of gangbusters year-on-year growth on Thursday, even as it reported flat revenue from the previous sequential quarter and it warned that the next quarter might be somewhat less spectacular. The firm – which fabs chips …
Neil McAllister, 17 Apr 2015

HP blasts $5.1bn sueball at ex-Autonomy execs, Lynch preps return fire

As it has long threatened to do, HP has sued two former Autonomy executives, accusing them of impropriety related to the two companies' financially disastrous 2011 merger. The Palo Alto, California firm filed suit against Autonomy cofounder Mike Lynch and former CFO Sushovan Hussain at the High Court in the UK on Monday, over …
Neil McAllister, 31 Mar 2015
Capita kebab shop in Waterloo

No, Australian Small business AREN'T flunking out online

The Australian Bureau of Statistics yesterday released new data on “Business Use of Information Technology” and I expect that any moment now it will be seized upon as evidence the nation's businesses are technology laggards. That's not the best interpretation of the data. Let's explore why. The numbers that will most excite the …
Simon Sharwood, 18 Jun 2015
Graph of US dollar going up CC 2.0 https://www.flickr.com/photos/68751915@N05/ 401kcalculator.org.

30 per cent of servers, storage and switches now sold to clouds

Three in ten servers, storage arrays and ethernet switches are now being sold to clouds, either private or public, says abacus-wielder IDC. The company's Worldwide Quarterly Cloud IT Infrastructure Tracker for 2014's fourth quarter found that “total cloud IT infrastructure spending grew by 14.4% year over year to $8.0 billion”, …
Simon Sharwood, 20 Apr 2015
Cthulu springs from desktop printer

BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?

Episode 13 Cthulu springs from desktop printer "This is exactly what I'm talking about!" I snap at the PFY. "Specifications created by people with absolutely no knowledge of what they need so they specify the absolute top-end kit just in case!" "What's that, then?" the PFY asks, looking up from his game disinterestedly. "The bloody …
Simon Travaglia, 22 Nov 2014

Remember SeaMicro? Red-ink-soaked AMD dumps it overboard

Tattered AMD says it's done with its SeaMicro server division, following a grim quarter that saw the ailing chipmaker weather losses beyond the expectations of even the gloomiest of Wall Street analysts. In guidance issued alongside AMD's earnings report for the first quarter of its fiscal 2015, CFO Devinder Kumar said the …
Neil McAllister, 16 Apr 2015

Forget the accountancy scandal, our biz is back: Tech Data

If companies operate as intended then sales growth should be a given, and with its accountancy scandal pretty much behind it Tech Data reported business as usual for the fiscal third quarter that ended last month. The world’s second largest tech distributor reported a 6.1 per cent hike in sales to $6.76bn, largely aided by …
Paul Kunert, 27 Nov 2014

You've just woken from a 3-year coma. Cloud is everywhere. So how are you gonna make your millions and retire?

Collision 2015 It wasn't that long ago that when you wanted decent software you went to a retail store like Staples and bought a cardboard box with a CD inside. Then slowly we moved to downloading software and now it's hard to imagine anyone carrying a box to a counter when they can sit in their office or at home with a computer and a …
Kieren McCarthy, 06 May 2015
cloud_accounting2

Strategy-flinging No 10 civil servant Stephen Kelly turns Sage CEO

A top government civil servant is trading control of the nation’s IT for leadership of Sage Group, the giant accounting software firm that turns over £1.32bn a year. Stephen Kelly is stepping down as UK government chief operating officer to become chief executive of the accounting software firm in November. Kelly will succeed …
Gavin Clarke, 06 Aug 2014

Mouse-slinger Logitech: Gloves are off, number probe over

Human-computer interface slinger Logitech’s three month self-examination into suspected financial blunders has concluded and the outcome could have been worse, much worse. The keyboard, mouse and pointer slinger said in May that it, along with the SEC, was conducting a probe into previous financial restatements regarding …
Paul Kunert, 04 Sep 2014

ICANN banked $60m from dot-word auctions. Just what exactly is it going to spend it all on?

The chairman of ICANN has finally been pushed into revealing his plans for the $60m the domain-name overseer has banked from auctioning off the rights to dot-words. The $60m (£40m) – or $58,819,832 to be precise – was raised from organizations competing to set up registries for new generic top-level domains like .ping ($1.5m), . …
Kieren McCarthy, 17 Apr 2015
xfinity wifi

Strange tale of an angry bean counter, Comcast and a shock 'firing'

A Comcast customer who complained about being overcharged and crap service alleges someone at the ISP got him fired as a result. The punter, described by The Consumerist as an "experienced accountant at one of the nation’s most prestigious firms," signed up with America's largest ISP in 2013 at an introductory rate, but said …
Iain Thomson, 08 Oct 2014
Game of Thrones

The Internet of Things becomes the Game of Thrones in standards war

There is an "internet of things" standards war coming and Z-Wave will emerge triumphant, at least according to two of its leading advocates. Despite a number of high-profile setbacks in recent weeks, interim chair of the Z-Wave Alliance Raoul Wijgergangs and Alliance Board member Avi Rosenthal are (as you'd expect) confident …
Kieren McCarthy, 21 May 2015
Gun and dollars

Ex-Autonomy execs: HP's latest wad blows apart fraud allegations

Another week, another round in the ongoing bunfight between HP and the former management team of Autonomy. This time, the ex-Autonomy bods have claimed that new court documents filed by HP prove the latter has misrepresented the reasons why it had to write down $8.8bn in its botched acquisition of Autonomy in 2011. In a lengthy …
Neil McAllister, 12 Sep 2014
Bank vault

Intuit halts TurboTax filings after states spot mass tax fraud scheme

Accounting software maker Intuit has temporarily suspended the ability of its TurboTax software to electronically file US state income tax returns following reports of widespread suspicious activity. "During this tax season, Intuit and some states have seen an increase in suspicious filings and attempts by criminals to use …
Neil McAllister, 07 Feb 2015
Air traffic control at NATS

US air traffic control 'vulnerable to hackers' says watchdog

US air traffic control systems are potentially vulnerable to hackers, according to an audit by the American government. A report [46 pages, PDF] by the Government Accounting Office (GAO) faults the Federal Aviation Administration (FAA) for failing to meet compliance with the relevant government standards, specifically the …
John Leyden, 09 Mar 2015
Bitcoin is the future of money CC 2.0 by Jonathan Waller https://www.flickr.com/photos/whitez/

The world's first proper Bitcoin exchange will be live in a month

Bitcoin will officially enter the mainstream financial world next month when New York State's Department of Financial Services (NYDFS) publishes a regulatory framework for the virtual currency, allowing virtual currency exchange itBit to become the first-ever legitimate Bitcoin bank. The NYDFS will publish its final "BitLicense …
Kieren McCarthy, 29 Apr 2015
Surface 3 in red

Microsoft dumps ARM for Atom with cut-price Surface 3 fondleslab

Pic + vid Microsoft's brief flirtation with ARM-powered Windows RT tablets looks to be over: the Redmond giant has unveiled its latest fondleslab, the Surface 3, which is a dinky Atom-powered slate running a full version of Windows on Intel hardware. Up until this latest tablet, Surfaces have sported ARM-compatible processors, and Surface …
Iain Thomson, 31 Mar 2015
A garden gnome depicted stretched out across picnic table... with a pipe in one hand while the other props him up. Has a confrontational look in his eye...

Groupon flees from army of angry GNOMES: Trademark bid for 'Gnome' tab scrapped

Groupon has given up its pursuit of the trademark "Gnome", intended for its sales register tablet, after being chased off by the open-source GNOME project. The upstart voucher flinger told The Register that it was no longer looking to trademark "Gnome" in the wake of outrage from folks at the Linux desktop software foundation of …
Shaun Nichols, 11 Nov 2014

Can you recover your data if disaster strikes? Sure?

Disaster recovery is complicated and usually expensive. It comes in many forms, and many companies mandate a minimum of off-site backups for various reasons, from regulatory compliance to risk aversion. Disaster recovery planning is considered to be part of standard IT best practices today, but which solutions are appropriate …
Trevor Pott, 07 Apr 2015
£10 notes. Pic: Howard Lake

Sun shines on Datatec despite Logicalis' sales 'n' contract woes

It was the Westcon distribution arm that kept the tills ringing for parent Datatec, as integrator sub Logicalis was struck by a “significant” contract loss in Blighty and weaker product reselling. Across the group – which also includes consultancy Analysis Mason – revenues leapt by 13.3 per cent to $6.4bn for fiscal ’15, ended …
Paul Kunert, 13 May 2015

Sony boss: Nork megahack won't hurt our bottom line

Sony’s chief exec Kazuo Hirai has predicted no major financial impact on the entertainment conglomerate after the recent cyber-attack on its Sony Pictures movie studio division. "We are still reviewing the effects of the cyber attack," Hirai told reporters at the Consumer Electronics Show in Las Vegas, Reuters reports. "However …
John Leyden, 08 Jan 2015
Swiss Cow

Magic streaming beans? Sure, have my cow - music biz

"Why do people keep buying CDs?" we asked in 2009, after a decade of declining plastic sales. And the year after. Yet no matter how many times it was pronounced dead, the CD just wouldn't die. Figures from industry group BPI show the plastic relic remains a market favourite – and surprisingly is proving more resilient than …
Andrew Orlowski, 02 Jan 2015
E Fun Nextbook

Walmart's $99 crap-let will make people hate Windows 8.1 even more

Walmart, that well-known purveyor of the finest America has to offer, will flog a $99 Windows 8 tablet for this year's Black Friday. Youtube Video As you'd expect at that price, the E Fun Nextbook is an utter dog: it has a 1.8GHz Intel Atom processor with 1GB of RAM – the bare minimum for Windows 8.1 to function. The tablet …
Iain Thomson, 14 Nov 2014

Our system handles £130bn and it's BUST. Want the job of fixing it? Apply to UK.gov

The Department for Work and Pensions (DWP) has identified "technical and security vulnerabilities" in its £284.9m central benefits payment system - responsible for underpinning the much-maligned Universal Credit programme and processing 13 million payments each week, The Register can reveal. The Central Payments System's …
Kat Hall, 20 Nov 2014

Danwood CEO: No more M&A disco watching for us

Danwood no longer wants to be the loner at the edge of the M&A dance floor as romance blossoms between local rivals, especially now its finances suggest it isn’t destined for the scrapheap. The document services specialist was unable to get in on the action during an extensive round consolidation that saw SCC, Xeretec and …
Paul Kunert, 05 Mar 2015