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Articles about Accounting

Tech distie Tech Data tears up last THREE years of profit numbers

IT distribution giant Tech Data has ripped up its financial results for the last three years after discovering errors in its UK subsidiary's accounts. The company revealed this morning it will recalculate the figures and publish new reports as a result of uncovering mistakes in "vendor accounting" by its Brit biz Computer 2000 …
Paul Kunert, 22 Mar 2013
The Register breaking news

Scots council cops £100K fine for spaffing vulnerable kids' data ONLINE

UK data privacy watchdogs have fined Aberdeen City Council £100,000 after a council employee published vulnerable children's details online. The sensitive social services information was released after a council worker accessed documents, including meeting minutes and detailed reports, from her home computer. A file-transfer …
John Leyden, 02 Sep 2013

Phoenix IT Group is FIGHTING BACK

A fightback has begun at beleaguered Phoenix IT Group after the services provider confirmed it has at last filled the vacant CEO post and is proposing a share placement to pay down debts. It is 17 months since previous top dog Dave Courtley called it a day at Phoenix, but finally the Northampton-based firm has lured in former …
Paul Kunert, 12 Mar 2014

Phoenix IT group's profits turn to smoking pile of ashes

Managers at the beleaguered Phoenix IT group haven't had much luck in fiscal '13, with personnel changes, accounting woes and the flatlining economy all weighing heavily on them. The meagre fruits of their labour were laid bare yesterday. Phoenix made an underlying profit from operations of £19m in the twelve months to 31 March …
Paul Kunert, 04 Jun 2013
channel_teaser_exit

Tech Data suspends four amid accountancy probe

Four middle managers in the finance function at Computer 2000 have been suspended as the distributor continues to investigate improprieties into vendor accounting errors. Back in March Tech Data, parent of UK arm C2000, revealed it would restate results for fiscal 2011, '12 and some or all of '13 that could wipe out between $25m …
Paul Kunert, 17 May 2013
management analysis3

Tech Data granted one more stay of execution by NASDAQ

The NASDAQ Panel has granted Tech Data a final extension until the end of March to get its accounts up-to-date or face an embarrassing and costly de-listing. The tanker-sized wholesaler confirmed this in a brief filing today that it had until the 27th of that month to report restated results for each quarter in fiscal '14 ending …
Paul Kunert, 09 Dec 2013

Android holds steady as iOS and Windows Phone slip in Kantar reports

The closing months of 2013 saw Android gain ground on rivals in much of Europe and the US, as iOS and Windows Phone saw mixed results in the global market. Research firm Kantar Worldpanel reported that Android grew its market share in key countries in Europe, as well as the US and China, in 2012. Amongst the 'EU5' group of Great …
Shaun Nichols, 28 Jan 2014
Panasonic_plasma

Panasonic throws in towel on plasma tellies, preps for BILLION-dollar kick in pants

Panasonic is reportedly planning to pull out of the plasma TV business by the end of the financial year. The TV market has proved more and more unprofitable for once-dominant Japanese consumer electronics firms and Panasonic was expected to give up on the plasma display industry at some point, though its exit is sooner than …

We'll miss SEC financials deadline, says accounts-blundering Tech Data

Tech Data has warned it will fail to report its fiscal first-quarter financial numbers to the US Securities and Exchange Commission on time due to a continuing investigation into its accounting errors. The channel biz has 45 days from the end of April to file the paperwork, but says it will sail through that deadline. The world …
Paul Kunert, 11 Jun 2013

Misco set to snap up Phoenix's network ops centre AND its staff

Phoenix IT Group is set to offload its network operations centre in High Wycombe to Misco, TUPEing across six staff in the process. The lease on the building is expected to be assumed by direct marketing reseller Misco, which, under the guidance of former Dell exec Pim Dale, is trying to rely less on tin shifting by building a …
Paul Kunert, 14 Feb 2014
Scotland

Capita and Updata ink £325m Scottish PSN deal

Capita and Updata Infrastructure UK pipped BT and a joint bidding team from Vodafone and Virgin Media to scoop up the mega Scottish Wide Area Networking (SWAN) framework gig. The nine-year contract, valued at £325m, involves building and running a public sector network to be accessed by up to 4,600 sites in the country, …
Paul Kunert, 17 Feb 2014
hands waving dollar bills in the air

Microsoft's Fast charged with 'accounting fraud'

Norwegian economic crime police have raided the headquarters of Microsoft-owned Fast Search and Transfer and charged the firm with accounting fraud. Police attorney Baard Thorsen told Reuters that evidence was being sought following allegations that Fast inflated its revenues prior to Microsoft’s $1.2bn buyout of the company in …
Kelly Fiveash, 16 Oct 2008

OFT probe: Do small UK firms get fair shake in public sector tenders?

Armed with data provided from suppliers and public sector IT bods, the Office of Fair Trading will now launch a probe into the state of the government tech landscape and whether SMEs are getting a fair share. Back in July, the competition watchdog put out a call for information as bids to discover if competition is alive and …
Paul Kunert, 15 Oct 2013
Virgin Media Central Headend

Tough times in the server market, even though more iron moved in '13

The market dynamics were all wrong for folk building and supplying server boxes in 2013 - in the year that shipments reached a record nine million milestone, factory revenues tumbled. IDC is the second beancountery in as many days to publish less than flattering stats, with unit sales rising 3.2 per cent on calendar '12 but the …
Paul Kunert, 27 Feb 2014
channel_teaser_exit

Chief leaves Brit IT giant Phoenix after just 15 months

Phoenix IT Group chief exec Dave Courtley has quit the firm after less than 15 months in the role, the LSE-listed IT services company confirmed this morning. The former Fujitsu Services bigwig rocked up at Northampton-based Phoenix in July 2011 replacing long-serving boss Nick Robinson, who stepped down after 18 years at the …
Paul Kunert, 04 Oct 2012
Suitcase bulging with cash

Tech Data execs: Nooooo... It's the INCREDIBLE SHRINKING payslip

It's tough at the top. Just ask senior execs at distie titan Tech Data, who took home a smaller pay packet in fiscal '13 as sales and profits slipped. But don't feel too sorry: CEO Bob Dutkovsky made $4.2m in total comps for the financial year ended 31 January, down 2.5 per cent from $4.31m in the previous 12 months. His base …
Paul Kunert, 07 Feb 2014

Feds charge man in $1m 'Dr Evil' scam to blackmail Mitt Romney

A Tennessee man has been charged over a high-profile extortion and wire fraud scam involving former Republican presidential candidate Mitt Romney's tax returns. Michael Mancil Brown, 34, of Franklin, Tennessee faces six counts of wire fraud and six counts of extortion over his alleged involvement in a plot to blackmail Romney …
John Leyden, 01 Jul 2013

Chromebooks, phones ... how PC maker Asus hopes to stay in the black

Trade has been brisk for Taiwanese slab-cum-notebook builder Asustek, but the shine has not yet returned to its financial figures. According to fresh paperwork filed by the company, sales for the third quarter of 2013 came in at NT$107.44bn ($3.6bn, £2.2bn), a slide of four per cent on the same period a year ago but a gain of 19 …
Paul Kunert, 14 Nov 2013

Whew! 13-year-old lawsuit finally over, but it did smack our bottom line - Micron

Micron’s business is booming with first quarter 2014 revenues surging to $4.04bn. The quarter finished in 28 November and its revenues were "42 per cent higher compared to the fourth quarter of fiscal 2013 and 120 per cent higher compared to the first quarter of fiscal 2013". Net income wasn’t anywhere near as impressive at …
Chris Mellor, 08 Jan 2014
iPad Mail app

Tab for Xmas, Mr Consumer? Yes please. And Mr Busin... NOPE

The slab revolution in UK consumer land continued over Chrimbo but many biz customers are still struggling to justify wider deployments and most of those that did steered well clear of Windows 8. Disties shipped a total of 1.5 million tabs in Q4, a hike of 53.1 per cent on a year ago. Some 16.4 per cent of these went via biz …
Paul Kunert, 26 Feb 2014

MPs back call to boycott low-taxed tat from Amazon over Xmas

Eight MPs are backing a call in Blighty for Christmas shoppers to boycott the convenience haven of Amazon after its aggressive tax avoidance regime in the country. Ethical Consumer magazine has launched a campaign to get people to stop using the mega-etailer over the holidays and politicians including Margaret Hodge, chair of …

Blighty's SFO 'not conflicted' on Autonomy numbers probe

Blighty's Serious Fraud Office has said that there's no conflict of interest in its criminal investigation into Autonomy, despite reports that the SFO itself uses the firm's document management tool Introspect. The SFO was called in to look into allegations from new owners HP of accounting irregularities and misrepresentations …
Nokia Lumia 520

Pre-Xmas phone numbers: Apple slips, Windows Phone grabs 1 in 10 new sales

Microsoft's smartphone gains in Europe haven't been matched in the world's two biggest markets, the USA and China, according to the latest Kantar tech panel. The survey shows Windows Phone maintaining 10 per cent of new sales across the five biggest European markets in the three months ending in November - and Windows Phones …
Andrew Orlowski, 08 Jan 2014
gavel_judgment_channel

HP knew Autonomy was a duff buy, claim HP shareholders in $1bn suit

HP ignored numerous warning signs about the state of Autonomy's finances and accounting irregularities at the firm before acquiring it for $11bn, shareholders have alleged in a $1bn lawsuit. The investors are suing HP's current CEO Meg Whitman, her predecessor Leo Apotheker, former HP chairman Ray Lane and Autonomy founder Mike …
Samsung Galaxy S III

Samsung is officially the WORLD'S BIGGEST smartphone maker

Samsung outsold every other smartphone maker combined during the third quarter of 2013, according to IDC. The consumer device maker shifted 81.2 million smart phones, giving it 31.4 per cent of the market and increasing its share by nearly half. Apple, Huawei, Lenovo and LG between them scraped up 69 million units. Nokia, the …
Gavin Clarke, 29 Oct 2013
Microsoft Surface bomb

Microsoft advertises Surface, Excel with maths mistake

Microsoft's Surface tablets have again embarrassed the company's bottom line, this time after failing to calculate a simple one accurately. The problem was spotted by folks at Apple Insider who noticed a San Francisco billboard advertising Redmond's latest tablet. When they peered at it closely in the image below, they noticed …
Simon Sharwood, 11 Nov 2013
Tech Data

IT distie Tech Data must end accounts-unbungling probe within a fortnight

NASDAQ-listed Tech Data has less than a fortnight to get its accounts in order and financial filings up to date, the distributor acknowledged last night. The Florida-based broadline IT distribution giant discovered whopping great errors in its finance records at UK subsidiary C2000 back in March, which were related to blunders …
Paul Kunert, 13 Sep 2013

Ellison ditches own cloud keynote for billionaires' America's Cup boat race

Oracle OpenWorld turned into Oracle SnubWorld on Tuesday, when Larry Ellison ditched his hotly anticipated speech on Oracle's cloud strategy so that he could watch his boat race in the hugely expensive America's Cup. The swap-out of Larry Ellison for senior product management veep Thomas Kurian was met first with muffled …
Jack Clark, 24 Sep 2013

Nokia's phone division burned us so badly we HAD to flog it, says CEO

Nokia’s smartphone strategy was unaffordable, the company’s chairman said at an extraordinary general meeting today, defending the €5.44bn sale of the phones division to Microsoft. Nokia had called the EGM to seek shareholder approval for the deal. The EGM drew a far larger crowd to the Helsinki Ice Hall than was usual, some 5, …
Andrew Orlowski, 19 Nov 2013
Snapchat logo

Snapchat vows to shut its hole in wake of 4.6 million user data breach

Mobile image-sharer Snapchat has promised an update to its service to seal off a security hole that allowed hackers to harvest the account details of some 4.6 million users. The company said that its update will allow users to opt out of the Find Friends system and prevent others from looking up their account information through …
Shaun Nichols, 04 Jan 2014

Mighty Cisco terminates British channel chum Phoenix IT Group

Cisco has confirmed it was the unnamed vendor that gave top certified services partner Phoenix IT Group its marching orders last week - a move which sent the Phoenix share price tumbling by around 11 per cent. Northampton-based Phoenix resold Cisco kit as a Gold partner but also provided third party maintenance bolted onto Cisco …
Paul Kunert, 05 Nov 2013
Twitter for Mac Old

Twitter may sue US government over right to disclose snooping orders

Twitter says that the current compromise allowing tech companies to disclose some of the data requests orders made in secret by the US intelligence services isn't good enough, and it may sue to get the right to be more transparent. "We think the government’s restriction on our speech not only unfairly impacts our users' privacy …
Iain Thomson, 07 Feb 2014

Trustmarque bags £19.5m refinance package from HSBC

Fresh from its recent management buy-out, services-based licensing reseller Trustmarque Solutions has signed a £19.5m refinancing deal with HSBC. The package was confirmed today a little over a month after top brass at the York headquartered Microsoft Licensing Solutions Partner inked a deal with new VC backer Dunedin to …
Paul Kunert, 18 Jul 2013
sea_hp_sink

HP wanted to offload Autonomy on SAP, says SAP co-chief

HP tried to offload Brit software house Autonomy onto German giant SAP sometime before last month, it is claimed. Bill McDermott, co-chief exec of SAP, told the UK's Times that the firm had been approached by HP after it was told the business was "available", but SAP wasn't keen on the idea. "We were aware that it was on the …
Spooky angel doll

Hey, G20. Please knock it off with the whole tax loophole thing - we're good guys, really

A tech lobbying group has written to the OECD to try and stop the G20's efforts to close loopholes that let international firms legally avoid some of their taxes. The Digital Economy Group's letter was published by the think-tank along with other documents both for and against reforms to international tax laws, ahead of a …

SEC asks Affiliated Computer Services to step aside, snaps on rubber glove

The Securities and Exchange Commission is probing bean counting methods used by Xerox tentacle Affiliated Computer Services. In a filing, the copier monster confirmed the SEC has been "conducting an investigation of certain accounting practices" at ACS, an outsourcing and data centre management player that Xerox forked out $6. …
Paul Kunert, 08 Oct 2013
Yahoo! CEO Marissa Mayer and CFO Ken Goldman

Yahoo! boss! Mayer! sez! soz! for! lengthy! mail! outage!

Yahoo! chief Marissa Mayer appeared to be furious with her company late on Friday when she took to the Purple Palace's official Tumblr blog to apologise to users of its email service, who were locked out of their accounts for several days. "This has been a very frustrating week" she said, before adding "we are very sorry." …
Team Register, 16 Dec 2013
management project5

Your CIO is now a venture capitalist and you work at their startup

Chief Information Officers are about to start behaving like venture capitalists, complete with an “I don't care if nine things I try fail so long as one goes really well” mentality. And what's more, their bosses will love it when they do so. That's one of the findings from consultancy Deloitte's 2014 Tech Trends report, released …
Simon Sharwood, 27 Feb 2014

Microsoft took away $4m of our profits, laments mighty reseller

The cost of redundancies and restructuring together with the biting changes Microsoft made to sales incentives almost wiped out the profit that Insight Enterprises made in EMEA during Q4, closing the curtains on a year of change. The reseller titan reported a five per cent regional sales spike to $397.6m in the final quarter of …
Paul Kunert, 13 Feb 2014
hands waving dollar bills in the air

New accounting rules to juice IT numbers

The US Financial Standards Accounting Board, which makes the rules that bean counters use to juggle the books, last week approved a new rule about revenue recognition for systems that could cause a brief bump in hardware sales for some IT suppliers based in the United States or using US accounting rules. FASB ruled on a number …

AMD avoids a red-ink-stained quarter for once, market says 'meh'

Perennial chip challenger Advanced Micro Devices (AMD) has posted a profit for the third quarter of 2013, a turnaround that has failed to excite investors. The good news is that AMD hauled $US1.46bn through the door during the quarter, which means it was in the black by $95m, or 0.06 per share, according to generally-accepted …
Simon Sharwood, 18 Oct 2013
wine

Vintage WINE laid down in SIXTEEN HUNDRED BC was 'psychotropic'

The people of ancient Canaan were far more bibulous than anyone has previously suspected. Boffins have dug up 3,700-year-old wine jugs from an ancient cellar in a large Canaanite city called Tel Kabri, which is not far from the vineyards of modern Israel. The wine was flavoured with honey, mint, cinnamon bark, juniper berries …
Jasper Hamill, 22 Nov 2013

Two million TERRIBLE PASSWORDS stolen by malware attackers

Researchers have uncovered a massive cache of stolen account credentials which could impact some two million users. Security firm Trustwave said that its SpiderLabs reconnaissance team has detected a malware operation which has been able to pilfer account credentials on infected machines and build an archive of lifted passwords …
Shaun Nichols, 04 Dec 2013
Remy from Ratatouille

It's the Shiz: Mutant RAT spotted gnawing at SAP apps

Cyber-crooks are making the first steps towards using advanced malware to target mission-critical corporate ERP applications, such as SAP. A new variant of the well-known Shiz remote access trojan (RAT) searches infected systems for the existence of SAP applications. Previous versions of the malware were designed simply to …
John Leyden, 06 Nov 2013

Smartphones set fair to OUTNUMBER HUMANS - Ericsson

The growth in smartphone devices has now overtaken that of conventional handsets, accounting for 55 per cent of new mobile subscriptions in the first nine months of 2013. That's according to a new study by telecoms hardware maker Ericsson. Overall globally, the Swedish multinational reckons there were 4.5 billion people …
Shaun Nichols, 12 Nov 2013

Only the Chinese can save us now, trill server vendors

HP put more distance between itself and global server rivals in Q4 amid a mini recovery in shipments, mostly driven by demand from internet companies and the mega mobile network carriers in China. And it was even more apparent looking at the quarterly numbers why IBM quit the Intel-based system space and pushed its division into …
Paul Kunert, 03 Feb 2014
management research

UK Serious Fraud Office queues up to probe HP's Autonomy allegations

The UK Serious Fraud Office has told The Register it is investigating allegations of accounting irregularities at Autonomy, the Brit software house gobbled by HP for $10.7bn in 2011. In November last year, Hewlett-Packard claimed Autonomy "outright misrepresented" its value in the months before its acquisition, causing HP to …
Gavin Clarke, 12 Mar 2013

Flash biz and virtual database chum: Our tests show we bust spinning rust

A flash array speed merchant and database virtualisation firm have got together to run a benchmark that shows their disk array brethren eating their dust. Delphix takes a master database and makes virtual copies of it for whomever needs them, including accounting types, big organisations trying to control data spread, and …
Chris Mellor, 20 Sep 2013
management strategy4

Toshiba upheaval continues as firm scraps EU country managers

Executive veep for Toshiba's European PC and TV biz Andy Bass has split after 24 years' service following another major restructure. Back in the spring of 2011, Toshiba stitched together its computing and TV businesses in a bid to make some cost savings, but the move didn't quite work out. "We lost that crispness, that focus …
Paul Kunert, 31 Jan 2014
The Register breaking news

UK.gov coughed over £2 MEELLION in data breach fines in the past year

The total number of self-reported* data breaches in the UK increased from 730 between March 2011 and February 2012 to 1,150 in a similar period in the year up to early March 2013. The lion's share of the fines paid out originated from the public sector. A Freedom of Information (FOI) request to the Information Commissioner’s …
John Leyden, 25 Apr 2013