Monthly Archives : June 2014

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California Recognizes Bitcoin as Currency

The state of California has declared that electronic currencies such as Bitcoin are legitimate currencies for the purpose of buying and selling goods and services throughout the state, according to the Silicon Valley Business Journal. Within this designation is not the more well-known virtual currencies, but also rewards points such
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Poll: Public CFOs in Favor of PCC Simplifications

A recent survey conducted by Grant Thornton revealed that, of 240 public company CFOs polled, 62 percent said they support the creation of streamlined accounting rules for private companies, according to Compliance Week. In fact, they like them so much that 55 percent wished that they, too, could adopt
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E-Cigarettes Could Threaten Tobacco Bond Payouts

When the four largest tobacco companies settled with the U.S. government in 1998 for all the damage their products caused in exchange for future immunity to tort claims, many of the billions upon billions of dollars it produced were converted into tobacco settlement bonds that, for a long time, produced
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PCAOB Considering Smaller, More Intimate Fraud Outreach

The Public Company Accounting Oversight Board is considering moving fraud outreach from public roundtable sessions to small private meetings in order to better understand the root causes of financial fraud, according to FEI Daily. By holding outreach sessions closed to the public, the PCAOB belives it will be able
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