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October Accounting News Wrap-Up

Who's tax plans are better: Clinton's or Trump's? Will Lime Energy Co. recover from it's scandal? Find out in this month's Accounting News Wrap-Up!

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Jobs Now or Later? Comparing Clinton’s and Trump’s Tax Plans

The election will have many ramifications on individuals and businesses, including tax changes. But who’s plan will create jobs and when? The Tax Policy Center put both plans to the test.

Deloitte overtakes PwC as world's biggest accountant

The world’s largest accounting firm title has changed hands. Deloitte, with revenues of $36.9bn, has taken the top spot from PwC with revenues at $35.9bn. With the Big Four accounting firms all gaining ground in the areas of data analytics, deals advice and management consultancy, it remains to be seen how long Deloitte will hold the crown.

SEC Charges Energy Company, Executives with Accounting Fraud

The accounting fails keep coming to light, and Lime Energy Co. is no exception. The company reportedly recognized $20 million in fake revenue from 2010 to 2012. Lime Energy and four of its then top executives have agreed to pay more than $1 million in settlements. “Lime Energy and its then-executives engaged in a wide array of wrongdoing, ‎including the improper reporting of a significant amount of fake revenue,” said Scott W. Friestad, Associate Director of the SEC’s Division of Enforcement, in a statement.

Next Billion-Dollar Startups 2016

There’s no denying that the digital space is creating billion-dollar companies. Let’s take a look at the 25 next billion-dollar start-ups and what they are all about. From processing health claims for self-insured companies to blood tests by mail, these companies will floor you. Could you end up working for one of these?

Toshiba sued by shareholders over accounting scandal

45 unnamed Toshiba shareholders have sued the company seeking damages due to inappropriate accounting. Toshiba is addressing the issues going as far as filing suites of their own against former top executives responsible for the scandal.

TurboAppeal Gets $4mn in Initial Funding

TurboAppeal, a tech firm that helps consumers and businesses appeal property taxes, has completed a $4 million Series A round of funding.

Oops! A few accounting fails for you this month:

 

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