The Progressive Accountant
Wolters Kluwers Revs Rise 2 Percent
- Thursday, 06 November 2014
Wolters Kluwer has reported that revenues for its nine months ended September 30 were up 2 percent in constant currencies and 1 percent organically. However, the company said its nine-month operating profit margin declined as expected from the impact of planned restructuring costs.
Xero Buys Payroll Company
- Thursday, 06 November 2014
Xero has acquired Monchilla, a Seattle, Wash.-based payroll company. Xero says the move will help it expand its payroll service beyond the seven states it currently supports. Monchilla is an early stage start-up. Xero will pay roughly $7.74 million, $4.1 million in cash and 238,490 Xero shares.
CPA Brothers Draw SEC Fraud Suit
- Tuesday, 04 November 2014
Two Texas brothers, who are CPAs, have been sued by the Securities and Exchange Commission for running what the SEC calls a "shell-factory" scheme that defrauded business owners. The SEC also suspended trading in the stock of four companies controlled by Charles E. Smith and his brother, Mark Smith, that they have not yet sold to others. the two have agreed to disgorge gains, pay civil money penalties and be barred from serving as officers of publicly held companies.
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