#accounting

Has anyone heard about the new Medicaid Accounting Cash Team that’s supposedly being created? Looks like the team may be formed as part of the restructuring related to the VSP/ISP, with some, if not all, Accountant I and II positions on the Medicaid side potentially transitioning to the new team. Just wondering if anyone has heard more details or can confirm.

Sorry to hear that the Houston accounting has been gutted. It is starting to feel their goal is to eliminate all US positions possible, and have everything in Canada. Who is next?

Did anyone notice that the last cycle saving account contribution didn't get credited to your sunlife account? Isn't this stuff supposedly regulated and a company could be penalized for error, like some type of interest/missing opportunity cost.

To no surprise, VERP has made its annual appearance within Emerson. And, from where I stand, there does not appear to be that many older employees left at Emerson. I suspect, at least at my location, Emerson will not get the response that they need. Hence, in keeping with Emerson's long-standing practice of cooking the accounting books for appearance sakes, I would not be surprised if we see layoffs somewhere around mid-September.

Consulting & Engineering Services is a masterclass in absolute incompetence. Can't consult. Can't engineer. Can't sell. Can't even bill a client properly. Then there’s Ramnut the lead "engineer". Can't do engineering because he is not an engineer but a low grade accountant. Can't do accounting because he appears to have learned accounting from a calculator with no batteries. Can't understand tax laws. Can't get an invoice sent out correctly to save his life.

Apparently some Raytheon programs have, get this, TWO SETS of actual costs incurred under cost-type contracts: one set of #'s for the government and another set of #'s internal to Raytheon. These actuals do not remotely match and it's not due to lag-time in applying the accruals. Something to look out for as this is not a limited or one-off activity.

Which accounting firm audits the financials? Who specifically at this firm is conducting the audit?

Postal Center International is closing its Weston headquarters and laying off 181 employees. The layoffs affect various departments including accounting, production, and human resources. This significant workforce reduction is attributed to unforeseeable business circumstances. The company was founded in 1984 and previously employed around 560 people. The layoffs began in August and may continue through September.

Broward County, Florida

https://www.jacksonville.com/story/news/state/florida/2026/08/14/broward-postal-center-international-layoffs/91300446007/

This account is a total it-shay ow-shay. Management (especially upper mgmt) is staggeringly incompetent and would rather play at power dynamics and cry wolf when things don't go their way even after slave driving the ever shrinking number of experienced technical staff... as if we know what "their way" is to begin with. Then you have the customer also not knowing what they want or what they're doing while experience and talent walk out the door.

The OK AG has launched an investigation into OHCA due to severe fraud occurring for multiple years at this point that abuses the Open Enrollment process. Given what I've seen with Gainwell, I'm not surprised that this has happened. It probably goes even deeper than the AG's initial probe.

Gainwell just might have to pay the piper and lose another contract. If anyone else has additional insight, I'm very curious to know how dire things are.

What's the recent rumors/news about MSP's for IT or as they call it DT. Also, you finance and accounting folks, the hammer is coming y'all's way too - just be ready.

In accounting, goodwill represents the premium a company pays over the fair market value of net assets when it makes an acquisition. It captures intangible qualities like brand reputation, a skilled workforce, and business synergies.

The Composition of IBM's Goodwill :

The Source: IBM's goodwill has steadily grown due to its long history of corporate acquisitions.

Recent Activity: High-profile software and data acquisitions (such as HashiCorp, Confluent, and DataStax) have added to this balance.

Balance Sheet Context: While $89.33 billion is carried as an asset on IBM's books, it is an "illiquid" asset. In a worst-case scenario or liquidation, this value often cannot be recovered. This has led some financial analysts to monitor the company's high reliance on intangible assets as a potential point of shareholder risk.

Question:

Given the upcoming announcement of IBM results, what do you think IBM's goodwill value is now ?

It’s sad how supervisors can assist vendors by falsifying invoices, approve them for payment, receive kickbacks, wrongfully accuse and frame pumpers / foreman of spills and misplaced “stolen” loads. Make it through layoffs, continue to hide costs with zero visibility to partners. Bill partners to death because COP working interest owners aren’t aware of the internal atrocities and horrific expense mismanagement. Lie to the public with fictional SPIRIT values, goals and beliefs then go to church on Sunday as a cherry on top of this delicious sundae. Why do what is morally right when you can make millions lying to the public and yourself? Upper management is better than the mob! #staypoor #orgetrich #justice #money

S.L. Nusbaum announced layoffs affecting approximately 22 employees. These reductions primarily impact lower-level accounting positions. The company plans to outsource some accounting functions for efficiency. Layoffs will occur over six months, beginning in August. Affected employees will receive severance and internal job search support.

Norfolk, Virginia

https://www.pilotonline.com/2026/06/26/norfolk-based-sl-nusbaum-layoffs/

I wonder how long this will last. I’m guessing two years to avoid severance pay. Having accounting folks in Houston seems like they had no choice because they were totally against it originally. Thoughts????? Hopefully the new mgmt is better but that doesn’t say much

In IT&V, the pressure to produce is increasing. Good thing most of us came from public accounting. Time to start eating time like a pro!

Investors bid the stock up on short‑term good news (earnings, investor stake, dividend), but the Q1 beat could be misleading because it’s pro‑forma and boosted by Lexmark purchase‑accounting adjustments rather than pure organic profit or cash‑flow improvement.

I got wind accounting in LM only goes in two days a week. Is this true???? If so how’s that fair for the rest of us getting RTO shoved down our throats?

If you’re over 40 and you were affected, you will be receiving a list of those included in the layoff and a list of those not laid off. Not with names, but with titles and characteristics. It would be interesting to hear how many associates are on your layoff list.

Here’s what should be in it:

Mandatory OWBPA Disclosure (for Employees 40+)When a reduction in force (RIF) involves two or more employees and a severance waiver is requested, employers must provide a written document containing:The Decisional Unit: A description of the specific group, class, or unit of employees that was considered for the layoff (e.g., "all employees in the Accounting Department").Selection Criteria: The eligibility factors or criteria used to determine who would be laid off and who would be retained.Job Titles and Ages (Selected): A list of the job titles and ages of every individual in that decisional unit who was selected for the RIF.Job Titles and Ages (Not Selected): A list of the ages of all individuals in the same decisional unit who were not selected for the layoff.

A new job has been posted, they are looking to hire someone to develop AI to take processes, procedures, analysis, etc out of the hands of current workers and into the bowels of AI. The worst part is that the job description includes making the AI in compliance with audit standards and SOX public standards. All while following the rules of controls and separation of duties? How can this be taken seriously? Trusting that data is properly handled, accounting is done up to high standards, and that our financial statements are accurate in the hands of newly developed AI? More layoffs coming to FP&A if this job gets filled? Whoever takes this job will be a yes-man and completely wreck our financial accuracy.

Is it true? Left recently, should've waited for the package....

Controller, director and a couple more bounced. Ruthless!

As you all know 75% of teh contractors in CX were made redundant during the last 3 months. Most of it happened in the CX centres.
The latest is, CX is getting rid of all small accounts and they are keeping only what they call signature accounts. These are major SP accounts like AT&T,verizon, BT, TI, DT,Telstra etc.
The CX enterprise business is in a lot of trouble for a long time. So except for few strategic accounts like Microsoft,google, etc, CX is getting rid of all small accounts. Their plan is to manage such accounts through partners. This is a big shift that will happen in the next 12 months. As a primary step, they are planning to cut 15% of all blue badges in all theaters. They are planning to justify it with AI efficiency improvement and margin pressure. So Braze for it amigos.

You may want to check the balance on your ExxonMobil gas card account.

When we swapped over to the new company which handles our paychecks someone forgot to check a box. The money was taken from the paychecks but never sent to the credit card company for payment.

While some employee's balances have been paid...............I am finding the majority have not. Interest is being charged.

Heard we lost some long timers in a group at Finance accounting.

KPMG UK intends to reduce its audit division workforce. Up to 440 employees are expected to be laid off. Nearly 600 staff members were warned about potential job losses. Low staff turnover and changing market conditions are cited as reasons. This move primarily affects assistant managers with accounting qualifications.

https://www.hrkatha.com/news/kpmg-uk-to-layoff-up-to-440-audit-staff/

What is included in W2 Box 1?

Are the vested securities included in here? Is there anything else like employer portion of health plan?

This is the only explanation. And to cover his tracks, let's throw out a good bonus to really make it look like we really did these numbers.

http://techrights.org/n/2026/02/11/With_an_IBM_Company_Down_Over_75_After_Apparent_Accounting_Frau.shtml

Barron's: 2/10/26 -

• Kyndryl Holdings shares plunged 55% to $10.59 after multiple executive departures and an SEC review of accounting practices.
• Guggenheim Partners downgraded the stock to Neutral, citing unanswered questions and weak fiscal third-quarter results.
• The company cut its fiscal 2026 revenue outlook to a 2% to 3% decline and reduced free cash flow guidance to $350 million.

Kyndryl’s future is too uncertain for investors to feel comfortable, according to Guggenheim Partners.

If there is one thing investors dislike most, it is uncertainty. Kyndryl Holdings’ future now looks more uncertain than ever after a historic selloff on Monday, analysts say.

Shares of the IT infrastructure company plunged 55% to $10.59 after Kyndryl announced the departures of Chief Financial Officer David Wyshner, General Counsel Edward Sebold, and Global Controller Vineet Khurana. The company also disclosed that it is reviewing its accounting practices following voluntary document requests from the Securities and Exchange Commission.

Guggenheim Partners downgraded Kyndryl stock to Neutral from Buy and withdrew its price target. In a research note, analyst Jonathan Lee said the announcements, combined with weak fiscal third-quarter results, raised more questions than answers.

The stock rebounded 5.3% on Tuesday to $11.15.

Lee said investors likely anticipated a weak earnings report from the former IBM spinoff but were unprepared for the abrupt exit of key legal and financial executives or the disclosure of material weaknesses in internal controls over financial reporting. The SEC review, in particular, is expected to remain an overhang on the stock.

Kyndryl said it is developing a remediation plan but offered no details, noting that additional information would be provided in a delayed quarterly securities filing.

“We expect investors to continue questioning execution and credibility until management provides an update on material weaknesses,” Lee wrote.

The company’s updated guidance also failed to reassure investors. Kyndryl now expects fiscal 2026 revenue to decline 2% to 3%, compared with a prior forecast of 1% growth. It also cut its midpoint free cash flow forecast to $350 million, down from $550 million.

According to Lee, the revised outlook casts doubt on Kyndryl’s long-term goal of generating $1 billion in adjusted free cash flow by 2028. Restoring confidence in that target will require a credible management team capable of executing a turnaround.

For now, analysts recommend caution. J.P. Morgan double-downgraded Kyndryl to Underweight from Overweight, and Oppenheimer cut its rating to Perform from Outperform.

https://www.barrons.com/articles/kyndryl-stock-downgrade-accounting-review-7245a725

"For nearly a year, the company dismissed short-seller allegations as mere 'falsehoods,' but today those chickens came home to roost with a $2.8 billion loss in market cap."

https://www.chartmill.com/news/KD/Chartmill-41541-kyndryl-accounting-implosion-sec-gotham-city-vindicates

This reminds me of ENRON. How could this happen ? Martin buddy, where were you ?

brilliant moves, as always

https://www.zerohedge.com/markets/kyndryl-crashes-accounting-review-cfo-exit-analysts-brand-mess-disaster

Why are you guys surprised? All along I projected the stock to be in the 50s.

What is next? Fiserv is no longer a fintech company, it is a company with a bunch of accountants and top-heavy with VPs and SVPs. All its IP 🧐 assets are contractors. No one would invest in an accounting firm. Clover? It’s only 8% of the market and going down.

Infinite? Simply an agent, facilitating, accounting cover-up to beautify quarterly earnings.

Sad but this company is dead without its full time IP committed to Fiserv. Mike can’t do anything, Frank left him with long term contracts with third parties and many Frank’s kool-aid guys still around. Stock to $40 .

It will take Mike about another 2 years to know IP is a must to the survival of this company.

Oklahoma City took the biggest hit. Anyone know the numbers?
What other locations were impacted?

Or have you been successful getting them from ADP?

Out of curiosity I did some AI based research to see how and when a company must account for severence expenses under GAAP, taking into consideration 60 day notice periods, and basically they can incur the expense when they notify you so long as their is little chance of a reversal. additionally. if they have already made their lists for the first part of 2026 (q1/2) and are certain those positions are going away they can take the expense earlier such as in the $612MM hit we took this past quarter. So while severance expenses are expected to be lower by $700MM in 2026, part of the reason they can say that is that layoffs happening in the next few months are already paid for.

What system do you use? Asking for a friend. SAP?