Accounting / Accountants

* Man, the economy is so bad, monks are having to go to court to fight for a new revenue stream. [WSJ Law Blog]

* We have peace between a Texas auction house and the President of Mongolia over the ownership of a Tyrannosaur skeleton. While we’re here, should anybody wish to invite me to a pre-screening of their inventive dinosaur park, I’d like to note that I’m not the type of bloodsucking lawyer who leaves children behind. [Heritage Foundation]

* Did you know Sullivan & Cromwell got involved in the birther controversy? The first one, the legitimate one with Mitt Romney’s father. Not the ridiculous one that Romney’s been embracing. [Reuters]

* Speaking of Mittens, did you know he supports for-profit colleges? That’s like supporting people jumping off the Empire State Building, so long as they pay to get in. [Salon]

* Could an accounting firm pull a Dewey? [Going Concern]

* Have an idea for how to improve the Constitution? Share it with the good folks over at Slate. [The Hive / Slate]

Today, as you probably know, is the deadline for filing your taxes. As was the case last year, the combination of April 15 falling on a weekend and the little-known holiday of Emancipation Day pushed the filing deadline back a bit.

Did you appreciate the extra time to fill out your tax return? Partners at Dewey & LeBoeuf probably did, due to some problems with their K-1 forms.

And speaking of partners at Dewey, their numbers continue to decline. Let’s look at the latest defections, as well as the tax issue.

UPDATE (10:30 AM): The game of musical chairs continues. Six more Dewey departures, which we learned about shortly after publishing this post, after the jump.

double red triangle arrows Continue reading “Dewey Know How To Do The Taxes?”

I don’t always cover electronic discovery, but when I do, I prefer juicy court decisions.

And that’s what we have today. The United States District Court for the Southern District of New York released a blunt, controversial ruling last week, slamming down accounting firm KPMG for requesting a less intense preservation obligation. The case has unsettling implications for attorneys and corporations who have big hopes in the future of less costly and less invasive e-discovery standards.

The case has been causing headaches for some time now….

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It’s one of the biggest cons going around. I cringe whenever I hear it. A lawyer laughs and says, “I’m not good with numbers — that’s why I became a lawyer.”

On the surface, it seems to make sense; it sounds like it should be true. For some, it might even be true. After all, the last time we used quadratic equations was back when loafers on bare feet were considered desirable footwear (thanks Don Johnson).

In-house lawyers should never, ever say they’re bad at math — even those who really are. After all, business people are preoccupied with numbers. As an in-house lawyer, telling a business person that you’re bad at math is like telling them you don’t care about the most important thing that everyone else in your company cares about, and if your company is publicly listed, what every investor in your company cares about — the company’s numbers….

double red triangle arrows Continue reading “Moonlighting: Things Not to Say In-House – ‘I’m Bad at Math’”

Cops learn to hate people. Basically everyone they encounter is a criminal, so cops soon come to believe that everyone is a criminal.

Litigators — or perhaps litigators who are repeat players in a particular field — learn to hate people. Personal injury insurance defense counsel come to believe that all plaintiffs are lying fakers. Personal injury plaintiffs’ lawyers come to believe that all insurance defense counsel are tightfisted jerks who never pay a claim.

Maybe this is natural. If you spend eight hours every day repeatedly doing the same thing over the course of many years, you become what you do. It’s hard to break out of your role.

But this can cause trouble for in-house litigators. If you become what you do, consider who in-house litigators learn to hate . . .

double red triangle arrows Continue reading “Inside Straight: Learning Who To Hate”

Susan Finkelstein is NOT a prostitute! Is that clear? NOT a prostitute.

* A Pennsylvania appeals court ruled that selling sex for Phillies tickets doesn’t make you a prostitute. She was already a Phillies fan, so calling her a whore was redundant. [Legal Blog Watch]

* Occupy Wall Street is looking for a few good accountants. Man, they are about six months from telling us that some of us are more equal than others. [Going Concern]

* If the mainstream media is afraid of speaking out against the TSA, it’s only because they’ve gotten used to simply regurgitating the spin fed to them by their precious government sources. [Popehat]

Congrats to Ronan Farrow and all the other members of the Forbes 30 Under 30 list.

* If this is what Forbes is publishing for its “30 Under 30 in Law & Policy,” then Above the Law should publish “20 Legal Leaders Under 20.” Look, here’s a college freshman who takes color-coded notes, keeps an extra raised hand in her purse, and has no womb — she’s a future SCOTUS justice! [Forbes]

* Move over, Memoirs of a Geisha; make way for Memoirs of a Gunner. [Smashwords]

* An interesting look at how five federal circuit courts manage their caseloads, by Marin Levy. [Jotwell: Courts Law and SSRN]

I recently graduated from a state school in the California State University system as a Philosophy major. My original plan was to go to law school, but I am now thinking I may want to go into accounting instead (due to the terrible job market for lawyers and the 150k debt I’d be faced with).

Particularly, I would like to work at a Big 4 firm. Is this change possible?

— from a question sent into the advice column of Going Concern (the accounting world’s answer to Above the Law). Note the questioner’s less-than-stellar undergraduate GPA.

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