March 2010 April 2010 May 2010 June 2010 July 2010
August 2010
September 2010 October 2010
November 2010
December 2010
January 2011
February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019 September 2019 October 2019 November 2019 December 2019 January 2020 February 2020 March 2020 April 2020 May 2020 June 2020 July 2020 August 2020 September 2020 October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 February 2024 March 2024 April 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
News Every Day |

The accountant shortage is so bad that it's delaying key reports at companies like Tupperware

Turquoise Tupperware containers sit for sale on a shelf at a store in Chicago
Tupperware says it delayed filing its annual report because of a lack of accountants.
  • The severe accountant shortage is causing companies to delay filing key mandatory reports.
  • Tupperware has delayed its annual report due to accounting department shortages and resource gaps.
  • A lack of fresh talent contributes to the ongoing crisis in accounting.

The accountant shortage is so bad that companies are delaying filing key mandatory reports.

On Friday, Tupperware said it didn't have enough accountants to get its annual report out on time. The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. About 70 companies have postponed annual reports this year, up 40% from last year, research company Intelligize tallied last month.

In a regulatory filing, Orlando-based Tupperware blamed the delay on "significant" past and present accounting attrition, "which has resulted in resource and skill set gaps, strained resources, and a loss of continuity of knowledge."

Tupperware added that previous delays in filing its 2022 annual report led to postponement of its quarterly reports, which subsequently pushed back work on its 2023 annual report.

On LinkedIn, the company is hiring for a single accountant, a job in Poland.

Once an American kitchen icon, the manufacturer now faces a slew of business problems. In October, its external accounting firm, PricewaterhouseCoopers, dropped the company as a client. Almost a year ago, Tupperware warned investors of potential bankruptcy amid greater losses and operational costs.'

Accountant staffing issues at Tupperware and other businesses are becoming an operational headache with no signs of abating.

Seasoned accountants are retiring while the profession, which has a reputation for long hours and unfulfilling work, has struggled to attract younger talent. The American Institute of Certified Public Accountants said that 75% of certified accountants reached retirement age in 2020. The US Bureau of Labor Statistics projects there will be 126,500 openings for accountants and auditors each year, on average, over the decade.

But many students say they are turned off by the fifth year of college needed for accounting courses. And accountants' average starting salary of about $62,000 looks less appealing than other higher-paying or lower-stress jobs in business.

"Accountants and auditors are to business as those people in the black-and-white-striped shirts are to sports. We're the referees of business," Steven Kachelmeier, the chair of the accounting department at the University of Texas, told Business Insider last year.

"We may not always like the referees, but sports is a free-for-all without them," he said, explaining that if shortages of these workers continue, accountability and integrity in business could suffer.

This year has seen a slate of high-profile financial reporting errors, some of which caused stock prices to change. In February, ride hailing app Lyft erroneously reported in its fourth-quarter earnings release that it expects profit margins to increase by 500, not 50 basis points — which led its stock to surge 60%. Electric vehicle maker Rivian and gym company Planet Fitness said they made earnings typos this year.

In a similar move to Tupperware, toy giant Mattel said in a February filing that it was unable to file its 2023 annual report due to "certain deficiencies in its internal control over financial reporting."

The Securities and Exchanges Commission can issue penalties for erroneous filings, including fines for delays and errors in financial reporting.

Read the original article on Business Insider

The Masters 2024: Rory McIlroy feels he can still win at Augusta National despite swing ‘feeling horrific’ in round two

Danielle Serdachny scores OT goal to lift Canada to 6-5 win over US in women’s hockey world final

Couple who won Come Dine With Me posed as customs officers to steal drugs as part of scam

Четвертый том в серии ко Дню космонавтики

Ria.city






Read also

Library of Congress adds The Chicks, Green Day, Notorious B.I.G. to National Recording Registry

Latest Player Profile From The Duke Chronicle - Kyle Filipowski

Arteta urges Arsenal to seize Champions League chance at Bayern

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Men’s volleyball: Long Beach sweeps UCI for Big West title; top seeds win in MIVA tourney

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

Danielle Serdachny scores OT goal to lift Canada to 6-5 win over US in women’s hockey world final



Sports today


Новости тенниса
WTA

Андреева победила Подороску на старте турнира WTA в Руане



Спорт в России и мире
Москва

ЦСКА обыграл «Балтику» и вышел в финал Пути РПЛ Кубка России



All sports news today





Sports in Russia today

Москва

Парашютный Фестиваль «Небофест 2024» состоится 26 мая в Нижнем Новгороде


Новости России

Game News

Duskfall — RPG-игра в формате данжен-кроулера на Android


Russian.city


Москва

HTX Ventures сотрудничает с Core Venture Network для расширения возможностей инноваторов Core Chain


Губернаторы России
Италия

Тверская область: ввозили муку из Италии, картофель из Беларуси


Первый рейс «Ласточки» из Сочи в Сухум запланирован на 25 апреля

Шапки женские вязаные на Wildberries, 2024 — новый цвет от 392 руб. (модель 466)

Шапки женские на Wildberries — скидки от 398 руб. (на новые оттенки)

Социальная работа на предприятии: современные тенденции и интересные кейсы


Студенты Гнесинки провели мастер-классы для юных дарований Ямала

Загадки халатов Федора Шаляпина

«Я этого не заслужил»: Шуфутинский рассказал о раздоре в семье

Создание материалов для ПРЕЗЕНТАЦИИ идеи Краудфандингового проекта, или для Спонсорской Презентации.


Отложен старт Рыбакиной на турнире в Штутгарте

Циципас вышел на 12-е место в ATP по призовым за карьеру. Он заработал $30 млн

Рыбакина призналась, что её жизнь сильно изменилась после победы на Уимблдоне

Елена Рыбакина провела первую тренировку в Штутгарте. Видео



Аддитивные технологии помогают "Норникелю" обрести импортонезависимость

Социальная работа на предприятии: современные тенденции и интересные кейсы

Тема дня: Росавтодор: в 2024 году до четырех полос расширят 376 км федеральных трасс в рамках капремонта

Шапки женские на Wildberries — скидки от 398 руб. (на новые оттенки)


Аддитивные технологии помогают "Норникелю" обрести импортонезависимость

В Подмосковье росгвардейцы обеспечили безопасность граждан во время проведения мероприятий мусульманского праздника Ураза-байрам

Певица Натали Орли: как научиться правильно дышать

Из Европы надуло. Врач рассказал, как аллергикам гулять в парках Москвы


Оградить население от мигрантов: Малофеев поддержал идею селить гастарбайтеров на стройке

Первый рейс «Ласточки» из Сочи в Сухум запланирован на 25 апреля

Баня в загородном доме

Врач Гаврилова рассказала, как найти хорошего медицинского специалиста



Путин в России и мире






Персональные новости Russian.city
Дмитрий Шостакович

В петербургской филармонии хотят установить памятник Шостаковичу



News Every Day

Men’s volleyball: Long Beach sweeps UCI for Big West title; top seeds win in MIVA tourney




Friends of Today24

Музыкальные новости

Персональные новости