Thursday, 27 June 2013

The Haney Group, article code 85258080733 THG reviews: China gas distributors profitable as price controls slam PetroChina – Sourceforge

The mainland's natural gas sector is a tale of two industries: a downstream distribution business where operators are enjoying record profits thanks to rising gas demand and stable margins and an upstream supply trade whose profit has been seriously eroded by losses on contracts for long-term imports.

With Beijing dragging its feet on raising the price of gas, the sustainability of the situation whereby resource producers subsidise consumers is increasingly being questioned.

"While [industry regulator] National Development and Reform Commission (NDRC) tries to encourage gas use in China, the gas [supply] chain is increasingly unstable," wrote analysts at American brokerage Sanford C. Bernstein. "The government may not like it, but either gas prices will need to rise or supply and consumption will slow."
To address worsening air pollution in major cities, Beijing wants to raise gas consumption by an average 16.4 per cent from 2012 levels to 230 billion cubic metres (bcm) by 2015.

If realised, it would raise the contribution of gas to total primary energy consumption to 7.5 per cent in 2015 from 4.6 per cent in 2011.

It would also cut carbon dioxide emissions by 520 million tonnes each year from 2011 to 2015 as less coal would be consumed, according to the 12th five-year plan.

This amounts to 6.1 per cent of the 8.5 billion tonnes of greenhouse gases emitted by the mainland in 2011, according to estimates by the International Energy Agency, an intergovernmental policy adviser to 28 mostly developed nations.
Beijing has not lifted gas prices on a nationwide basis since mid-2010. It had been expected to do so last year but did not.
Gas imports have more than doubled from 17 bcm in 2010 to 36.6 bcm last year, an annual growth rate of 46.7 per cent. Mainland end-user prices remain at least 40 per cent below the usual levels in Asia, which have been closely linked to crude oil prices due to tight supply. Imports are expected to continue to rise rapidly, since state-backed oil and gas firms have signed contracts that will see imports hit 93.5 bcm in 2015, or 40 per cent of consumption, up from 25 per cent last 
year, according to the NDRC. Read more

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Tuesday, 18 June 2013

Penny Stocks: How to Investigate Them and Avoid the Traps

the haney group, Penny Stocks: How to Investigate Them and Avoid the Traps

Information is the investor's best tool when it comes to investing wisely. But accurate information about "microcap stocks" -- low-priced stocks issued by the smallest of companies, often called "penny stocks" -- may be difficult to find. Many microcap companies do not file financial reports with the SEC, so it's hard for investors to get the facts about the company's management, products, services, and finances. When reliable information is scarce, wrongdoers can easily spread false information about microcap companies, making profits while creating losses for unsuspecting investors.

This Financial Guide gives you the basics about microcap or "penny" stocks, discusses how to find information on them, and points out what "red flags" to watch out for.

Friday, 7 June 2013 Receives 2013 Tax & Accounting Innovation Award Honorable Mention

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BRENTWOOD, Tenn., June 6, 2013 /PRNewswire via COMTEX/ -- At the 2013 Tax & Accounting Innovation Awards ceremony,, the creator and world's leading provider of secure audit confirmation services, received an honorable mention for its new AR/AP Confirmation service.
Up until now, auditors created accounts receivable (AR) and accounts payable (AP) confirmation requests using some type of mail merge functionality and sent those out to responding entities by mail, email or some other delivery method with little or no ability to track responses or monitor for fraud. The AR/AP Confirmation service, the first of its kind, allows auditors to use one online tool to send and receive both electronic and mailed audit confirmations.
"This new service allows auditors to send AR/AP confirmations to more than 1,000 validated companies, and a majority of these are Fortune 1,000 companies," said Clark Hudgins, vice president of "The biggest time-saving feature is the ability to easily upload thousands of company addresses and invoice data from a spreadsheet. Our service then identifies which of the companies are validated responders in our system and allows the auditor to send audit confirmations electronically to the responding entities. Additionally, companies that are not validated in our system, the auditor can use our Out-of-Network service to send requests electronically or mail them using our Paper Fulfillment service."
"Given the difficulties auditors experience trying to get AR/AP confirmation responses, this new product offering was created specifically to transform the outdated mail-merge process into a much more efficient one," said Chris Schellhorn, CEO of "We are extremely honored to be recognized for our contribution in developing an innovative service for the accounting profession."
The Innovation Awards are sponsored by CPA Practice Advisor and honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow, increased accessibility, enhanced collaboration or other means.
" revolutionized and streamlined the confirmation process when it comes to secure and reliable financial account verification," said Isaac M. O'Bannon, editor of CPA Practice Advisor. "We have recognized the addition of AR and AP confirmations during the 2013 Innovation Awards because this feature has greatly added to's value to auditors and investors, providing greater assurance in the validity of receivables and payables, while also dramatically increasing the speed with which audits can be completed."
Award winners are selected by CPA Practice Advisor's editorial board and awards committee, which include thought leaders and professionals from across the country. The publication, along with its digital content and interactive media, is the leading independent source of practice management resources and technology information for tax and accounting professionals in public practice.

About is the creator and world's leading provider of secure electronic audit confirmation services. It processes over $1 trillion in confirmation information annually for a majority of public companies, as well as private companies, non-profits and government agencies. In addition to its bank confirmation solution, the company provides solutions for more than 30 different types of audit confirmations including accounts receivable confirmations. is the Preferred Provider of Electronic Confirmations for the AICPA Trusted Business Advisor(TM) Solutions Program and is endorsed by the American Bankers Association. has also received numerous awards including being a multi-year alumnus on the Inc. 500 list for 2010 and 2011. Several hundred In-Network responding companies including all of the Top 10 banks in the U.S. and over 11,000 accounting firms in more than 100 countries trust for their audit confirmation needs. For more information, visit