Accounting

Accounting News & Professional Insight

Accounting Today delivers news, rankings, thought leadership, and analysis for accounting professionals so they can navigate change in standards, firm strategy, technology adoption, talent, and the overall business environment.

Accounting professionals are facing rapid transformation, including shifting professional standards, demographic change, technology disruption, practice consolidation, and changing expectations for advisory services. Our coverage surfaces these strategic dynamics and provides insights and analysis for firms, leaders, and the accounting profession.

Revenue recognition

FASB simplifies revenue rules for franchises

The Financial Accounting Standards Board released an accounting standards update Thursday, giving franchisors a practical expedient way to determine their performance obligations under a franchise agreement.

By Michael Cohn
Editor-in-chief, AccountingToday.com

January 28
Government accounting

U.S. vaccine agency diverted funds for other uses, watchdog says

U.S. officials responsible for preparing for a pandemic routinely raided funds for public health emergencies, diverting money from vaccine development to pay for other projects at the U.S. Department of Health and Human Services, a federal watchdog said Wednesday.

By Bloomberg News

January 28
ESG

ESG responsibilities increase for accountants in 2021

The Association of International Certified Professional Accountants found that environmental, social and governance trends are increasingly becoming part of accounting and finance professionals' job titles for 2021.

By Sean McCabe
Senior Editor

January 28
AT Think Pathways to Growth: Ready to grow? Get ready to consult!

Accounting firms need to leverage their pipelines and sales professionals for success.

January 28

Gale Crosley

Crosley+Company
IRS

Forms 2848 and 8821 are now online

Tax pros can now submit powers of attorney and tax information authorizations electronically.

By Jeff Stimpson
Freelance writer

January 26
Coronavirus

Accountants see chances of swift recovery slipping away

Amid a resurgence in COVID-19, accountants around the world are less confident in the chances of the economy bouncing back soon.

By Michael Cohn
Editor-in-chief, AccountingToday.com

January 26
AT Think Will change make or break your firm?

Three strategies can help your firm stay ahead of the game in 2021.

January 26

Kyle Walters

L&H CPAs and Advisors

Resources

The latest Accounting Today research and discussion:

Predicting the next 15 years in accounting

Take a look at what the accountant and the accounting firm of the future will look like with AICPA chief Mark Koziel.

Sponsored by BILL
The changing world of government financial reporting

The serious new pressures facing governments of all sizes are changing their financial reporting, says GASB Chair Joel Black.

Sponsored by Intuit Quickbooks
Special Report Technology and CAS

Handling the compliance work that is the foundation of modern CAS while also creating time and insights for the advisory overlay that really drives its value to clients requires the careful deployment of a suite of technology tools — and that suite is constantly evolving, meaning accountants need a strategy to keep up.

Sponsored by Canopy

Accounting: Key Questions & Analysis

What are the key trends and strategies emerging from accounting industry leaders?

Top leaders are focused on structural challenges facing firms, including succession planning, evolving service mix, and long-term sustainability of traditional models.

How are accounting firms positioning themselves for the profession’s next phase?

Firm leaders are redefining and evaluating their strategy for growth. This includes investing in people and systems as well as rethinking how firms deliver value to address changing client needs and competition.

What role does professional identity play as accounting continues to change?

Debate continues over how accounting defines itself. This is due to accounting expanding into advisory, consulting, and technology-enabled services. These changes can raise questions about standards, training, and long-term credibility.

How are accounting firms managing leadership and succession risk?

Demographic shifts are accelerating in accounting. This means more firms are confronting leadership transitions and ownership succession which can create critical strategic risks that influence growth, culture, and valuation.