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.

AT Think The time has come to get on with advisory services

The move to focusing primarily on being a trusted advisor has been a long time coming.

December 16

Gary Bolinger

Oodles -- The Complete Advisory Solution
Innovation

2020 Top 100 People extra: Preparing for the future

As part of this year’s Top 100 Most Influential People survey, Accounting Today asked, “What one thing would you recommend accountants do to prepare for the future?”

December 16
FASB

FASB aims to clarify accounting for acquired revenue contracts

The board’s proposed ASU offers specific guidance on certain recognition and timing issues.

By Daniel Hood
Editor-in-chief

December 15
AT Think How to innovate within a CPA firm

Once CPAs adapt a truly innovative mindset, their whole approach to business and client relationships change.

December 15

Jody Padar

"The Radical CPA"
AT Think Accounting for goodwill impairments: An ROA approach

FASB has a project to review goodwill accounting — again. Here's an idea it might want to consider.

December 15

J. Edward Ketz

The Pennsylvania State University
Audit

Audit regulator who bought Wirecard shares faces scrutiny

The head of Germany’s accounting regulator faces scrutiny after telling a parliamentary committee that he traded Wirecard AG shares while his agency was reviewing the now bankrupt payment company’s external audits.

By Karin Matussek and Birgit Jennen

December 14
IFAC

IFAC endorses international sustainability standard-setting board

The International Federation of Accountants reiterated its call this week for an international sustainability standards board under the purview of the International Financial Reporting Standards Foundation.

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

December 11

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.