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 Should accountants be charging for PPP services?

Firms may want to trade short-term cash for long-term goodwill.

July 21

Gene Marks

Marks Group PC
Audit standards

AICPA officials provide update on new audit and attest standards

American Institute of CPAs chief auditor Bob Dohrer and AICPA Auditing Standards Board chair Tracy Harding discussed the AICPA’s progress on some recent audit and attest standards during the Engage 2020 online conference Monday.

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

July 20
IMA

CFOs can help organizations with sustainability reporting, diversity and data

The Institute of Management Accountants recently released a pair of reports on how CFOs can help their organizations provide more sustainable business activities.

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

July 16
IRS

PTIN fees to fall for 2021

Renewals and new applications will cost $35.95, down from $40.

By Jeff Stimpson
Freelance writer

July 16
Accounting standards

FASB proposes changes in conceptual framework to define elements in financial statements

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements.

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

July 16
AT Think Can an auditor withdraw from an audit?

No matter how perfect the partnership between an audit firm and client may seem, sometimes the partnership doesn’t work out.

July 16

Joseph Kirkpatrick

Kirkpatrick Price LLC
International accounting

Monitoring Group proposes changes to int'l auditing and ethics standard-setting

IFAC, the IAASB and IESBA will remain involved in setting standards, but with changes in governance and composition.

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

July 14

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.