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.

Financial reporting

Resistance mounts to companies obscuring coronavirus impact in financials

A backlash is growing among regulators and participants against EBITDA — earnings before interest, taxes, depreciation, amortization and coronavirus.

By Katie Linsell and Olivia Konotey-Ahulu

June 12
KPMG

KPMG gets reprimand from U.K. regulator over reserves audits

The firm admitted shortcomings in three years of work for a client, which had to restate its distributable reserves twice.

By Stephanie Bodoni
Reporter

June 12
GASB

GASB proposes guidance for CARES Act and coronavirus

The Governmental Accounting Standards Board released a proposed technical bulletin Thursday from its staff with application guidance on the CARES Act and outflows incurred by state and local governments in response to the COVID-19 pandemic.

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

June 11
AT Think Guess who’s running the firm of 2030?

Today's leaders need to adapt to operating in the world of the future — today.

June 11

Gary Shamis and Ilana Isakov Katz
Accounting standards

FASB OKs two standards and delays insurance standard amid coronavirus

The meeting was the last in chairman Russell Golden’s term.

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

June 10
PwC

Steinhoff pays for PwC to help South African police graft probe

Steinhoff International Holdings NV is paying for forensic auditors at PwC to help South African anti-corruption police investigate alleged financial wrongdoing that brought the retailer to the brink of collapse.

By Janice Kew
Reporter

June 10
Accounting standards

GASB releases guidance on cloud-based IT subscriptions

The Governmental Accounting Standards Board published accounting and financial reporting guidance on subscription-based information technology arrangements.

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

June 8

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.