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

Companies face financial reporting challenges during coronavirus pandemic

Public companies are dealing with a variety of financial reporting difficulties in the face of the unpredictable COVID-19 pandemic and the impact it’s having on businesses of all sizes.

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

April 27
International accounting

Luckin offices raided by Chinese regulators as accounting scandal widens

Chinese investigators raided the offices of Luckin Coffee Inc. as part of a multi-agency investigation into its finances, according to a person familiar with the matter, as pressure grows on the formerly high-flying coffee chain at the center of an accounting scandal.

By Bloomberg News

April 27
IRS

IRS seeks nominees for Advisory Council

Applications for IRSAC will be taken through June 12, 2020.

By Jeff Stimpson
Freelance writer

April 24
AT Think Economic uncertainty drives changes to leasing of long-lived assets

Recent events affecting the global financial health of businesses have forced CFOs and treasurers to conserve and preserve cash.

April 24

Len Neuhaus

LeaseAccelerator
GASB

GASB issues implementation guidance on pronouncements

The set of questions and answers explain how to implement and apply some of the board's recent pronouncements.

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

April 23
Financial planning

Accounting Today opens submissions for the Top Firms by AUM

Now in its 14th year, the Wealth Magnet report aims to highlight the biggest CPA-financial planners.

By Daniel Hood
Editor-in-chief

April 23
Audit

China called out in U.S. audit warning over emerging market investing

When it comes to companies exposed to emerging markets — most notably China — investors should beware the lack of visibility into their books.

By Jesse Hamilton and Robert Schmidt

April 22

Resources

The latest Accounting Today research and discussion:

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
The future of the accounting workforce

While concerns remain about the profession's pipeline of new accountants, Cathy Moy, chief people officer at BDO USA, sees plenty of ways to keep it full.

Sponsored by Intuit Quickbooks

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.