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 Automating and synchronizing forward-looking financial statements

The first quarter is quickly coming to an end, and finance teams around the country are busy preparing for questions from the board.

March 18

Jason Lin

Centage Corporation
AT Think A spur to change

Coronavirus is an opportunity for the accounting profession to make strides in two important areas.

March 17

Daniel Hood

Accounting Today
Accounting standards

AICPA proposes guidance on insurance accounting

The American Institute of CPAs’s Financial Reporting Committee released working drafts of two pieces of implementation guidance for the Financial Accounting Standards Board’s long-duration insurance contracts standard.

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

March 16
Tax fraud

The war on fraud: Protecting clients from tax scams

Practitioners are working on education, prevention and remediation.

By Jeff Stimpson
Freelance writer

March 13
AT Think After the CECL transition: Now comes the hard part

The Financial Accounting Standards Board issued the Current Expected Credit Loss (CECL) accounting standard in 2016. Since then, many questions have been raised about what it requires, particularly by financial services companies.

March 12

Scott Dietz

Moody's Analytics
Accounting standards

FASB offers guidance on LIBOR transition

The board's ASU offers temporary optional guidance to help with the accounting for reference rate reform.

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

March 12
AICPA

AICPA introduces SOC for Supply Chain reporting framework

The American Institute of CPAs has debuted SOC for Supply Chain, a risk management reporting framework that CPAs can use to provide assurance services as they face risks in their supply chain ranging from coronavirus to trade to other threats.

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

March 12

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.