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.

Government accounting

FASAB issues guidance on loss allowance for receivables

A new technical bulletin aims to clarify the loss allowance standards for AR and related recognition standards and reporting.

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

February 21
Accounting standards

GASB proposes to improve guidance around note disclosures

The board is looking for comment on a proposed concepts statement around the issue.

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

February 21
Consulting

Boomer Consulting to certify consultants

Boomer Consulting Inc. is launching Boomer Certified Consultant Training, a year-long training program designed to teach accountants how to develop and deliver consulting and advisory services.

By Daniel Hood
Editor-in-chief

February 21
IRS

NSA chimes in on IRS restructuring

The organization recommends more practitioner input on training, among other things.

By Jeff Stimpson
Freelance writer

February 20
Accounting software

FinancialForce CEO sees growth, with help from Salesforce

Tod Nielsen is looking back on a year of revenue growth and leveraging his company’s relationship with Salesforce to add more features to FinancialForce's accounting software and attract customers.

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

February 20
CSR reporting

IIRC plans major revision to integrated reporting framework

The International Integrated Reporting Council is asking for feedback on its set of integrated reporting principles, the International Framework, encompassing financial and nonfinancial areas such as sustainability, strategy and governance.

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

February 20
Coronavirus

SEC and PCAOB offer potential relief for audit firms in China amid coronavirus

Leaders of the Securities and Exchange Commission and the Public Company Accounting Oversight Board issued a joint statement Wednesday about the impact of the coronavirus on audit firms trying to operate in China.

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

February 19

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.