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.

Accounting standards

FASB updates accounting for income taxes

ASU 2019-12 aims to simplify Topic 740 in GAAP.

By Daniel Hood
Editor-in-chief

December 18
M&A

Sikich expands into D.C. area

The Top 100 Firm is acquiring Alexandria, Virginia-based Halt, Buzas & Powell.

By Daniel Hood
Editor-in-chief

December 18
EITC

IRS sending EITC warning letters to preparers

The agency is once again reaching out to practitioners who originated problematic returns.

By Jeff Stimpson
Freelance writer

December 17
AT Think 3 common mistakes in lease accounting

FASB’s delay of the effective date of ASC 842 for private companies is a gift to businesses struggling to get the new lease standard right.

December 17

Will Tanem

BPM
AT Think Better client onboarding: Power of the personal cash flow statement

To get a better handle on your client’s personal cash flow situation, you need to go beyond their business and understand their family financial dynamics.

December 16

Kyle Walters

L&H CPAs and Advisors
M&A

Citrin Cooperman adds LA entertainment firm

The Top 25 Firm has merged in Mejia & Kaplan, which specializes in serving entertainers and performing artist clients.

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

December 16
Tax preparation

Fee time: What to say to price shoppers

Tax pros share their strategies for dealing with cost-conscious clients.

By Jeff Stimpson
Freelance writer

December 13

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.