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

FASAB releases interpretation of cleanup cost liabilities standard

The Federal Accounting Standards Advisory Board has issued an interpretation of some recent standards involving cost provisions among multiple entities who are liable for cleanup costs.

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

August 21
Accounting firm services

AICPA offers guidance on materiality in attestations

The discussion paper explains some of the challenges when a subject can’t be measured quantitatively.

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

August 21
Accounting standards

FASB proposes delaying insurance standard

The proposed update would give insurers an extra year to implement the new rules.

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

August 21
FASB

FAF appoints new chair of FASAC and PCC members

Michael Morrow will be the new chair of the Financial Accounting Standards Advisory Council, and new members are joining the Private Company Council.

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

August 20
AT Think Unlocking extra value from an IC-DISC

Most CPAs are familiar with the tax benefit of using an IC-DISC, but many do not realize the additional benefit that can be generated by a different method of calculation.

August 20

Dave McGuire

McGuire Sponsel
Document management

Shred alert: How preparers dispose of sensitive documents

Shredding paper documents and destroying digital files are critical for data security.

By Jeff Stimpson
Freelance writer

August 20
Accounting standards

Markopolos’s GE warning on accounting is important to all U.S. life insurers

His analysis underscored how sweeping accounting changes coming in the next few years are raising questions for the life insurance industry.

By Katherine Chiglinsky
Reporter

August 19

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.