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

GASB revises standards for conduit debt obligations

The changes will provide a single method for government issuers to report on conduit debt obligations and related commitments.

By Danielle Lee
Editor-in-Chief

May 28
CECL

Companies lag on getting ready for CECL

Many banks and financial institutions are encountering challenges in preparing for the Financial Accounting Standards Board’s credit losses standard, according to a new survey.

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

May 23
Audit

PCAOB offers deeper dive into CAMs

The Public Company Accounting Oversight Board has published guidance from its staff on how auditors can communicate critical audit matters in their audit reports.

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

May 22
Accounting education

IMA’s updated Competency Framework broadens range of accounting skills

The Institute of Management Accountants is adding some new capabilities to help accountants stay relevant in a rapidly changing field.

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

May 22
Audit

KPMG fights ‘gargantuan’ $16M fine sought over BNY Mellon

The firm said the fine should be just a fraction of that size, at 1.4 million pounds.

May 21
Accounting standards

GASB proposes guidance to account for cloud computing and IT subscriptions

The Governmental Accounting Standards Board proposed new guidance on how state and local governments should handle the accounting and financial reporting for cloud computing and similar subscription-based information technology arrangements.

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

May 21
Tax preparers

E-services, e-filing down over Memorial Day

Some IRS systems will be unavailable from midnight on May 24 through 7 a.m. on May 28.

By Jeff Stimpson
Freelance writer

May 21

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.