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.

Bookkeeping

QuickBooks Live will only hire Certified ProAdvisors, Intuit says

Now being a QuickBooks Online Certified ProAdvisor is one of the required qualifications for also participating in Live as a bookkeeper.

By Ranica Arrowsmith
Technology Editor

May 20
CPAs

AICPA names 2019 Gold Medal Award of Distinction recipient

The American Institute of CPAs honored James Leisenring, senior advisor to FASB, with the organization's highest honor.

By Sean McCabe
Senior Editor

May 20
Accounting fraud

China firm with accounting error used funds to trade shares

One of China’s largest listed drug makers said related parties used the firm’s funds to trade its shares, a day after the securities regulator alleged financial data had been fabricated.

May 20
Non-profits

AICPA guidance for nonprofits prompts questions

The clarification might lead to problems for some museums.

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

May 17
CECL

FASB offers fair value option to ease CECL transition

The Financial Accounting Standards Board is giving banks some leeway in applying the new credit losses standard.

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

May 15
AT Think How to build the team that will replace you

Many CPA partners and owners would like to see their firms remain independent and become a potential home for others.

May 14

Ira Rosenbloom

Optimum Strategies
Accounting standards

FASB proposes to simplify accounting for income taxes

The Financial Accounting Standards Board has released a proposed accounting standards update to reduce the cost and complexity of accounting for income taxes.

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

May 14

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.