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.

CECL

FASB proposes to tweak CECL standard

The Financial Accounting Standards Board released a proposed accounting standards update Monday to amend the transition requirements and scope of the credit losses standard that it issued in 2016.

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

August 20
Accounting firm services

CPAs continue fight against opening ABV credential to non-CPAs

A group of CPAs is stepping up its efforts to force the American Institute of CPAs to change its decision about opening the Accredited in Business Valuation credential to non-CPAs.

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

August 20
Audit

KPMG’s annus horribilis continues with fine for Ted Baker audits

For KPMG, another week, another rebuke from U.K. accounting regulators.

August 20
AT Think Seven safeguards to combat payroll fraud

These long-lasting schemes can wreak havoc on a business.

August 20

Tiffany Couch

Acuity Forensics
Financial reporting

SEC streamlines disclosure requirements

The Securities and Exchange Commission voted Friday to simplify some of its disclosure requirements that have become outdated, duplicative or overlapping because of changes in the information environment or U.S. GAAP, or because of other SEC disclosure requirements.

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

August 17
AT Think 6 things your clients should do after incorporating

Running a corporation or LLC is different than running a sole proprietorship — and your client’s legal obligations don’t end after filing the formation paperwork.

August 17

Nellie Akalp

CorpNet.com
AT Think How blockchain can help accountants address food safety

CPAs often talk about becoming strategic partners to help drive business decisions, and food safety is a real-world problem with a real-world impact.

August 16

Sean Stein Smith

Lehman College

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.