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 proposes hedge accounting interest rate tweak

The Financial Accounting Standards Board issued a proposal Tuesday to expand the list of benchmark interest rates allowed for hedge accounting.

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

February 20
Accounting fraud

Steinhoff ex-partner wins case against scandal-hit retailer

Steinhoff International Holdings NV lost a case against a former business partner related to how it reported financials for 2016, the first major legal setback for the global retailer as it battles an accounting scandal.

February 20
AT Think The ABCs of better independence compliance

Awareness, communication and documentation are the keys to staying independent.

February 19

Cathy Allen

Audit Conduct
Accounting standards

FASB updates accounting for stranded income taxes under the Tax Cuts and Jobs Act

The Financial Accounting Standards Board released an accounting standards update Wednesday to help companies deal with the stranded income tax effects in accumulated other comprehensive income stemming from the Tax Cuts and Jobs Act.

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

February 14
M&A

PwC sells its U.S. public sector business

PricewaterhouseCoopers signed an agreement Wednesday to sell its U.S. Public Sector business to the private equity firm Veritas Capital.

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

February 14
Accounting standards

Xactly acquires Obero

The buy adds incentive management capabilities that help companies comply with the new rev-rec standard.

By Ranica Arrowsmith
Technology Editor

February 14
Accounting standards

FASB plans accounting changes in reaction to Tax Cuts and Jobs Act

The Financial Accounting Standards Board is moving forward with a proposed accounting standards update to reclassify the stranded tax effects from the Tax Cuts and Jobs Act of 2017, although at least one investor group has some concerns.

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

February 13

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.