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

Goodwill impairments declined nearly 50% last year

U.S. public companies recorded $28.5 billion in goodwill impairment in 2016, half the $56.9 billion they reported in 2015, according to a new study.

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

November 16
CPAs

KSDT sponsors NASCAR racers at Ford EcoBoost 300

South Florida firm Kabat, Schertzer, De La Torre, Taraboulos and Co. will be featured on multiple cars at the Nov. 18 event.

By Sean McCabe
Senior Editor

November 16
AT Think Key revenue recognition considerations as the effective date nears

Mark your calendars! The effective date for the FASB and IASB’s new revenue recognition accounting standards (ASC 606 and IFRS 15) is approaching.

November 15

Dusty Stallings

PwC
Accounting standards

Software companies may see earnings volatility under revenue recognition standard

The upcoming revenue recognition standard is likely to accelerate the earnings of many software companies, with many developers likely to transition from upfront license sales to subscriptions, according to a new report.

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

November 15
Accounting standards

James Kroeker reappointed as FASB vice chair, as new board member is named

The Financial Accounting Foundation has reappointed James L. Kroeker to a second term as vice chairman of the Financial Accounting Standards Board and appointed Gary R. Buesser, a portfolio manager and financial analyst, as a new FASB member, starting July 1, 2018.

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

November 15
Accounting standards

Companies implement technology to tackle revenue recognition and leasing standards

Many businesses are still getting ready for the new revenue recognition and leasing standards, and in some cases that involves changing their technology and processes.

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

November 15
Blockchain

SEC looks at blockchain technology for accountants and eyes initial coin offerings

The Securities and Exchange Commission is taking a close look at the trend toward blockchain technology, including the burgeoning investments in bitcoin and initial coin offerings.

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

November 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.