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.

Financial reporting

GE’s accounting for earnings is unfathomable, and investors and SEC are noticing

Last quarter, General Electric Co. reported earnings of 28 cents a share. Also 13 cents a share, 19 cents a share and 15 cents a share—all at the same time.

October 16
Tax franchises

Paramount Tax & Accounting joins major franchise group

As part of the United Franchise Group, the company aims to leverage the experience of CPAs to compete with major chains.

By Jeff Stimpson
Freelance writer

October 12
CSR reporting

The next phase in sustainability disclosure is coming: Q&A

SASB’s Jean Rogers discusses the board’s coming set of standards.

October 12
Audit

CAQ foresees risks during upcoming audits

Two alerts spotlight some potential risks facing firms during the 2017 audit cycle.

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

October 11
AT Think Goodwill Hunting: Elimination of Step 2 and the implications for public companies

The elimination of Step 2 in FASB's goodwill impairment test may result in more frequent reporting of impairment, as well as a change in the magnitude of the impairment charge.

October 11

Jane Myung

Valuation Research Corporation
Tax scams

IRS warns e-Services users of new phishing scam

The Internal Revenue Service issued a new warning Tuesday to users of its online e-Services cautioning them to beware of a new phishing scam that attempts to trick tax professionals into “signing” a new e-Services user agreement.

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

October 10
Accounting firm networks

KPMG revamps South African top management as clients dump firm

KPMG LLP’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm as clients continued to distance themselves over its involvement with the politically connected Gupta family.

October 10

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.