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

AICPA drafts more revenue recognition guidance

The American Institute of CPAs’ Financial Reporting Executive Committee has released several more working drafts of industry-specific guidance related to various implementation issues involving the revenue recognition standard and is asking for feedback on them.

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

July 5
Expense management software

The expense reporting nightmare eases

Automation and other advances are making handling T&E less of a pain.

By Antoinette Alexander

July 5
Audit

Ex-KPMG South Africa chief denies wrongdoing during Gupta audit

Moses Kgosana, who withdrew from taking the post as chairman of Alexander Forbes Group Holdings Ltd. in the wake of allegations related to his tenure as chief executive officer and senior partner at KPMG South Africa, said he offered to step aside from the position.

July 5
AT Think Boomer’s Blueprint: Blockchain — hype or reality?

CPAs have a great opportunity to lead with this technology, rather than following it.

July 5

L. Gary Boomer

Boomer Consulting Inc.
Audit

Ex-KPMG South Africa boss quits new role to face Gupta claims

Moses Kgosana, who was due to take the role of Alexander Forbes Group Holdings Ltd. chairman at the end of August, withdrew from the position after allegations emerged related to his tenure as chief executive officer and senior partner at KPMG South Africa.

July 3
AT Think Tax Strategy: Supreme Court rules on tax-exempt hospitals and church plans

A surprise ruling in an ERISA case reverses earlier courts.

July 3

Mark A. Luscombe

Wolters Kluwer Tax & Accounting
AT Think The Spirit of Accounting: Innovation in financial reporting

Accounting standards -- and accountants -- are struggling to achieve relevance in the 21st century

July 3

Paul B.W. Miller

University of Colorado and Colorado Springs

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.