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.

Audit

AICPA Drafts Revenue Recognition Guidance for Broker-Dealers and Banks

The American Institute of CPAs Financial Reporting Executive Committee is asking for feedback on three new working drafts of guidance for broker-dealers and depository and lending institutions on the Financial Accounting Standards Boards revenue recognition standard.

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

November 2
Audit

IASB Unveils 5-Year Plan for International Standards

The International Accounting Standards Board has released its five-year work plan for International Financial Reporting Standards, with a focus on completing its insurance contracts standard and revising its conceptual framework.

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

November 2
Audit

BDO Teams with CoStar on Lease Accounting

BDO USA LLP is partnering with CoStar Groups CoStar Real Estate Manager division to advise companies on complying with the lease accounting standard.

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

November 1
Audit

Tesco Investors Sue U.K. Retailer over 2014 Accounting Scandal

More than 125 institutional investors sued Tesco Plc, seeking in excess of 100 million pounds ($122 million) over the U.K. grocers 2014 profit overstatement.

October 31
Audit

FASB Updates Standards for Income Taxes and Asset Transfers

The Financial Accounting Standards Board has released an accounting standards update for income taxes related to intra-entity transfers of assets other than inventory.

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

October 27
Audit

FASB Amends Standards for Variable Interest Entities

The Financial Accounting Standards Board has released an accounting standards update on how to treat consolidations of interests held through related parties that are under common control.

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

October 27
AT Think AICPA Extends Reach of Its Standards

The American Institute of CPAs is broadening the range of services to which its Statements on Standards for Accounting and Review Services apply, covering not only reviews of financial statements, but also preparation of financial statements and compilation of prospective financial information.

October 26

Michael Cohn

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.