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

CAQ Issues Alerts on Risks for Upcoming Audit Cycle

The Center for Audit Quality published two new member alerts to help public company auditing firms quickly and proactively address potential risks.

October 4
Tax practice

Groups Push FASB to Require Multinational Companies to Disclose More Tax Information

A group of advocacy organizations is urging the Financial Accounting Standards Board to require multinational companies to disclose more information about their taxes.

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

September 30
Audit

FASB Proposes Changing Standards for Insurance Contracts

The Financial Accounting Standards Board has issued a proposed accounting standards update for improving the financial reporting for long-term insurance contracts, including life insurance, disability income, long-term care and annuities.

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

September 29
AT Think FASB Technical Corrections Signal Progress on New Rev Rec Standard

The Financial Accounting Standards Boards recent set of proposed technical corrections to its revenue recognition standard are a sign that more companies are getting serious about implementing them.

September 28

Michael Cohn
Audit

Sustainability Disclosures Making Headway in Reports

Companies are beginning to revamp their financial reports to incorporate sustainability disclosures in response to demand from investors.

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

September 27
AT Think AICPA Clarifies Pro Forma Compilation Standard

The American Institute of CPAs Accounting and Review Services Committee has finished the last of the standards it has been redrafting and clarifying as part of the AICPAs Clarity Project.

September 26

Michael Cohn
Audit

GASB Proposes Omnibus Statement to Address Wide Range of Accounting Issues

The Governmental Accounting Standards Board proposed guidance Monday to address a broad set of accounting and financial reporting issues to help state and local governments deal with the implementation and application of certain GASB pronouncements.

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

September 26

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.