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.

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GASB Proposes Guidance on Extinguishing Debt

The Governmental Accounting Standards Board released on exposure draft proposing guidance on extinguishing debt prior to maturity.

By Daniel Hood
Editor-in-chief

August 29
AT Think Adjusting to FASB's New Not-for-Profit Standard

Nonprofit organizations and their accountants may want to adopt Financial Accounting Standards Boards new standard for not-for-profits early before they have to begin adjusting to some of the other new standards coming out from FASB.

August 25

Michael Cohn
AT Think PwC Offers Quick Take on Lease Accounting Standard

PricewaterhouseCoopers has released a quick overview of the Financial Accounting Standards Boards lease accounting standard.

August 24

Michael Cohn
Audit

PCAOB Signs Pact with New German Audit Overseer

The Public Company Accounting Oversight Board has inked a cooperative agreement with the German Auditor Oversight Body, a new regulator for audit firms in Germany.

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

August 24
Audit

GASB Pollution Remediation Standard Provides Useful Info

A review of the Governmental Accounting Standards Boards 2006 standard for pollution remediation reporting found it generally achieved its goal of improving the disclosures of state and local governments obligations to control pollution.

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

August 23
Audit

FASB Releases Not-for-Profit Accounting Standard

The Financial Accounting Standards Board released its long-awaited accounting standards update for not-for-profit financial reporting, albeit with scaled back ambitions to keep the standards for nonprofit organizations aligned with standards for businesses.

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

August 18
Audit

IIA and IFAC Renew Their Vows

The Institute of Internal Auditors and the International Federation of Accountants have renewed an agreement to collaborate on advancing auditing and accounting practices around the world.

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

August 15

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.