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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FASB Amends Revenue Recognition Standard

The Financial Accounting Standards Board has amended the converged revenue recognition standard it developed with the International Accounting Standards Board to add more guidance about principal versus agent considerations.

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

March 18
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Toshiba Said to Face U.S. Probe over Westinghouse Accounting

Toshiba Corp. is under investigation by the U.S. over allegations that it hid $1.3 billion in losses at its nuclear power operations, according to two people familiar with the matter. Shares plunged in Tokyo.

March 17
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FASB Streamlines Move to Equity Method of Accounting

The Financial Accounting Standards Board has issued an accounting standards update making it easier for companies to transition to the equity method of accounting.

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

March 16
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Mergers Lead to Intercompany Accounting Risks

Mergers and acquisitions are prompting companies to take risky accounting maneuvers, warns a new report from Deloitte.

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

March 16
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FASB Updates Standards for Put and Call Options

The Financial Accounting Standards Boards Emerging Issues Task Force has issued an accounting standards update for contingent put and call options in debt instruments.

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

March 14
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FASB Clarifies Standards for Prepaid Cards

The Financial Accounting Standards Boards Emerging Issues Task Force has issued an accounting standards update to address the extinguishment of liabilities and recognition of breakage for prepaid stored-value products, such as gift cards, telephone cards and travelers checks.

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

March 11
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FASB Updates Standards on Derivatives and Hedging

The Financial Accounting Standards Boards Emerging Issues Task Force has issued an accounting standards update on the effect of derivative contract novations on existing hedge accounting relationships.

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

March 11

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.