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

IAASB Revises Auditing Standard on Summary Financial Statements

The International Auditing and Assurance Standards Board has released ISA 810 (Revised), Engagements to Report on Summary Financial Statements.

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

March 28
AT Think Plenty of Work Ahead for Lessees Adjusting to New Leasing Standard

The new lease accounting standard is likely to have a much greater impact on lessees than lessors.

March 24

Michael Cohn
Audit

GASB Releases Implementation Guidance on Recent Standards

The Governmental Accounting Standards Board has issued implementation guidance containing questions and answers to clarify some of its recent standards.

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

March 24
Associations

AICPA Sets Date for Vote on Going International

The American Institute of CPAs plans to e-mail out ballots to CPAs the week of April 18, immediately after tax season, to vote on a proposal to set up an Association of International CPAs in partnership with the London-based Chartered Institute of Management Accountants.

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

March 24
AT Think FASB Sets Up Transition Group for Credit Loss Standard

The Financial Accounting Standards Board has named the members who will serve on a Transition Resource Group to help with implementation of its upcoming credit losses standard.

March 22

Michael Cohn
AT Think India Not Ready for New Accounting Standards

More than half of companies in India are not yet ready for new Indian Accounting Standards, according to a new survey.

March 21

Michael Cohn
Audit

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

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.