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 Proposes Technical Corrections in Revenue Recognition Standard

The Financial Accounting Standards Board has proposed a set of technical corrections and improvements to its revenue recognition accounting standard.

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

September 20
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Three Ex-Tesco Executives Charged in U.K. Accounting Scandal

Three former Tesco Plc executives were charged with fraud and false accounting by the U.K. Serious Fraud Office, after a multi-million dollar shortfall discovered two years ago led to a criminal investigation of the grocers finances.

September 9
AT Think Encouraging Accounting Groups to Work Together

The International Federation of Accountants wants accountant organizations to partner together more widely and share their success stories and best practices.

September 9

Michael Cohn
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FASB Proposes Changes in Hedge Accounting Standards

The Financial Accounting Standards Board proposed improvements Thursday in the accounting guidance for hedging activities.

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

September 8
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FASB Proposes Draft 2017 XBRL Taxonomy for U.S. GAAP

The Financial Accounting Standards Board has published a draft version of the proposed 2017 U.S. GAAP financial reporting taxonomy, along with the related release notes.

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

September 8
International accounting

Deloitte Increases Global Revenue in FY2016

Deloitte reported a revenue increase of 9.5 percent across its international network, for a total of US$36.8 billion in the fiscal year ending May 31, 2016.

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

September 7
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New Reporting Rules for Nonprofits

Implementation guidance on FASBs new NFP standards

September 2

Resources

The latest Accounting Today research and discussion:

Accounting firm services

Practice management

Consulting
Trusted Advisor 2.0

By Daniel Hood

September 28
Beyond the Buzz: Moving from AI Hype to Meaningful Impact

Weaving AI into client records, workflows, documents, and billing allows accounting firms increase to by offering client accounting services. Learn why an integrated platform outperforms standalone accounting solutions.

Partner Insights from Canopy
Beyond Research: Unlocking Hidden Value from AI

Generative AI adoption among accounting firms doubled in just one year. But many firms are barely scratching the surface, using AI primarily for tax research rather than to reimagine workflows

Partner Insights from Thomson Reuters

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.