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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FAF Names New PCC Chair

The Financial Accounting Foundation has named Candace Wright as the next chair of the Private Company Council.

By Daniel Hood
Editor-in-chief

August 18
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FASB Purchase Price Accounting Change Should Reduce Cost and Complexity

Last December, based on a recommendation from the Private Company Council, the Financial Accounting Standards Board issued a notable accounting standards update for intangible assets in business combinations.

August 18
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ASB Proposes Amending Auditor’s Report Auditing Standard

The American Institute of CPAs' Auditing Standards Board has issued a new exposure draft proposing amendments to the auditing standard on auditors reports.

By Daniel Hood
Editor-in-chief

August 17
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GASB Requires Disclosure of Tax Abatements

The Governmental Accounting Standards Board has issued final guidance that requires state and local governments for the first time to disclose information about tax abatement agreements.

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

August 14
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FASB Updates Accounting Standards for Electricity Contracts

The Financial Accounting Standards Board has issued an accounting standards update on derivatives and hedging related to electricity contracts.

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

August 14
AT Think FASB Makes It Official on Deferral of Revenue Recognition

The Financial Accounting Standards Board issued an accounting standards update on Wednesday deferring by one year the effective date of the converged revenue recognition standard that it released last year with the International Accounting Standards Board.

August 12

Michael Cohn
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AICPA Outlines Concerns about Proposed Changes in Nonprofit Accounting

The American Institute of CPAs has sent a comment letter to the Financial Accounting Standards Board weighing in on proposed changes in accounting standards for not-for-profits and saying they could create divergence from the financial reporting model used by for-profit businesses.

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

August 12

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.