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.

AT Think Herz and Tweedie Reflect on Convergence Efforts

Baruch College in New York brought together the former chairman of the Financial Accounting Standards Board, Bob Herz, and the former chairman of the International Accounting Standards Board, Sir David Tweedie, last month to discuss the evolution of accounting standards and the convergence process.

May 20

Michael Cohn
Audit

FAF Reports on Building a Better GAAP’

The Financial Accounting Foundation has released its 2014 annual report, which focuses on its recently released strategic plan.

By Daniel Hood
Editor-in-chief

May 18
Audit

Toshiba Names Third-Party Panel to Expand Accounting Probe

Toshiba Corp. named two lawyers and two certified public accountants to a third-party committee that is expanding an investigation started by an internal probe last month over accounting practices.

May 18
AT Think IFAC Weighs in on European Proposal for Capital Markets Union

The International Federation of Accountants has submitted a response to the European Commission regarding a recent green paper on building a stronger capital markets union.

May 15

Michael Cohn
Audit

FASB Proposes Tweaks to Revenue Recognition Guidance

The Financial Accounting Standards Board has released a proposed accounting standards update to clarify the guidance on performance obligations and licensing contained in the new revenue recognition standard.

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

May 12
Audit

Groups Worried about Future of Private Company Council

The Private Company Council that the Financial Accounting Foundation created three years ago appears to be fulfilling its mission of providing relief for privately held companies from onerous accounting requirements, but some groups are worried that it will lose its powers and independence.

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

May 12
Audit

Toshiba Drops $2.8 Billion in Value on Probe into Accounting

Toshiba Corp. lost $2.8 billion in market value after the industrial and electronics group withdrew its earnings forecast pending an internal probe into improper accounting on infrastructure projects.

May 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.