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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Management Accountants Getting Raises in Some Specialties, but Not Others

Compensation for management accounting and finance professionals rose by an average of 7.1 percent last year, according to a new survey, but some specialties received raises while others saw their salaries remain stagnant.

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

March 10
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SEC Adopts 2015 GAAP Financial Reporting Taxonomy

The Financial Accounting Standards Board said Monday that the Securities and Exchange Commission has adopted its 2015 GAAP Financial Reporting Taxonomy, which uses XBRL format.

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

March 9
AT Think Accounting Boards Mull Changes to Revenue Recognition Standard That Could Produce Divergence

The Financial Accounting Standards Board and the International Accounting Standards Board are considering some changes to their converged revenue recognition standard that could lead to divergence after hearing feedback from the Joint Transition Resource Group that is examining implementation issues.

March 9

Michael Cohn
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The Spirit of Accounting: Information versus Pseudo-Information

Financial reports that incorporate assumptions arent worth a dime for actually reducing uncertainty.

March 8
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Irish CPAs Strike Deal with Russian CPAs

An organization of Irish accountants has signed an agreement with a Russian accounting organization, to provide education, training, examination, an online certificate in financial reporting and an array of other areas.

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

March 6
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Noble Calls Accounting Allegations Made by Iceberg 'False'

Noble Group Ltd. denied inflating the balance-sheet value of contracts as Asias biggest commodities trading house published a rebuttal against allegations by Iceberg Research, an anonymous group thats questioned the companys accounting methods. Nobles shares rose.

March 6
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FASB Proposes Accounting Standards Change for Nonprofits

The Financial Accounting Standards Board has voted to issue a proposed accounting standards update to improve the financial statements for not-for-profit organizations and ask for public comments.

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

March 5

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.