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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Private Company Council Worried about FASB Debt Standard

The Private Company Council, a sister organization of the Financial Accounting Standards Board that represents the interests of privately held companies, has expressed major concerns about FASBs project on the balance sheet classification of debt.

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

February 17
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AICPA Offers Guidance on Conflict Minerals Reporting

The American Institute of CPAs Conflict Minerals Task Force has developed two new Q&A documents on conflict mineral disclosures mandated under the Dodd-Frank Act.

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

February 13
AT Think FASB and IASB Rev Rec Transition Group Makes Progress

The Financial Accounting Standards Board and the International Accounting Standards Board have been holding a series of meetings of their Joint Transition Resource Group as they prepare for implementation of their converged standard on revenue recognition.

February 11

Michael Cohn
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IASB Proposes Changes to Classification of Liabilities

The International Accounting Standards Board has published a set of proposals for clarifying how entities classify debt, especially when it comes up for renewal.

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

February 10
AT Think Financial Execs Object to Proposed Changes in Accounting for Income Taxes

Financial Executives International has sent a letter to the Financial Accounting Standards Board taking issue with FASBs recent proposed changes in the accounting standards for income taxes.

February 6

Michael Cohn
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India Moves Closer to IFRS Adoption

Indias Ministry of Corporate Affairs has released a revised roadmap for implementation of Indian Accounting Standards as part of its effort to converge with International Financial Reporting Standards.

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

February 5
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FASB Proposes Changes in Accounting for Income Taxes

The Financial Accounting Standards Board has issued an exposure draft of two proposed accounting standards updates that would affect the accounting for income taxes for businesses.

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

February 2

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.