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 IFAC Standards Boards Seek Nominees

Four of the International Federation of Accountants standard-setting boards are looking for new members with the right stuff.

January 14

Michael Cohn
AT Think Should U.S. Companies Get an IFRS Option?

James Schnurr, the recently appointed chief accountant at the Securities and Exchange Commission, had an intriguing suggestion recently: why not allow U.S. companies to use International Financial Reporting Standards on a voluntary basis as a supplement to their U.S. GAAP financial statements?

January 2

Michael Cohn
Accounting standards

Assurance News

A roundup of audit and attest news from the past month.

January 1
Audit

CSC to Pay $190mn to Settle SEC Accounting Probe

Computer Sciences Corp. reached a proposed settlement with the SEC over an accounting probe, agreeing to pay $190 million and adjust its financial statements.

December 29
Audit

SASB Proposes Sustainability Accounting Standards for Service Industries

The Sustainability Accounting Standards Board has released a set of provisional sustainability accounting standards for 10 industries within the services sector.

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

December 17
Audit

IASB and FASB Look Beyond Convergence

Officials from the Financial Accounting Standards Board and the International Accounting Standards Board spoke about the path forward on harmonizing U.S. GAAP with International Financial Reporting Standards as the two boards near the end of their convergence efforts.

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

December 9
Audit

SEC Considers Supplemental Use of IFRS by U.S. Companies

Securities and Exchange Commission officials told CPAs Monday that they are considering allowing U.S. companies to provide some information, such as revenue, in International Financial Reporting Standards as a supplement to their U.S. GAAP financials on a voluntary basis.

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

December 8

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.