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.

Accounting standards

Board Revamps Accounting Education Standards

The International Accounting Education Standards Board has published three new International Education Standards, adjusting the suggested content of educational programs for initial professional development of aspiring accountants.

January 17
Audit

FASB Adjusts Standards on Goodwill and Interest Rate Swaps for Private Companies

The Financial Accounting Standards Board issued a pair of updates Thursday to U.S. GAAP to provide alternatives for private companies on the subsequent accounting for goodwill and for interest rate swaps.

January 16
Tax practice

Task Force Urges Reforms in State Financial Reporting

A task force that has been investigating the budget crisis affecting many states across the country is calling for major changes in the ways that states handle their budgeting and financial reporting.

January 15
Regulatory actions and programs

Assurance News

A roundup of audit and assurance from the previous month

January 1
Regulatory actions and programs

PCAOB Boosts Budget, Aims to Focus on Consulting

The Public Company Accounting Oversight Board approved a 2014 budget of $258.4 million, and a 2013-2017 strategic plan that includes a greater focus on accounting firms' burgeoning consulting practices.

January 1
AT Think The Spirit of Accounting: Comparability: Defined and Redefined

Miller & Bahnson reprise a column on the redefinition of comparability

January 1
Audit

FAF Adds Spruill as Trustee

The Financial Accounting Foundation has appointed investor and asset manager Ann Spruill to its Board of Trustees, effective Jan. 1, 2014.

December 31

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.