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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Assurance News

A roundup of assurance-related news

November 1
Accounting standards

The Spirit of Accounting

FASB's proposed lease accounting rules really do try to get more useful information about assets and liabilities into financial statements. However, we don't think it's strong enough, because it doesn't cleanly address the No. 1 priority issue that asks whether off-balance-sheet financing has any legitimacy in financial reporting.

November 1
Financial reporting

FASB, IASB Refocus on Financial Disclosures

The Financial Accounting Standards Board and the International Accounting Standards Board are revealing further details about their long-stalled plans for creating a Disclosure Framework to help accountants decide on which notes to include with financial statements.

November 1
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FASB Chairman Golden Plots Path Forward for U.S. GAAP

Russell Golden, the recently appointed chairman of the Financial Accounting Standards Board, discussed the road ahead for FASB after the board marked its 40th anniversary earlier this year as it continues its efforts to reach a consensus with the International Accounting Standards Board on their remaining convergence projects.

October 31
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PCAOB Plans to Focus on Revenue Audits

The Public Company Accounting Oversight Board plans to turn its attention to auditing standards involving revenue recognition, according to one of the PCAOB members.

October 29
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AICPA Proposes Big Changes to Compilation Standards

The American Institute of CPAs Accounting and Review Services Committee has issued an exposure draft proposing three new and revised standards that would make significant changes in how accountants perform compilation engagements.

October 24
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Deloitte Opens U.S. GAAP Information Site

Deloitte has launched US GAAP Plus, a new Web site that provides news, publications and project updates about U.S. and international accounting standard setting.

October 17

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.