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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FASB and IASB Plan Roundtables on Leasing Proposals

The Financial Accounting Standards Board and the International Accounting Standards Board plan to host a series of joint public roundtable meetings on different continents to discuss their revised joint proposals on leasing standards that were published in May.

July 2
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FASB Issues Proposals for Private Company Accounting

The Financial Accounting Standards Board has issued for public comment three proposals to address the concerns of private companies about accounting for intangible assets acquired in business combinations, goodwill, and certain types of interest rate swaps under U.S. GAAP.

July 1
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FASB Proposes Major Changes in Insurance Accounting

The Financial Accounting Standards Board is expected to issue a document Thursday proposing to improve the financial reporting of insurance contracts, including the measurement of insurance liabilities and the related effect on the statement of comprehensive income.

June 27
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FASB Proposes Improving Going Concern Uncertainty Disclosures

The Financial Accounting Standards Board has issued a proposal to improve disclosures of uncertainties related to an organizations ability to continue as a going concern.

June 27
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GASB Proposes Changing Fair Value Standards for State and Local Governments

The Governmental Accounting Standards Board has issued for public comment a proposed concepts statement that would guide GASB when establishing standards regarding the measurement of assets and liabilities for U.S. state and local governments.

June 20
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IASB Revises Proposals for Insurance Contract Accounting

The International Accounting Standards Board has issued a revised exposure draft containing proposals for changing the accounting for insurance contracts.

June 20
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New York CPAs Object to Auditor Reporting Proposal

The New York State Society of CPAs has expressed concern that an International Audit and Assurance Standards Board proposal that aims to make auditor reporting more transparent and improve users understanding of audited financial statements goes too far in expanding the scope of auditor responsibilities.

June 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.