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 Gets Pushback on Financial Instruments Accounting Changes from AICPA and ICAEW

The American Institute of CPAs and the Institute of Chartered Accountants in England and Wales are urging the Financial Accounting Standards Board to reconsider two separate elements of FASBs financial instruments convergence project with the International Accounting Standards Board.

June 11
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FASB Backs Proposals for Simplifying Private Company Accounting

The Financial Accounting Standards Board has endorsed three proposals from the Private Company Council that would simplify the accounting for privately held companies.

June 10
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AICPA Releases Non-GAAP Reporting Framework

The American Institute of CPAs has released its much-anticipated Financial Reporting Framework for Small- and Medium-Sized Entities, which is aimed at providing an alternative reporting option for small businesses that arent required to use GAAP.

June 10
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FASB Releases Standard to Clarify Investment Company Accounting

The Financial Accounting Standards Board has issued an accounting standards update setting forth a new approach for determining whether a public or private company is an investment company.

June 7
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Sustainability Standard Setters Sign Agreement

The Sustainability Accounting Standards Board has signed a memorandum of understanding with the Carbon Disclosure Project to deepen their partnership for advancing corporate disclosure on material sustainability issues.

June 5
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IFRS Foundation Charts IFRS Progress

The IFRS Foundation said Wednesday it has completed the first phase of an effort to assess the state of progress on global adoption of International Financial Reporting Standards.

June 5
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FASB Chair Leslie Seidman Previews Revenue Recognition Standard in Farewell Address

Leslie Seidman, the outgoing chair of the Financial Accounting Standards Board, spoke about her experiences leading the board and its work on the upcoming revenue recognition standard during a sometimes emotional speech Wednesday that will be the last of her term.

June 5

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.