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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IIRC Releases Draft Framework for Integrated Reporting

The International Integrated Reporting Council has issued a consultation draft of its International Integrated Reporting Framework, which aims to create the foundations for a new reporting model that will enable a business to provide a concise communication of how it creates value over time.

April 16
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FASB Previews Framework for Deciding on Accounting Standards Changes for Private Companies

The Financial Accounting Standards Board and the Private Company Council have released an invitation to comment on their proposed decision-making framework for determining when exceptions to accounting standards should be made for privately held companies.

April 15
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Accounting Standards Advisory Forum Holds First Meeting

Members of the Accounting Standards Advisory Forum held their inaugural meeting in London on Monday and Tuesday and signed a joint memorandum of understanding under which the standard-setters from around the world will provide advice to the International Accounting Standards Board.

April 9
Career moves

Iowa Auditor of State David Vaudt to Chair GASB

The Financial Accounting Foundation has named Iowa Auditor of State David A. Vaudt as the next chairman of the Governmental Accounting Standards Board, succeeding Robert Attmore.

April 4
Accounting standards

SEC OKs Social Media for Disclosure

A report from the Securities and Exchange Commission clears companies to use social media outlets like Facebook and Twitter to announce key information, provided that investors have been alerted about which social media will be used.

April 2
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FASB Proposes Update to Reporting on Discontinued Ops

The Financial Accounting Standards Board is proposing improvements to financial reporting about discontinued operations of major business lines or major geographic areas of operations.

April 2
AT Think The Spirit of Accounting: The Answer Is in Truth-Telling, Not Detailed or Broad Standards

We are republishing some classic Spirit of Accounting columns while we're extra-busy with a new major project. We selected this one because (alas!) several of its points are just as valid today as they were when it was printed in October 2002

April 1

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.