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’s U.S. GAAP Codification Offered for Tablet Devices

The Financial Accounting Foundation has announced that the Financial Accounting Standards Boards FASB Accounting Standards Codification has been enabled for use on tablet devices.

January 31
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IASB Releases Interim Accounting Standards for Rate-Regulated Utilities

The International Accounting Standards Board has released an interim standard for businesses that engage in rate-regulated activities, such as gas, electric and water utility companies, even as a new report from two prominent accounting profession organizations outlines some of the challenges the IASB is facing.

January 30
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GASB Provides Implementation Guide for New Pension Standards

The Governmental Accounting Standards Board has released an implementation guide for the new GASB standards for accounting and financial reporting for pensions.

January 30
Accounting standards

Former Blackrock CFO Buller to Chair FASAC

The Financial Accounting Foundation has appointed Steven E. Buller, the managing director and former CFO of the investment management firm BlackRock, as the new chairman of the Financial Accounting Standards Advisory Council, a key advisory group for the Financial Accounting Standards Board, which the FAF oversees.

January 30
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AICPA Proposes Further Changes in Attestation Standards

The American Institute of CPAs Auditing Standards Board is proposing changes in subject-matter specific attestation standards.

January 30
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FASB Resets Its Future Priorities

The Financial Accounting Standards Board voted Wednesday to reorganize its future agenda to focus more closely on the issues most important to FASB stakeholders, as it anticipates completion of its remaining four convergence projects for harmonizing U.S. GAAP with International Financial Reporting Standards.

January 29
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New Lease Accounting Standards Could be a Technology Challenge

Nearly 80 percent of business executives surveyed last year by Deloitte anticipate that complying with the lease accounting standards that the Financial Accounting Standards Board and the International Accounting Standards Board have been collaborating on will be difficult, with concerns especially high about data quality and information technology systems.

January 29

Resources

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Trusted Advisor 2.0

By Daniel Hood

September 28
Beyond the Buzz: Moving from AI Hype to Meaningful Impact

Weaving AI into client records, workflows, documents, and billing allows accounting firms increase to by offering client accounting services. Learn why an integrated platform outperforms standalone accounting solutions.

Partner Insights from Canopy
Beyond Research: Unlocking Hidden Value from AI

Generative AI adoption among accounting firms doubled in just one year. But many firms are barely scratching the surface, using AI primarily for tax research rather than to reimagine workflows

Partner Insights from Thomson Reuters

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.