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 Revises Proposed Changes in Financial Instruments Accounting Standards

The Financial Accounting Standards Board has issued a revised set of proposals for the financial instruments accounting standards it has been working to converge with International Financial Reporting Standards.

February 14
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PCAOB and FASB Face Possible Budget Cuts from Sequester

The U.S. regulator that oversees corporate audits could face automatic spending cuts designed to reduce the federal budget deficit even though it receives no taxpayer funding.

February 13
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Private Company Council Sets Agenda

The Private Company Council that will help set accounting standards for privately held businesses has decided to tackle three main projects for its agenda.

February 13
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Looking Back and Forward from 2012: What Really Happened?

A couple of real accounting changes occurred, but world accounting convergence got derailed.

February 8
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FASB Limits Fair Value Requirements for Private Companies and Nonprofits

The Financial Accounting Standards Board has issued an updated financial instruments standard clarifying how some fair value requirements do not apply to private companies and not-for-profit organizations.

February 7
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IASB and IIRC Sign Agreement to Develop Integrated Reporting Framework

The International Accounting Standards Board and the International Integrated Reporting Council have signed an agreement to develop an integrated corporate reporting framework that includes financial, governance, management commentary and sustainability reporting.

February 7
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FASB Issues Standard on Reclassifying out of Other Comprehensive Income

The Financial Accounting Standards Board has released an updated accounting standard for reporting amounts reclassified out of accumulated other comprehensive income.

February 6

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.