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.

Audit

Accounting Boards Work to Cut Disclosure Overload

The International Accounting Standards Board has released some of the findings from a survey it recently conducted on financial disclosures in which it asked accountants and financial statement users what factors are contributing to disclosure overload.

January 28
Audit

IAASB Proposes New Framework for Enhancing Audit Quality

The International Auditing and Assurance Standards Board has released for public comment a new consultation paper aimed at improving the quality of audits.

January 23
Audit

GASB Publishes New Standard on Government Combinations and Disposals

The Governmental Accounting Standards Board has released new standards aimed at improving the accounting and reporting of combinations and disposals of government operations for U.S. state and local governments.

January 22
Technology

Red Wing Releases Employee Tracking Tool for Pending Health Care Rules

Red Wing Software has created a report tool within its CenterPoint Payroll Software designed to track employee status for the upcoming Patient Protection and Affordable Care Act (PPACA) requirement that employers with 50 or more full time employers must offer health coverage.

January 17
Audit

Accounting Standard for Business Segment Reporting Mostly Works

The Financial Accounting Foundation has completed a post-implementation review of an accounting standard dating back to 1996 that aimed to improve the way public companies report financial information about their business segments, and found that it generally achieved that purpose, although some companies are being less than forthcoming about all of their business segments.

January 15
Audit

FASB Proposes to Improve Repo Agreement Accounting

The Financial Accounting Standards Board has issued for public comment a proposal to improve financial reporting about repurchase agreements such as the type used by Lehman Brothers.

January 15
Audit

IPSASB Begins Issuing Public Sector Conceptual Framework

The International Public Sector Accounting Standards Board has issued the first four chapters of its Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities.

January 14

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.