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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SEC Approves Standard on Audit Committee Communications

The Securities and Exchange Commission has approved Auditing Standard No. 16, Communications with Audit Committees, as well as amendments to other standards from the Public Company Accounting Oversight Board.

December 20
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FASB Proposes More Timely Recognition of Expected Credit Losses

The Financial Accounting Standards Board has released a proposal for comment to improve reporting on expected credit losses on loans and other financial assets held as investments by banks, financial institutions and other public and private organizations.

December 20
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IASB Sets Future Priorities

The International Accounting Standards Board has settled on its future agenda and priorities following a public consultation.

December 18
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FASB Releases Summary of Disclosure Effectiveness Forums

The Financial Accounting Standards Board and the Center for Audit Quality issued a summary Wednesday of observations from two forums on disclosure effectiveness.

December 12
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U.K. Accountants Call for an End to Convergence

A new report from the Institute of Chartered Accountants in England and Wales urges the International Accounting Standards Board to end the era of convergence, and give all listed companies around the world the option of applying International Financial Reporting Standards.

December 11
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Private Company Council Holds First Meeting

The Private Company Council held its inaugural meeting on Thursday to discuss how accounting standards should be adjusted for privately held companies.

December 6
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New Members Join FASB and GASB Advisory Councils

The Financial Accounting Foundations board of trustees has appointed four new members to the Financial Accounting Standards Advisory Council and six new members to the Governmental Accounting Standards Advisory Council.

December 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.