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.

Regulatory actions and programs

Still Converging ...

FASB chair Leslie Seidman lays out a schedule for handling the remaining projects on the convergence agenda

December 1
Financial reporting

FASB Chair Looks to New IASB Relationship

Financial Accounting Standards Board chair Leslie Seidman is planning for a multilateral way of working with the International Accounting Standards Board in the future, even as her term approaches an end next year.

December 1
Audit

FASB Proposes to Clarify Balance Sheet Offsetting Guidance

The Financial Accounting Standards Board has issued a proposed Accounting Standards Update aimed at clarifying the scope of transactions that would be subject to disclosures about offsetting of assets and liabilities on the balance sheet.

November 26
Tax practice

SEC and DOJ Release Foreign Corrupt Practices Act Guide

The Securities and Exchange Commission and the Department of Justice have released A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 120-page guide providing a detailed analysis of the U.S. Foreign Corrupt Practices Act, including the accounting provisions, and closely examining the SEC and DOJ approach to FCPA enforcement.

November 14
Audit

AICPA Exposes Clarified Review Standards

The American Institute of CPAs Accounting and Review Services Committee has issued exposure drafts of its proposed Statements on Standards for Accounting and Review Services as part of its Clarity Project and is asking for public comment on them.

November 14
Audit

Hurricane Sandy Prompts FASB to Extend Comment Period on Disclosure Framework

The Financial Accounting Standards Board is giving more time to people to comment on its proposals for clarifying financial statement disclosures as a result of Hurricane Sandy.

November 5
Audit

In Wake of Sandy, FASB Extends Comment Period; Announces Webcast

In response to the disruptions caused by Hurricane Sandy, the Financial Accounting Standards Board is extending the deadline for comment on a staff paper that outlines an approach for deciding whether and when to modify U.S. GAAP for private companies.

November 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.