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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Auditing Board Proposes New Strategy

The International Auditing and Assurance Standards Board released a new proposed strategy and work program for 2012-2014 on Monday.

January 3
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GASB Unites Government Guidance from FASB, AICPA

The Governmental Accounting Standards Board issued a new accounting statement Thursday aimed at incorporating accounting guidance issued by outside standard-setters that is applicable to state and local governments.

December 30
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SEC Proposes Registration of Municipal Advisors

The Securities and Exchange Commission has proposed a permanent rule requiring municipal advisors to register with the agency.

December 23
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GASB Updates Government Accounting Standards for Blended Entities

The Governmental Accounting Standards Board has issued revisions to its financial reporting entity standards to better account for business-type activities at government-run institutions such as state universities.

December 17
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Far from Perfect but at Least a Start

Several years ago when an architect we hired for anaddition to our house unfolded his blueprints on the dining room table, theundisputed general contractor on the job (my wife) assumed the sort of facialexpression one makes when their pleasant-looking blind date doesn't resembleScarlett Johansson or Cristiano Ronaldo.

By Bill Carlino
Managing Director, Consulting Services

November 21
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Materiality Loses Relevance in SSAE 16

IMGCAP(1)]As we prepare for the replacement of SAS 70 by SSAE 16, articles and vendor whitepapers are flooding the landscape.

October 13
Accounting standards

Off-balance-sheet financing: Holy Grail or holey pail?

Our column in the Feb. 11, 2008, issue addressed the pitfalls of pursuing off-balance-sheet financing. In light of the August 2010 exposure draft from the Financial Accounting Standards Board and the International Accounting Standards Board that proposes capitalizing all leases, we decided to republish it in order to help readers who might be baffled by this massive paradigm shift. In the next issue, we'll reprint a follow-up column in which we responded to criticisms from an individual who basically had no problem with operating lease accounting, to the point that he didn't even consider it as a way for management to deliberately mislead financial statement users.

October 11

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.