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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Year-End Bonus Changes Trigger Regulatory Issues

IMGCAP(1)]Inherent conflicts between regulatory restrictions on financial services companies and certain transfer pricing methods become more apparent during times of increased market volatility and can lead to regulatory problems for taxpayers.

September 8
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FASB Extends Comment Period for Contingencies Standard

The Financial Accounting Standards Board has voted to extend the comment period by an additional 30 days for its proposed standards on the disclosure of loss contingencies.

August 18
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Accounting Boards Propose New Leasing Standards

The Financial Accounting Standards Board and the International Accounting Standards Board have published their long-awaited joint proposals for overhauling the accounting standards for lease contracts.

August 17
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Get Ready for New Revenue Recognition Standards

IMGCAP(1)]The Financial Accounting Standards Board recently issued an exposure draft on revenue recognition that is expected to have a significant impact on accountants, auditors and entities alike.

August 4
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PCAOB Proposes Confirmation Audit Standard

The Public Company Accounting Oversight Board has proposed a new auditing standard covering confirmation procedures, with more of a focus on obtaining audit evidence from independent third parties.

By WebCPA Staff

July 13
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FASB Loan Proposal Would Have Major Repercussions

Fitch Ratings has issued a report on the Financial Accounting Standards Boards recently unveiled proposal requiring most financial instruments, including loans, to be measured on the balance sheet at fair value.

By WebCPA Staff

June 11
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PCAOB Provides Guidance to Firms from Outside U.S.

The Public Company Accounting Oversight Board has released updated staff guidance to help accounting firms outside the U.S. to register with the board even if their countries do not allow the PCAOB to inspect them or answer some of the questions on a PCAOB application form.

By WebCPA Staff

June 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.