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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FASB to Tackle Fair Value Disclosures for Private Companies and Nonprofits

The Financial Accounting Standards Board has added a new project to its agenda aimed at reducing or eliminating the need for private companies and not-for-profit organizations to provide as many fair value measurement disclosures as public companies.

November 30
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IASB and IFAC Plan Greater Cooperation

The International Accounting Standards Board and the International Federation of Accountants agreed Tuesday to strengthen their cooperation on developing accounting standards for both the private and public sectors.

November 22
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FASB, IASB Revise Revenue Recognition Proposal

The Financial Accounting Standards Board and the International Accounting Standards Board published revised proposals Monday for revenue recognition as part of their continuing efforts at convergence.

November 14
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IFAC Updates Audit Guide for Small and Midsized Entities

The International Federation of Accountants’ Small and Medium Practices Committee has released the third edition of its Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities.

November 11
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FASB Adds Nonprofit Projects to Agenda

The Financial Accounting Standards Board has added two new projects to its agenda aimed at improving financial reporting by not-for-profit organizations.

November 9
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FASB Rethinks Changes in Presenting Other Comprehensive Income

The Financial Accounting Standards Board is proposing to defer some of the changes it required earlier this year in the presentation of other comprehensive income on financial statements after hearing objections from various quarters.

November 8
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AICPA Issues Goodwill Impairment Testing Guidance

The American Institute of CPAs’ Financial Reporting Executive Committee has published a working draft of a new AICPA Accounting and Valuation Guide, “Testing Goodwill for Impairment.”

November 4

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Trusted Advisor 2.0

By Daniel Hood

September 28
Beyond the Buzz: Moving from AI Hype to Meaningful Impact

Weaving AI into client records, workflows, documents, and billing allows accounting firms increase to by offering client accounting services. Learn why an integrated platform outperforms standalone accounting solutions.

Partner Insights from Canopy
Beyond Research: Unlocking Hidden Value from AI

Generative AI adoption among accounting firms doubled in just one year. But many firms are barely scratching the surface, using AI primarily for tax research rather than to reimagine workflows

Partner Insights from Thomson Reuters

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.