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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The spirit of accounting: Convertible debt: Progress at a glacial rate

Page 330 of our 2002 book, Quality Financial Reporting, includes this comment: "No one should accuse accountants of being glacial; after all, glaciers move."Contrary to our jab, the accounting glacier did actually move in May 2008 when FASB issued Staff Position APB 14-1, ponderously titled Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement). This FSP is something of a sleeper because no one's said much about it, even though it kicked in for fiscal years and first quarters beginning after Dec. 15, 2008.

February 23
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Survey Favors IFRS Adoption

As the debate over adoption of International Financial Reporting Standards heats up in the U.S., KPMG has released a survey indicating support for IFRS among investors, analysts and corporate executives who prepare financial statements.

February 23
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NASBA Wants SEC to Withdraw IFRS Roadmap

The National Association of State Boards of Accountancy is urging the Securities and Exchange Commission to withdraw its proposed roadmap for transitioning to International Financial Reporting Standards.

February 20
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PCAOB Starts Registering Broker-Dealer Auditors

The Public Company Accounting Oversight Board has issued guidance on the recent requirement for registration of auditors of privately held broker-dealers.

February 20
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Gillan Named Senior Advisor at SEC

The Securities and Exchange Commission has appointed former Public Company Accounting Oversight Board member Kayla Gillan as senior advisor to new Securities and Exchange Commission Chair Mary Schapiro, effective immediately.

February 19
Accounting standards

Businesses Not Ready for Government Investigations

Approximately 80 percent of companies are not ready for government or regulatory investigations, according to a new survey.

February 17
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FASB Initiates Fair Value Projects

The Financial Accounting Standards Board has added a pair of agenda projects aimed at improving the application guidance used to determine fair values and disclosure of fair value estimates.

February 17

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.