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.

Audit

New Board Will Monitor International Accounting

A new board that includes the Securities and Exchange Commission and other regulatory bodies will now oversee the trustees who oversee the International Accounting Standards Board.

February 2
Regulatory actions and programs

SEC Finalizes XBRL Requirements

The Securities and Exchange Commission has posted the final version of its rule mandating Extensible Business Reporting Language for public companies.

February 2
Audit

FASB Wants More Fair Value Disclosures

The Financial Accounting Standards Board has issued a proposed standard that would require disclosures about the fair value of financial instruments in interim financial statements as well as annual statements.

February 2
Audit

FASB Plans to Clarify CDOs

The Financial Accounting Standards Board wants to bring more clarity to some of the complex credit derivatives that contributed to the financial crisis.

February 2
Regulatory actions and programs

New York Governor Signs CPA Legislation

New York Governor David Paterson has signed a bill expanding the regulation of CPAs throughout the state.

January 30
Audit

PCAOB Offers Guidance on Auditing Small Companies

The Public Company Accounting Oversight Board has published guidance to help auditors apply Auditing Standard No. 5 to audits of internal controls at smaller public companies.

January 29
Finance

Geithner Aims to Increase TARP Transparency

Newly approved Treasury Secretary Timothy Geithner moved to provide more transparency in the controversial Troubled Assets Relief Program by posting investment contracts on the Internet.

January 29

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.