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

The spirit of accounting: Measurement, theory, market values and AAATUC

One (and possibly the only) positive result of the financial crisis is that market value accounting has been brought to the public's attention.Unfortunately, most discussions of this issue have generated much more heat than light. For instance, we've noted that many who criticize value-based accounting don't begin to understand its advantages over other asset and liability measures. We want to explain the theory behind it, which is how we came to be convinced that all the trouble of switching to values will be worthwhile. This perspective has helped us see that most criticisms of market value are transparent attempts to deflect blame away from managers who made poor investment decisions.

November 17
Recruiting

Accounting schools retooling for IFRS

Accounting schools are scrambling to stay ahead of the IFRS curve.

November 17
Regulatory actions and programs

Private Company Committee Debates Standards

The Private Company Financial Reporting Committee discussed FIN 48, fair value and other matters at its latest meeting.

November 17
Tax practice

Accounting Body Offers Advice to World Leaders

The Financial Accounting Foundation advised President Bush and other U.S. and world leaders attending the G-20 summit to safeguard fair value accounting and the independent standard-setting process in a strongly worded letter.

November 17
Accounting standards

Blue Coat CFO Settles Backdating Charges for $185,000

The Securities and Exchange Commission charged network security company Blue Coat Systems and its former CFO, Robert P. Verheecke, with allegedly backdating stock option grants and reporting false financial information, and he has settled the charges for $185,000.

November 17
Audit

CAQ Tells SEC to Protect Fair Value

The Center for Audit Quality defended the use of fair value accounting in a letter to the Securities and Exchange Commission as the standard comes under attack from banking interests.

November 14
Audit

Pressured IASB Chairman Considered Resigning

International Accounting Standards Board Chairman Sir David Tweedie said he nearly resigned before giving in to pressure from European regulators to modify fair value accounting standards to allow banks to reclassify their assets.

November 13

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.