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.

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
Audit

International Accounting Group Appeals to Bush

The International Accounting Standards Committee Foundation has written a letter to President Bush asking him and other world leaders to respect fair value accounting and the standards-setting process.

November 12
Financial reporting

AICPA Backs FASB on Mark-to-Market Study

The American Institute of CPAs has written to the Securities and Exchange Commission urging it to allow the Financial Accounting Standards Board to continue to set standards for mark-to-market accounting.

November 12
Tax practice

Obama Searches for New SEC Chairman

President-elect Barack Obama is looking for a new chairman of the Securities and Exchange Commission to replace departing chair Christopher Cox.

November 10
Audit

SEC May Finally Publish IFRS Roadmap

The Securities and Exchange Commission is expected to publish the long-delayed roadmap for transitioning to International Financial Reporting Standards on Friday.

November 7

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.