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.

Tax practice

Bankers Call for New Accounting Oversight Board

The dispute between the American Bankers Association and the Financial Accounting Standards Board heated up as ABA president Edward Yingling called for a new accounting oversight board that would hold sway over FASB.

October 22
Audit

Auditors Not Familiar with New Data Tags

More than half of internal auditors say they are not familiar with new technology that provides interactive data tags for financial statements, according to a new survey.

October 22
Audit

Greenspan Tries to Account for Economic Crisis

Former Federal Reserve Chairman Alan Greenspan tried to explain his version of the reasons for the global economic crisis to a congressional panel, while expressing shock and disbelief that the problems had spread so far.

October 22
Regulatory actions and programs

CFOs Want to Use International Standards

Fifty-five percent of the 688 CFOs and senior controllers surveyed by Grant Thornton said U.S. companies should be permitted to use International Financial Reporting Standards instead of U.S. generally accepted accounting principles.

October 21
Audit

NYSSCPA to Hold Auditing Conference

The New York State Society of CPAs and its Foundation for Accounting Education plan to hold an auditing conference on Oct. 27.

October 21
Recruiting

AICPA Addresses Economic Crisis

Barry Melancon, president and chief executive of the American Institute of CPAs, opened his annual remarks regarding the state of the profession at the Fall Meeting of Council and Members by addressing the current economic crisis and the controversy around fair value accounting.

October 21
Regulatory actions and programs

Companies Unprepared for International Standards

Nearly half of U.S. companies have made no preparation to adopt International Financial Reporting Standards, according to a new survey.

October 20

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.