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

SEC Clarifies Accounting for Money Market Funds

The Securities and Exchange Commission issued a statement clarifying the accounting treatment for money market mutual funds amid the growing turmoil in the financial markets.

September 17
Accounting standards

SEC Charges Pasta Execs with Accounting Fraud

The Securities and Exchange Commission charged American Italian Pasta Co. and its former senior executives with participating in a fraudulent accounting scheme to artificially increase the company's stock price, and the company agreed to pay $7.5 million to settle the charges.

September 16
Audit

Oregon May Provide Model for Tax Preparer Accuracy

Tax preparers in Oregon may set a standard for future regulation of tax preparers nationwide, according to a new report from the Government Accountability Office.

September 16
Audit

FASB Proposes Financial Asset Transfer Standards

The Financial Accounting Standards Board has issued three exposure drafts of proposed financial standards and amendments relating to accounting for transfers of financial assets.

September 16
Tax practice

Turmoil in the Financial Markets

As one investment bank after another falls prey to the expanding crisis in the credit and mortgage markets, accounting regulators are trying to get a handle on the mess.

September 16
Regulatory actions and programs

AICPA Updates Audit Guide for Casinos

The American Institute of CPAs has issued a proposed update to its audit guide for the gambling industry that takes into account some recent issues faced by casinos.

September 14
Audit

FASB Issues Position on Credit Derivatives

The Financial Accounting Standards Board has issued a staff position aimed at improving disclosures about credit derivatives.

September 14

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.