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.
-
The Securities and Exchange Commission has settled accounting fraud charges with ProQuest, a company that produces databases of archived information, and its former CFO.
July 23 -
The trustees of the International Accounting Standards Committee have proposed changes in the International Accounting Standards Board that would expand the number of members, alter its geographic composition, and impose new oversight from government regulators.
July 21 -
More than 28 percent of large public companies are not fully meeting disclosure requirements for tax reserve estimates, according to a new report.
July 21 -
The Governmental Accounting Standards Board issued for comment a proposed technical bulletin to help government accountants determine the annual required contribution for post-employment benefits.
July 21 -
After a storm of protest from banking interests against the principle of booking asset values at a forced exit price for fear of a potential downward spiral in asset values, bankers in the European Union have eased their position on the fair value principle.Following a meeting held at the European Parliament Financial Services Forum here, banks are finally warming to the fair value platform with discussions on mark-to-model techniques for evaluating assets in illiquid markets.
July 20 -
Accounting for hedging activities has never been easy, but by year’s end, if a proposal from the Financial Accounting Standards Board meets approval, it might get a little simpler.FASB has proposed an amendment to Statement 133, Accounting for Derivative Instruments and Hedging Activities. The proposed statement, Accounting for Hedging Activities, issued as an exposure draft, would eliminate most of the many methods of hedge accounting. The result: financial statements that are simpler, more transparent and more comparable.
July 20 -
The Public Company Accounting Oversight Board has adopted rules requiring audit firms to submit reports at least once a year on fees, disciplinary actions and other information that will be posted on its Web site.Each of the more than 1,800 public accounting firms registered with the PCAOB must provide basic information about audit reports issued during the year and the disciplinary history of people who have joined the firm during that time. They must also report information about fees billed to audit clients in various categories of services as a percentage of the firm’s total fees billed.
July 20