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

FASB Proposes Standard on Hedge Accounting

The Financial Accounting Standards Board issued an exposure draft of a proposed standard on accounting for hedging activities.

June 8
Accounting standards

FEI Forms IFRS Unit

Financial Executives International, a 15,000-member group of CFOs and senior-level financial executives, has formed the Corporate Roundtable on International Financial Reporting, a forum where companies can address issues related to implementing International Financial Reporting Standards.

June 5
Accounting standards

Guidance on Monitoring Internal Controls

The Committee of Sponsoring Organizations of the Treadway Commission has released an exposure draft document offering guidance on monitoring internal control systems.

June 5
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FASB Proposes Expanding Disclosures of Loss Contingencies

The Financial Accounting Standards Board has issued an exposure draft of a proposed standard for expanding the required disclosures of certain loss contingencies.

June 5
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Panel to Assess Fair Value of Financial Instruments

The International Accounting Standards Board has formed an advisory panel to deal with the controversial topic of determining the value of financial instruments in inactive markets.

June 5
Associations

AICPA Adopts Ethics Standard on Indemnification

The American Institute of CPAs has issued a new standard that tightens ethics requirements for members on indemnification and limitation of liability.

June 4
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Accountant Independence Requirements Beefed Up

An international accounting standard-setter has issued a revised set of proposals designed to strengthen the independence requirements for accountants.

June 3

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.