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.

Financial reporting

FASB may tighten rules on subprime selloffs

The Financial Accounting Standards Board may change some accounting rules to make it more difficult for banks to get subprime loans off their books.At an accounting conference held last month in New York, FASB Chairman Robert Herz said that the rules might require banks to keep loans on their books that they previously have been able to package and sell off or securitize.

June 1
Audit

Former Ernst & Young Partner Charged with Insider Trading

The Securities and Exchange Commission has charged a former Ernst & Young partner, an investment banker and her father with insider trading involving information about potential M&A transactions.

May 29
Audit

Accounting Boards Look for Advice on Future Standards

The U.S. Financial Accounting Standards Board and the International Accounting Standards Board said they are seeking public comment on two documents that are part of their joint project for developing an improved conceptual framework for future accounting standards.

May 29
Audit

European XBRL Leader Appointed

XBRL International has appointed Gilles Maguet as secretary general of XBRL Europe, giving him the job of promoting the adoption of the Extensible Business Reporting Language in Europe.

May 27
Tax practice

Free Webcast: Requirements for Securing Tax Information

Under new regulations, taxpayers must consent to the disclosure or use of their tax information by return preparers. Stiff penalties can be imposed on the preparer who makes unauthorized disclosures.

May 27
Audit

FASB Clarifies Insurance Contracts

The Financial Accounting Standards Board has issued FASB Statement No. 163, "Accounting for Financial Guarantee Insurance Contracts."

May 26
Regulatory actions and programs

Wayne R. Pinnell

Wayne R. Pinnell has been leading Haskell & White as the firm continues to expand its mergers and acquisitions practice.

May 22

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.