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 Proposes Mutual Fund Disclosures in XBRL

A week after proposing requirements for public companies to start filing their financial statements with interactive data tags, the Securities and Exchange Commission wants mutual fund companies to begin filing risk and return information using the technology.

May 21
Audit

Financial Accounting Foundation Names New President

The Financial Accounting Foundation has tapped Teresa S. Polley as its new president and chief operating officer.

May 21
Audit

SEC Boosts Small Business Financing

The Securities and Exchange Commission has broadened financing opportunities for small businesses by adopting a rule amendment under the Investment Company Act.

May 21
Accounting standards

AICPA Clarifies Audit Standards

The American Institute of CPAs outlined plans to simplify the plethora of auditing standards and eliminate any that had no clear objective.

May 20
Regulatory actions and programs

SEC Charges Eight Former AOL Execs

The Securities and Exchange Commission has filed civil fraud charges against eight former executives of AOL Time Warner, blaming them for causing the company to overstate advertising revenue by more than $1 billion via round-trip accounting transactions.

May 20
Accounting standards

Could Convergence Lead to Litigation?

With accounting standards moving toward convergence around the world, some accounting firms are beginning to worry that the adoption of International Financial Reporting Standards could lead to litigation.

May 20
Associations

AICPA Votes for IASB as Standards-Setter

The American Institute of CPAs passed a resolution at its Spring Council meeting voting to recognize the International Accounting Standards Board in London as the international accounting and financial reporting standards-setter.

May 19

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.