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.

Career moves

AICPA Names Accounting Standards Committee Chair

The American Institute of CPAs has appointed Jay Hanson as chairman-elect of its Accounting Standards Executive Committee.

May 13
Audit

SEC Expected to Require XBRL Filing

The Securities and Exchange Commission is expected to announced a proposed rule Wednesday mandating the filing of SEC reports in Extensible Business Reporting Language format.

May 13
Accounting standards

Speak Now and Quickly, or Forever ...

The Treasury Department's Advisory Committee on the Auditing Profession on May 5 issued a draft of its final report. It is broken down into a number of sections, each with detailed recommendations with regard to auditing and the auditing profession.

May 12
Associations

FASB Issues Its Own GAAP Hierarchy

The Financial Accounting Standards Board has issued FASB Statement No. 162, "The Hierarchy of Generally Accepted Accounting Principles," intended as a replacement for the American Institute of CPAs' GAAP hierarchy.

May 11
Audit

S&P to Hold Fair Value Accounting Forum

Standard & Poor's plans to host a forum on the merits of fair value accounting later this month.

May 8
Regulatory actions and programs

Marvell to Pay $10M for Options Backdating

The Securities and Exchange Commission has charged semiconductor maker Marvell Technology Group and its co-founder with backdating employee stock option grants.

May 8
Audit

Treasury Committee Suggests Professional Priorities

The Treasury Department's Advisory Committee on the Auditing Profession has released a draft report outlining recommendations for improving the profession.

May 7

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.