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

XBRL US Gets New Chairman

XBRL US named Alfred R. Berkeley as the new chairman who will lead the board in 2008.

February 14
Regulatory actions and programs

SEC Disciplines Ex-PwC Auditor

A former PricewaterhouseCoopers auditor has settled charges with the Securities and Exchange Commission over his audits of video game developer Take-Two Interactive Software.

February 13
Audit

BDO Warns about Accounting Standards

Two accounting statements from the Financial Accounting Standards Board could have a large impact on accounting firms and their business clients, said accounting firm BDO Seidman.

February 11
Financial reporting

GASB poised to grapple with big issues in 2008

The Governmental Accounting Standards Board has a host of complex projects on the docket for 2008. The first half of the year will see a few new documents, while the second half will entail mostly discussions.

February 11
Regulatory actions and programs

SOX costs lower than SEC thought

A new report finds that the cost of compliance with Sarbanes-Oxley Section 404 internal control audit requirements for smaller public companies is actually about 14 percent lower than originally estimated.

February 11
Tax practice

IRS guidance seeks to bolster conduct, ease penalty fears

The Internal Revenue Service hopes that new interim guidance for tax preparers will ease concerns over the expanded preparer penalties and heightened standards of conduct that must be met to avoid the penalties.

February 11
Tax practice

Tax Strategy: Mortgage debt relief act generates new tax strategies

The Mortgage Forgiveness Debt Relief Act of 2007 has introduced a new paradigm of tax strategies for those who are falling behind on their home mortgage payments (or anticipate falling behind as the result of a pending adjustable rate mortgage reset).

February 11

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.