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.

Regulatory actions and programs

Monster Ex-CEO Settles Backdating Charges

Andrew McKelvey, the former CEO of job listing provider Monster Worldwide, has agreed to pay $275,989.72 to the Securities and Exchange Commission to settle charges of stock options backdating.

January 24
Audit

FASB Reorganizes GAAP Codification

The Financial Accounting Standards Board began testing a codification of U.S. generally accepted accounting principles that reorganizes thousands of U.S. GAAP pronouncements to make them easier to find.

January 17
Audit

Edgar Online Brings SEC Data to MSN Money

Edgar Online and Microsoft announced a deal under which Edgar Online will provide financial filings from the Securities and Exchange Commission's Edgar database and other content to Microsoft's MSN Money, while Microsoft will provide advertising around Edgar Online's content.

January 17
Audit

Heads of Major Accounting Firms Push Convergence

The chief executives of the six largest accounting firms pushed for global convergence of accounting standards, better audit quality and principles-based accounting standards at a symposium.

January 16
Audit

Taking a Fresh Look at Judgment

The Securities and Exchange Commission may be moving toward greater acceptance of the professional judgment of accountants in interpreting financial standards, and that can’t happen soon enough.

January 16
Audit

SEC Committee Promotes Reasonable Judgment

A key outside advisory committee wants the Securities and Exchange Commission to be more open to accepting an accountant's judgment in interpreting standards.

January 15
Audit

Report Estimates New Costs of SOX Compliance

A new report finds the cost of compliance with Sarbanes-Oxley Section 404 internal control audit requirements for smaller public companies is actually about 14 percent lower than the Securities and Exchange Commission's original estimates.

January 14

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.