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

Glass Lewis: Option Probes Cause for Late Filings

The widening options-timing scandal contributed mightily to a record-setting number of large U.S. corporations filing late financial reports for the second quarter, according to a study from market research firm Glass Lewis & Co.

August 24
Tax planning

Trio Objects to Joint Private Company Initiative

A trio of state accounting boards have objected to the 'jointness' of a joint project from the Financial Accounting Standards Board and the American Institute of CPAs to form a committee to look at the financial accounting and reporting standard-setting process for private companies.

August 24
Audit

Push Really Opens The Door

One of the aspects of the Internet that many I and many others love is its interactive nature. Using a news search engine's push technology, news summaries on accounting firms are sent to me daily.

August 21
Regulatory actions and programs

IFAC Updates IT Guidance

The International Federation of Accountants' education standards board has proposed new guidance outlining the skills accountants need to perform competently in a variety of information technology roles.

August 21
Career moves

Report: SEC Says Enforcement Firm in Face of Cuts

The Securities and Exchange Commission has released some enforcement statistics through July -- 10 month's into the agency's 2006 fiscal year.

August 21
Tax practice

Regs Issued for Capitalization of Tangible Assets

The Treasury Department and the Internal Revenue Service have issued proposed regulations clarifying the treatment of expenditures incurred in selling, acquiring, producing or improving tangible assets.

August 21
Accounting standards

Hewitt named to SEC

After filling the top slot at the Public Company Accounting Oversight Board by naming Mark W. Olson as chairman in June, Securities and Exchange Commission chair Christopher Cox filled another gaping vacancy in July - the position of SEC chief accountant.Late last month, Cox named former Ernst & Young partner and California banking regulator Conrad W. Hewitt as the nation's top accountant, a post that had been empty for nearly 10 months since the departure of Don Nicholaisen.

August 20

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.