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.

Accounting standards

SEC Settles with Execs of Vision Care Provider

The Securities and Exchange Commission settled charges of accounting violations by two former executives at First American Health Concepts Inc., a marketer of vision care plans.

August 18
Regulatory actions and programs

SEC Delivers Violation Notice to Goodyear

The Securities and Exchange Commission has told Goodyear Tire & Rubber Co. that it will likely recommend enforcement action for accounting errors originally disclosed two years ago.

August 16
Regulatory actions and programs

AICPA, NASBA Ask for Comment on UAA Draft

The Uniform Accountancy Act committees of the American Institute of CPAs and the National Association of State Boards of Accountancy issued an exposure draft of updated rules governing the profession.

August 16
Audit

SEC to Hold Small Business Capital Formation Forum

The Securities and Exchange Commission's annual Small Business Capital Formation Forum will be held in conjunction with a meeting of the commission's advisory committee on smaller public companies, Sept. 19 and 20 in San Francisco.

August 15
Audit

FASB Issues Exposure Drafts on Financial Assets

The Financial Accounting Standards Board issued a revised exposure draft, titled, "Accounting for Transfers of Financial Assets."

August 14
Audit

Krispy Kreme to Restate $25M in Income

An independent committee has finished its report into accounting practices at Krispy Kreme Doughnuts Inc., and the country's second-largest doughnut chain has announced plans to reduce past income statements by more than $25 million.

August 10
Regulatory actions and programs

WorldCom's Yates, Myers Receive Jail Time

WorldCom's former director of accounting Buford "Buddy" Yates and controller David Myers were each sentenced to a year and a day in prison on Tuesday and Wednesday, respectively, for their roles in the company's $11 billion accounting fraud.

August 10

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.