Accounting standards blamed for lack of accountants
Accounting Today
FEBRUARY 23, 2024
It's not just the 150-hour rule for obtaining a CPA license that may be the culprit for the talent shortage, according to an academic study.
Accounting Standards Update 2023-08: FASB’s New Crypto Accounting Guidance
Withum
DECEMBER 14, 2023
On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. Contact Us The post Accounting Standards Update 2023-08: FASB’s New Crypto Accounting Guidance appeared first on Withum.
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RSM announces $1B agentic AI investment
Accounting Today
JUNE 10, 2025
By Chris Gaetano 9h ago Accounting AICPA, NASBA recognize top CPA exam performers Eleven accountants were given the Elijah Watt Sells Award, granted to those who earn a cumulative average score above 95.50 All rights reserved. across four sections of the exam.
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103 Webinars
Doing More With Less: The Modern Finance Miracle
The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It
Protect What Matters: Rethinking Finance Ops In A Digital World
Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future
Your Accounting Expertise Will Only Get You So Far: What Really Matters
No Escape: How to Live with the New Lease Accounting Standards
CPA Practice
JUNE 28, 2023
By Emily Fish, director of product accounting at LeaseQuery Within the lease accounting standards, there are exceptions to help entities determine which leases are in scope and which are not. First and foremost, the lease accounting standards apply to all entities—there isn’t an exception for an entity or industry as a whole.
Measuring Fair Value for Financial Reporting Purposes
RogerRossmeisl
APRIL 10, 2023
Generally Accepted Accounting Principles (GAAP), fair value is “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” This definition is found in Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement.
Accounting is changing, and the world can't wait until 2026
Accounting Today
JUNE 6, 2025
Accounting Accounting firm services Accounting education International accounting Career planning MORE FROM ACCOUNTING TODAY Technology XcelLabs launches to help accountants use AI Jody Padar and Katie Tolin debuted a training and technology platform, in partnership with the Pennsylvania Institute of CPAs and CPA Crossings.
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FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard
CPA Practice
FEBRUARY 1, 2023
As expected, the Financial Accounting Standard Board (FASB) voted on Wednesday to issue an exposure draft of a new accounting standard that would require companies to measure cryptocurrency assets, like Bitcoin and Ethereum, using fair value accounting, with gains and losses recorded in current period comprehensive income.
Changes to Lease Accounting Rules (ASC 842)
SMBAccountant
JANUARY 4, 2023
Sources: Lease Query: Five Tips for Small Business Lease Accounting CPA Hall Talk: How to Understand the New Lease Accounting Standard HWA Alliance of CPA Firms, Inc.:
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State CPA Society News and Updates – Oct. 2024
CPA Practice
OCTOBER 18, 2024
State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Florida Institute of Certified Public Accountants (FICPA) recently announcedJim Gurowka, CAE, as its new Chief Growth Officer (CGO), effective Sept.
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Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council
CPA Practice
MAY 1, 2024
The Board of Trustees of the Financial Accounting Foundation ( FAF ) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council ( FASAC ) for an initial one-year term beginning January 1, 2025. The FASAC is the primary advisory body to the Financial Accounting Standards Board ( FASB ).
FASB Seeks Comments on Proposal to Clarify Guidance on Identifying the Accounting Acquirer in Business Combinations
CPA Practice
OCTOBER 31, 2024
The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) intended to improve the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification Topic 805, Business Combinations.
AICPA Recognizes Top 2022 CPA Exam Performers with Elijah Watt Sells Award
CPA Practice
MAY 18, 2023
The American Institute of CPAs has announced the 50 winners of the 2022 Elijah Watt Sells Award. This award is granted to CPA candidates who obtain a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, pass all four sections on their first attempt and have completed testing in 2022.
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Mastering SaaS Bookkeeping: Essential Considerations for Success
Shay CPA
MAY 21, 2025
Bookkeepers must carefully document and classify these costs to ensure compliance with accounting standards. By leveraging the right tools, adhering to accounting standards, and focusing on key metrics, bookkeepers can provide the financial clarity and insights SaaS companies need to succeed.
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FASB Looks to Add New Rules on Accounting For Government Grants by Businesses
CPA Practice
NOVEMBER 19, 2024
A new proposal that would establish authoritative guidance on the accounting for government grants received by businesses was issued by the Financial Accounting Standards Board (FASB) on Nov.
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Boomer's Blueprint: 4 ways algorithms can improve your firm
Accounting Today
JUNE 9, 2025
Gary Boomer June 9, 2025 10:00 AM Facebook Twitter LinkedIn Email As CPA firms grow into the $10 million to $100 million revenue range, operational complexity increases, especially during peak periods like tax season. Transforming tax practices with algorithms jd-photodesign - stock.adobe.com Tax season places immense pressure on CPA firms.
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Instead adds AI-driven tax reports
Accounting Today
JUNE 9, 2025
By Danielle Lee 8h ago Practice management Accountants expect firms to shrink headcount by 20% Fifty-two percent of accountants expect their firms to shrink in headcount by 20% in the next five years, according to a report by the Indiana CPA Society. All rights reserved. By Paige Hagy June 6 Like what you see?
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XcelLabs launches to help accountants use AI
Accounting Today
JUNE 6, 2025
EDT 1 Min Read Facebook Twitter LinkedIn Email Jody Padar, an author and speaker known as "The Radical CPA," and Katie Tolin, a growth strategist for CPAs, together launched a training and technology platform called XcelLabs. XcelLabs provides solutions to help accountants use artificial technology fluently and strategically.
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IASB Seeks Input for Review of Accounting Standard on Revenue
CPA Practice
JUNE 30, 2023
The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018. A PIR of an Accounting Standard does not automatically lead to standard-setting.
Review of TimeCredit AI – The Accounting Technology Lab Podcast – Oct. 2024
CPA Practice
OCTOBER 18, 2024
Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Tankersley, CPA.CITP, CGMA 00:00 Randy, welcome to the accounting Technology Lab sponsored by CPA practice advisor. So you just take the contracts and you drop again, Excel doc or CSV into it.
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FASB Issues Post-Implementation Review Report for Its Revenue Recognition Standard
CPA Practice
NOVEMBER 25, 2024
The Financial Accounting Standards Board (FASB) has issued the report on Post-Implementation Review: Revenue from Contracts with Customers (Topic 606).
Two-thirds of clients ready to change auditors
Accounting Today
JUNE 9, 2025
By Danielle Lee 8h ago Practice management Accountants expect firms to shrink headcount by 20% Fifty-two percent of accountants expect their firms to shrink in headcount by 20% in the next five years, according to a report by the Indiana CPA Society. All rights reserved. By Paige Hagy June 6 Like what you see?
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GASB Issues Guidance on Disclosure of Certain Capital Assets
CPA Practice
OCTOBER 17, 2024
The Governmental Accounting Standards Board ( GASB ) has issued guidance that establishes requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures. GASB Statement No.
On the move: HCVT hired CAS co-leader
Accounting Today
JUNE 6, 2025
CALIFORNIA Janet Shepard Janet Shepard was hired as a business management partner and co-leader of the client accounting services practice at HCVT, Irvine. All rights reserved.
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SMBs May Get More Time To Adopt New Accounting Standards
PYMNTS
JUNE 24, 2019
Financial regulators are considering allowing smaller businesses (SMBs) more time to comply with sweeping changes in lease accounting standards, which experts have said will place a significant burden as organizations work to comply with the requirements. We’ll ask you for input on this as well.”
Optimism declines among accountants
Accounting Today
JUNE 11, 2025
accountants who advise small and midsized businesses are feeling less confident this year, according to a new survey. Between January and April, the net sentiment among accountants swung from a positive 19% to a negative 39%. Accountants are sounding an urgent alarm," said CPA Trendlines founder Rick Telberg in a statement Wednesday.
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Elliott Davis takes PE investment
Accounting Today
JUNE 11, 2025
As is common among many accounting firms taking PE capital, Elliott Davis will operate in an alternative practice structure. Elliott Davis, a licensed CPA firm, will continue to provide attest services. Flexpoint had evaluated other CPA firm platforms but with Elliott Davis it was love at first sight. All rights reserved.
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Banks, Businesses Brace For Far-Reaching Accounting Standard Changes
PYMNTS
OCTOBER 9, 2018
Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.
Monday Morning Accounting News Brief: The Age of the Non-CPA; PwC Explains the Chevron Thing | 7.29.24
Going Concern
JULY 29, 2024
India Today explains why US firms love hiring accountants in India : Consequently, American firms are increasingly turning to other countries to fill the gap, particularly eyeing India for its highly skilled accounting professionals. As a result, last year’s data shows more IPA 100 firms were increasing the hiring of talented non-CPAs.
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Monday Morning Accounting News Brief: EY Wants to Buy; Losers Dump NFTs For Tax Purposes; CPA Demand in 2031 | 1.9.23
Going Concern
JANUARY 9, 2023
A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.
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How to Use ChatGPT to Create Forms and Templates for Accounting Firms
CPA Practice
JUNE 24, 2024
I asked ChatGPT what forms it recommended for a CPA firm. Here is the answer I got (since ChatGPT is nondeterministic, you won’t get the exact same answer I got.): For a CPA (Certified Public Accountant) firm, creating and utilizing various forms and templates can significantly streamline practice management tasks.
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FASB Adds Standard on Income Statement Expenses
CPA Practice
NOVEMBER 4, 2024
A new standard requiring public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements was finalized by the Financial Accounting Standards Board (FASB) on Nov.
GASB Proposes Guidance on Subsequent Events
CPA Practice
NOVEMBER 25, 2024
The Governmental Accounting Standards Board (GASB) issued two exposure drafts on Monday: one on a proposed standard on subsequent events and the other a proposed update to an implementation guide in the form of questions and answers intended to clarify, explain, or elaborate on certain GASB pronouncements. 21, 2025.
Remaking the partnership model for young accountants
Accounting Today
JUNE 9, 2025
To start, ownership in a CPA firm is more expensive today than it ever has been. Heres what I mean: If you take the time to forecast the next 10 years of public accounting supply (i.e., credentialed CPAs in America) and demand (i.e., All rights reserved. Heres a crash course. What is happening to the partnership model?
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Financial Accounting Standards Advisory Council Meeting Recap
CPA Practice
MARCH 31, 2023
The Financial Accounting Standards Advisory Council ( FASAC ) held its quarterly meeting on Tuesday, March 7, 2023. The FASB chair provided highlights on FASB activities, and the SEC and PCAOB staff members commented on current issues and activities. Council members discussed the following topics.
U.S. and Japan Accounting Standard Setters Hold Biannual Meeting
CPA Practice
APRIL 18, 2023
Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) held a meeting on April 17 in Norwalk, CT. The FASB and the ASBJ plan to continue to exchange views. The next meeting is planned in the second half of 2023 in Tokyo.
Baldwin Appointed to Governmental Accounting Standards Advisory Council
CPA Practice
MARCH 18, 2025
Baldwin currently serves as the executive director of the Council of Internal Auditing for the State Budget and Management Office of the state of North Carolina.
Friday Footnotes: CPA Exam Scares Accounting Majors Away; EY Loses Fees in China | 5.12.23
Going Concern
MAY 12, 2023
Fired: job search or CPA exam? by u/OrganicAd5804 in Accounting Big 4 PwC scandal will be referred to national anti-corruption watchdog [ The Age ] On Thursday, Treasury confirmed that it was deciding whether to refer the matter to the Australian Federal Police in light of damning evidence of misconduct that was made public last week.
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IASB Seeks Input for Review of Accounting Standard on Revenue
CPA Practice
JUNE 29, 2023
The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018. A PIR of an Accounting Standard does not automatically lead to standard-setting.
FAF Opens Up Unfettered Online Access to FASB, GASB Accounting Standards
CPA Practice
FEBRUARY 28, 2023
The Financial Accounting Foundation (FAF) has launched its free, enhanced online access to the Accounting Standards Codification and the Governmental Accounting Research System (GARS), implementing a change announced last month. governmental entities.
Preparing for Your First Financial Audit: A Checklist for Startups
Shay CPA
FEBRUARY 19, 2025
Accrual accounting can be somewhat complicated, especially for software as a service (SaaS) companies, so we have a guide to help you better understand it. Theres another similar component of GAAP thats relatively new and applies to many startups: lease accounting. As of 2022, all U.S. And this isnt just an audit-specific to-do.
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Bookkeeping Basics for SaaS Companies: Managing Revenue Recognition
Shay CPA
FEBRUARY 12, 2025
Because of the Financial Accounting Standards Boards (FASBs) Accounting Standards Codification (ASC) 606 , its mandated that companies use whats called revenue recognition. We specialize in accounting for tech companies, so this is well within our wheelhouse.
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M&A roundup: Plante Moran, Sax and GHJ expand
Accounting Today
JUNE 10, 2025
In 2023, Sax merged in Schall & Ashenfarb CPAs , a firm based in New York. In 2022, Sax acquired David Weiss CPA , also in New York. a firm that specializes in profit participation and entertainment accounting and is also based in Los Angeles. All rights reserved. across four sections of the exam.
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Carbon Accountants: What They Do and Why They Matter
CPA Practice
OCTOBER 27, 2023
But really, Billy Scherba, CPA, is a carbon accountant. Billy Scherba Carbon accountants help companies understand what data matters to their carbon footprint, how to collect that data in a consistent manner, and how to use it to calculate the greenhouse-gas emissions they’re responsible for.
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FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard
CPA Practice
FEBRUARY 3, 2023
As expected, the Financial Accounting Standard Board (FASB) voted on Wednesday to issue an exposure draft of a new accounting standard that would require companies to measure cryptocurrency assets, like Bitcoin and Ethereum, using fair value accounting, with gains and losses recorded in current period comprehensive income.
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