For decades, U.S. accounting professionals navigating the formation of a joint venture (JV) have operated in a regulatory gray area. Without explicit, targeted guidance from the Financial Accounting Standards Board (FASB) on how a newly formed JV should initially measure its net assets, practitioners were left to interpret and analogize. This lack of prescriptive direction ...

For decades, the true cost of America’s aging infrastructure has been hidden in plain sight. Beneath the asphalt of potholed city streets and within the rusting valves of century-old municipal water systems lies a staggering, multi-trillion-dollar liability of deferred maintenance. Historically, government financial statements have struggled to capture the looming financial ...

As the U.S. economy marches into the second quarter of 2026, a fascinating dichotomy is emerging across the corporate landscape. In the C-suite, economic anxiety is thawing, replaced by a renewed sense of confidence in market stability and growth. Yet, down the hall in the tax and accounting departments, professionals are bracing for a wave of complex regulatory updates, ...

For the past five years, the United States accounting profession has operated in what feels like a financial Wild West. Driven by a desperate need for capital to fund technology upgrades, partner buyouts, and talent acquisition, private equity (PE) has poured billions into the sector. To bypass regulations restricting non-CPA ownership of audit firms, these deals have relied ...

The U.S. accounting profession is currently operating in two distinct time zones. In one, visionaries are mapping out a technologically advanced, globally integrated future for the year 2040. In the other, practitioners are battling a grueling 2026 reality defined by severe budget cuts, staffing shortages, and regulatory bottlenecks. For professionals navigating this ...

For the past several years, the U.S. accounting profession has been riding a wave of unprecedented, double-digit growth. Fueled by pandemic-era advisory demands, complex tax legislation, and a surge in outsourced accounting services, firms grew accustomed to a high-octane revenue environment. But the tide is officially pulling back, and the industry is waking up to a new, ...

For tax and accounting professionals in the United States, the gap between the enactment of legislation and the issuance of actionable regulatory guidance is often where the most intense friction occurs. As we move deeper into the 2026 tax season, practitioners are grappling with a familiar paradox: sweeping legislative updates designed to benefit businesses are being ...

Every busy season brings its own distinct flavor of chaos, but 2026 is serving up a particularly complex cocktail for U.S. accounting professionals. Practitioners are currently navigating a high-stakes convergence: sweeping new legislative mandates, an Internal Revenue Service operating under severe personnel constraints, and evolving financial reporting standards for private ...

For U.S. accounting professionals, the 2026 landscape is defined by two distinctly different clocks. On one wall hangs the regulatory clock, which occasionally pauses to grant practitioners a much-needed breather. On the other wall hangs the demographic and talent clock, which is ticking louder and faster than ever before. This dichotomy was perfectly illustrated this week as ...

For years, credentialed accounting professionals in the United States have operated in a bifurcated reality. On one side, CPAs and Enrolled Agents adhere to stringent ethical guidelines, rigorous continuing education, and strict regulatory oversight. On the other side, a shadow industry of unregulated, unenrolled tax preparers operates with virtually no federal guardrails. ...

The U.S. accounting profession is currently navigating a fascinating paradox. On one hand, the regulatory walls surrounding everyday tax preparation are threatening to close in on unregulated practitioners. On the other, the horizons for credentialed Certified Public Accountants (CPAs) are expanding faster than ever, fueled by cross-border mobility agreements and a relentless ...

For the better part of a decade, the prevailing wisdom in accounting practice management was that transparency breeds ownership. The theory was simple: if you want your staff to think like partners, you have to share the numbers like partners. Open-book management became a hallmark of progressive firm culture. But according to recent industry data, those glass walls are ...