Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

Financial accounting principles shape the recording of nearly every business transaction in the business world. The creation of these principles is no small task and can sometimes seem nearly ...

Like others, we've watched a slowly developing controversy over the question of whether accounting standards should be "principles-based" or "rules-based." When Sarbanes-Oxley was passed, it required ...

If you're the type of small-business owner who prefers to spend your time cooking food or making pottery to working, you may resent the time and effort you have to put into accounting. However, ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...

Discover how the Accounting Principles Board (APB) set foundational accounting standards and influenced today's GAAP under the FASB in the financial reporting world.

The International Federation of Accountants has released a set of principles with the goal of widening access to the accounting profession. Opening Doors: Six Principles of Best Practice to Increase ...

Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...