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

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

Accounting and financial professionals must abide by ethical standards that regulate what kind of business they conduct, who they serve and how they use their skills. Ethical standards are determined ...

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 ...

Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

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 ...

Making the most efficient use of your resources is critical to the success of any company. Finance and accounting comprise the universal business language and help you manage those resources ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

Knowing GAAP will help you understand your accountant's decision-making process better. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...