Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

Generally accepted accounting principles, or GAAP, essentially impact every item on a qualifying financial statement. Most companies and organizations follow GAAP when creating financial statements.

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 ...

External audits focus on whether and how well a business's financial statements adhere to generally accepted accounting principles, or GAAP. The objective of GAAP is to standardize and regulate ...

GAAP standards provide uniform financial reporting, critical for investors and auditors comparing companies. Non-GAAP results adjust GAAP figures to highlight specific financial aspects, but they ...

On December 13, 2022, the staff of the Division of Corporation Finance (the “staff”) of the Securities and Exchange Commission (the “SEC”) published seven new or revised Compliance and Disclosure ...

As more and more companies supplement traditional financial reporting with non-GAAP measures and other key performance indicators, a significant new opportunity is opening up for auditors, according ...

Most security and risk professionals can’t reliably establish a big-picture view of their cyber risk environment. Fragmented cyber risk data, siloed data streams, technical jargon and inconsistent ...

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 ...

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 ...