Discover the key differences between IFRS and GAAP accounting standards, and learn how they impact financial reporting for ...

Countries and jurisdictions throughout the world mandate that entity financial statements be prepared using International Financial Reporting Standards, and that audits be conducted in accordance with ...

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 ...

For the black-and-white reputation that accounting has, the profession allows transactions to be accounted for in many different ways. The preferred method of accounting for a transaction depends on ...

How do you improve the quality of financial reporting in countries switching from a planned to a market economy? Conventional wisdom suggests these countries should simply adopt high-quality ...

Accounting is a powerful word. Investorwords.com defines it as "The systematic recording, reporting and analysis of (the) financial transactions of a business." The two organizations that regulate ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. As a result of Covid-19 and the changing landscape related to leases, private companies have ...

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...