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

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 ...

The SEC proposed amendments to the rules that define which companies and advisers qualify as small entities for purposes of the Regulatory Flexibility Act. Susan S. Coffey, CEO–Public Accounting at ...

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 ...

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 ...