Discover the key differences between compiled and certified financial statements, including auditing, reliability, and ...

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

Discover how Statements of Financial Accounting Standards (SFAS) guide U.S. accounting principles. Learn about their impact and why they've been replaced.

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

A company may set its competitive sights high to make money and make more of it over time, but it must heed its accounting cycle to ensure personnel follow stipulations top leadership has established.

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

Credit losses represent a significant area of focus in financial statement audits. As economic conditions fluctuate and accounting standards evolve, auditors face increasing challenges in evaluating ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

Meghan Gallagher is a Seattle-based freelance content writer and strategist. She has a B.S. in Marketing Management and a background in digital marketing for healthcare, nonprofit, and higher ...