Explore the major differences between IFRS and U.S. GAAP, including inventory write-downs, intangible assets, and accounting ...

The Cost Accounting Standards Board, a group set up by Congress in 1970 to make sure federal contractors charge their costs appropriately, is finally making some progress in aligning its 19 cost ...

Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording ...

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 ...

OLDWICK, N.J.--(BUSINESS WIRE)--New financial reporting rules for long-duration contracts will increase transparency to investors and other users of GAAP financial statements, although the complexity ...

GAAP, which stands for generally accepted accounting principles, is the set of accounting standards followed by most U.S. businesses, not-for-profit organizations, and state and local governments, as ...

A new Accounting Standards Update establishes previously missing GAAP guidance related to the recognition, measurement, and ...

Past attempts to develop standards for financial reporting, whether in the form of the ARB, the Accounting Principles Board, or the more recent Financial Accounting Standards Board, took place in an ...

KraftCPAs Member Tracy Thomas writes that we should soon have a decision from the Financial Accounting Foundation on a recommendation by a blue-ribbon panel to develop a set of accounting standards ...

When a company or individual makes an investment, the obvious goal is for that investment to increase in value over time. However, until the investment is sold, these capital gains are unrealized -- ...

WASHINGTON, DC - APRIL 27: The Internal Revenue Service headquarters building appeared to be mostly empty April 27, 2020 in the Federal Triangle section of Washington, DC. The IRS called about 10,000 ...

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 ...