When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Accounting, financial management and financial ...

The standards update fills a gap in the generally accepted accounting principles that previously left many companies turning ...

Diversity in accounting refers to differences in recording and using financial information; American businesses working with international corporations face challenges handling diversity when dealing ...

The accounting value or "book value" of your company's assets – or even the company itself – probably differs from the market value, and the difference may be significant. The distinction between the ...

Effective management accounting practices can improve decision-making in organizations, which need sound fundamentals but also speed when trying to decide which strategic paths to follow. In short, ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

One year ago Enron disclosed that it had overstated its earnings by $567 million, the Securities and Exchange Commission began its formal investigation of the company, and Andersen was subpoenaed by ...

GAAP ensures public companies report finances consistently for clear investor comparisons. GAAP adherence is mandated by the SEC, crucial for comparing financial performance. Understanding GAAP helps ...

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 ...