Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...

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 ...

In March, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to help stabilize the U.S. economy in the wake of COVID-19. Included in the Act, and little noticed by the ...

Generally Accepted Accounting Principles and Governmental Auditing Standards differ and cover different aspects of the financial reporting process. GAAP defines how businesses, both public and private ...

The Financial Accounting Standards Board, FASB, is a private, independent organization that since 1973 has been given the authority by the U.S. Securities and Exchange Commission, or SEC, to establish ...

Nearly four years after dropping a years–long project that would have changed goodwill accounting, the FASB is wrestling with ...

Discover the role, history, and standards set by the Canadian Institute of Chartered Accountants, supporting accounting professionals nationwide and internationally.

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 ...

Members of Congress have recently introduced bipartisan legislation to delay the implementation of a new accounting standard that will require many banks to more carefully calculate, and report in ...

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 ...

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 ...