As a business owner, you understand that accounting has to be accurate, but you may not know why accounting standards – the rules with acronyms such as GAAP and IFRS – are such a big deal. If you were ...

Lawmakers and business leaders have seen a need to harmonize or integrate, the accounting standards of the United States, which operates under Generally Accepted Accounting Principles (GAAP), with ...

This article explains the approach taken by the IASB and reflects on the alignment approach adopted by the board. This article will be followed with two more articles in the same series on the third ...

The new standard requiring all leases longer than 12 months to be recorded on balance sheets is now in effect for nonpublic companies with a fiscal year beginning after Dec. 15, 2021. To implement the ...

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 ...

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

The Financial Accounting Standards Board's new accounting rules for cryptocurrencies will go into effect on Monday, making it easier for businesses to account for the value of their holdings on their ...

The International Accounting Standards Board proposed amendments to its income tax standard to provide temporary relief from accounting for deferred taxes arising from the imminent implementation of ...

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 ...