For the black-and-white reputation that accounting has, the profession allows transactions to be accounted for in many different ways. The preferred method of accounting for a transaction depends on ...

Accounting is a powerful word. Investorwords.com defines it as "The systematic recording, reporting and analysis of (the) financial transactions of a business." The two organizations that regulate ...

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

Learn the essential components and how-to of an accounting manual, a vital resource containing your business's accounting ...

The changes in revenue recognition rules by the Financial Accounting Standards Board (FASB) were seen by most in light of what it might mean to Apple earnings, as it would no longer have to delay ...

Like others, we've watched a slowly developing controversy over the question of whether accounting standards should be "principles-based" or "rules-based." When Sarbanes-Oxley was passed, it required ...

New accounting rules published Tuesday by FASB establish whether and at what threshold an acquired business or not-for-profit organization can apply pushdown accounting. Pushdown accounting occurs in ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The introduction of the euro and the adoption of International Financial Reporting Standards (IFRS) in the EU ...

Companies must recognise higher gratuity and leave liabilities under new labour codes as expenses in interim financial ...

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-- in ...

FASB continued its efforts to improve its new lease accounting standard, issuing minor amendments, 16 targeted changes, and a proposal designed to reduce costs and make implementation easier for ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. As a result of Covid-19 and the changing landscape related to leases, private companies have ...