Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Financial accounting summarizes and reports a business's financial position to external ...

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

On August 15, the OCC released an annual update to its Bank Accounting Advisory Series (BAAS) which is intended to address a variety of accounting topics and promote consistent application of ...

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 ...

In accounting, a principles-based on approach is the most popular accounting method globally because it is usually better to adjust accounting principles to a company's transactions, rather than ...

On October 24, 2023, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the “Agencies”) released their final ...

Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

WASHINGTON, April 30 (Reuters) - U.S. and European leaders reached a financial services agreement on Monday that seeks to increase regulatory cooperation and implement pending banking and accounting ...

Small-business owners who want to maximize their company's potential should practice fundamental accounting and understand the fundamental accounting equation. You need a professional accountant – not ...

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...