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 ...

On December 3, the Supreme Court of Delaware issued an important decision related to purchase price adjustments and, specifically, how a seller's misapplication of accounting rules can leave buyer on ...

Debits and credits are an integral part of the accounting system. They are the method used to record business transactions, and keep track of assets and liabilities. Anything that has a monetary value ...

The Financial Accounting Standards Board (FASB) introduced a new accounting standard that requires companies to present service cost as the only operating component of periodic pension costs on the ...

A big change in lease accounting due in January of 2019 will affect every public and private company in the U.S., just like the tax revamp and the new rules for recording revenue that took effect for ...

Financial accounting is the process of recording and reporting your business’s income, expenses, assets and liabilities, often with the help of software. This information gives managers, owners and ...

Proposed regulations (REG-132766-18) issued Thursday update various tax accounting regulations to adopt the simplified tax accounting rules for small businesses enacted by the law known as the Tax ...

Cryptoasset holders — and the CPAs who advise them — have the opportunity to early adopt favorable new accounting rules that officially take effect from December 2024. FASB’s new guidance, which goes ...

The Public Company Accounting Oversight Board has withdrawn the two standards it approved on firm and engagement metrics and firm reporting after they came under fire from auditing firms and companies ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Some people still believe that the 150-hour rule has elevated the accounting profession. I’m ...

NEW YORK (Reuters) - The U.S. tax code and other basic facts of U.S. corporate life would need revising to enable U.S. companies to meet international accounting rules, a forum of U.S. tax and ...