Please note: This item is from our archives and was published in 2005. It is provided for historical reference. The content may be out of date and links may no longer function. here’s a new philosophy ...

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

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 ...

Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the ...

While not perfect, generally accepted accounting principles are considered the gold standard of accounting rules. Corporations throughout the country use GAAP to prepare their financial statements.

Accrual accounting is the preferred approach for companies reporting their financial statements under generally accepted accounting practices (GAAP), which are issued through the standards of the ...

The Financial Accounting Standards Board formally issued a proposed accounting standards update Wednesday to delay the effective date of its long-duration insurance standard to give companies more ...

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 ...

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 ...