U.S. public companies must follow the GAAP rules in preparing their financial statements David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, ...

Learn how accounting conventions ensure consistent financial reporting, fill gaps in standards, and assist in practical ...

The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial ...

With the emergence of International Financial Reporting Standards (IFRS), most discussion of the proposed convergence of U.S. generally accepted accounting principles, or GAAP, and IFRS standards has ...

This article was updated with additional reporting at 5:20 p.m. Eastern. If the thought of organizing your business financial statements gives you a headache, announcements from two leading U.S.

The International Ethics Standards Board for Accountants decided to move ahead on a project to update its International Code ...

Given new standards, changes in the economy, and corporate trends, accounting and financial reporting seem to grow more complex every year. The Financial Accounting Standards Board (FASB) has tried to ...

Current IASB chair Andreas Barckow's term ends on June 30, but his final successor isn't expected to be installed until Oct.

If you are the owner of a private company, this is the year you will need to change your accounting framework for the fiscal year following Dec. 31, 2010. Instead of using Canadian generally accepted ...

The current leasing standard requires much more number-crunching for auditors than the previous version, and the ACAG says ...