As a business owner, you understand that accounting has to be accurate, but you may not know why accounting standards – the rules with acronyms such as GAAP and IFRS – are such a big deal. If you were ...

The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. While it is convenient to ...

The Financial Accounting Standards Board has released its long-awaited hedging standard, the final component of its financial instruments convergence project with the International Accounting ...

The new accounting standards update will also increase the information available about liquidity and the availability of resources, he noted. “The ASU requires a not-for-profit to provide certain ...

This article explains the approach taken by the IASB and reflects on the alignment approach adopted by the board. This article will be followed with two more articles in the same series on the third ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. David Kindness is a Certified Public Accountant (CPA) and an ...