Ever since the Financial Accounting Standards Board's original Conceptual Framework was established in the early 1980s, we have embraced relevance as a major goal, if not the goal, in bringing ...

Nonprofit organizations are entities that perform charitable services by accepting funds from the general public. To help regulate activities and encourage the proper use of funds, accounting ...

The American Institute of CPAs and the Chartered Institute of Management Accountants have proposed a framework with the goal of bringing consistency to management accounting practice across the world.

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 ...

Members of Congress have recently introduced bipartisan legislation to delay the implementation of a new accounting standard that will require many banks to more carefully calculate, and report in ...

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 ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief.

A recent meeting of minds in the scenic beach town of Norwalk, Connecticut, may boost the future value of your investment portfolio. And Chicago Booth’s formidable accounting faculty helped bring it ...

Many companies and accounting firms have been focusing on new standards on revenue recognition and accounting for leases, hedging, and credit losses. But another new FASB standard — on cloud computing ...