It may seem belated, but the Governmental Accounting Standards Board has just recently gotten around to defining such fundamental accounting concepts as "asset" and "liability."It has also defined a ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Financial accounting summarizes and reports a business's financial position to external ...

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

Accounting professionals are accustomed to complying with accounting standards. Generally accepted accounting standards set the guidelines for reporting financial transactions in the United States.

The accounting and finance coursework guides learners to organize and interpret the financial health of a business. From budgeting, the time value of money, risk, and ROI, learners gain the ability to ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The Federal Accounting Standards Advisory Board (FASAB) is seeking feedback on an exposure draft aimed at further standardizing and adding value to note disclosures in financial statements.