Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

The Financial Accounting Standards Board sets national accounting standards, called Generally Accepted Accounting Principles, for publicly traded companies in the United States. GAAP standards provide ...

The whole point of accounting is to present a precise financial picture of your business operations. By the accepted standards of the industry, financial accounting consists of five basic elements.

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 ...

The Financial Accounting Foundation, the group that oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, plans to improve free online access to both ...

The International Accounting Standards Board and the International Sustainability Standards Board are developing standards for rate-regulated activities and carbon.

The International Accounting Standards Board (IASB) issued a standard for insurance contracts Thursday to help investors and others better understand insurers’ risks exposure, profitability, and ...

Five years after the Financial Accounting Standards Board (FASB) first issued new revenue recognition rules, we finally get to see its impact on reported financials. The new standard was originally ...

Executives at large public companies are concerned about the Financial Accounting Standards Board’s plan requiring them to further break down labor and other operating expenses that appear on their ...