In early May, several pronouncements were issued by the Internal Revenue Service in connection with changes in accounting periods. The guidance reflects the continuing effort by the IRS to identify ...

The accounting cycle tracks a transaction until it's added to your company's financial statement. Follow this eight-step ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Consumers account for their time differently than they track their money, according to a new study in the Journal of Consumer Research. "Imagine finding a free ticket to an outdoor concert after ...

Ask someone to define a year and they’ll probably say January 1 to December 31. That’s correct of course—but it’s not the only correct definition. January to December represents a calendar year: the ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...

Accounting is undoubtedly one of the most crucial components of running a successful business. It's impossible to overlook the significance of keeping track of your finances. With a clear ...

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...