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Financial statements are one mechanism in which to provide insight into a company's financial health. However, management may not be satisfied that this information clearly reflects their business, ...

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 ...

GAAP reports in detailed, precise formats; IFRS allows flexible, principle-based reporting. GAAP does not permit asset value recovery post-impairment; IFRS allows revaluation. IFRS does not mandate ...

There are legitimate, broad-based concerns about whether current U.S. GAAP and the underlying standard-setting process are meeting the needs of private companies, and it is time to start exploring ...

There are two dominant systems of accounting used by corporations around the world. In the U.S., companies use the generally accepted accounting principles, or GAAP, while international companies use ...

GAAP, which stands for generally accepted accounting principles, is the set of accounting standards followed by most U.S. businesses, not-for-profit organizations, and state and local governments, as ...

Barclay Palmer is a creative executive with 10+ years of creating or managing premium programming and brands/businesses across various platforms. Andy Smith is a Certified Financial Planner (CFP®), ...

KraftCPAs Member Tracy Thomas writes that we should soon have a decision from the Financial Accounting Foundation on a recommendation by a blue-ribbon panel to develop a set of accounting standards ...

The United States Financial Accounting Standards Board has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules ...

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...