U.S. public companies must follow the GAAP rules in preparing their financial statements David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, ...

Understanding whether to capitalize or expense costs can keep your financial statements in accordance with generally accepted accounting principles (GAAP) and you out of trouble with the tax ...

New accounting guidance issued Monday by GASB reduces from four to two the categories of authoritative GAAP in the GAAP hierarchy for state and local governments. Under GASB Statement No. 76, The ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance ...

Accrual accounting is the preferred approach for companies reporting their financial statements under generally accepted accounting practices (GAAP), which are issued through the standards of the ...

SAP has enhanced its accounting platform to help CFOs and chief accounting officers master the new IFRS 15/ASC 606 standards on revenue recognition. These new accounting standards apply to all ...

GAAP ensures public companies report finances consistently for clear investor comparisons. GAAP adherence is mandated by the SEC, crucial for comparing financial performance. Understanding GAAP helps ...