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

Accounting is often referred to as the language of business because it is the concept that presents information to business leaders who need it to make important decisions. It condenses the activities ...

FASB HAS ISSUED STATEMENT NO. 154 PROVIDING rules for how companies should treat changes in accounting principle. The statement requires retrospective application in all comparative financial ...

Businesses and other economic entities record transactions and compile them using different accounting bases that best suit their preferences and needs. Each accounting basis can be imagined as a ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

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 ...