In the area of fixed assets and the resultant depreciation there are some major differences between the GAAP rules codified in ASC Topic 360 and the IFRS rules in IAS 16. In GAAP there is only one way ...

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 ...

Editor’s Note: Lee Hodge is a member of the Business Practice Group at Ward and Smith, P.A. What is Changing? The U.S. Securities and Exchange Commission ("SEC") has announced a proposed timetable for ...

GAAP accounting stands for generally accepted accounting principles. These principles are a set of standardized rules that accountants use. Companies that sell public stock and release financial ...

Generally accepted accounting principles are a set of 10 accounting standards and guidelines created and maintained by the U.S. Financial Accounting Standards Board. Since the FASB established GAAP ...

The Situation: New rules for the accounting of operating leases will come into force under the International Financial Reporting Standards ("IFRS") and U.S. Generally Accepted Accounting Principles ...

When a company or individual makes an investment, the obvious goal is for that investment to increase in value over time. However, until the investment is sold, these capital gains are unrealized-- in ...

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, ...

Prompted by federal regulators, Tesla urged its numbers crunchers to do their work a bit differently last year. Alarmed by publicly traded companies’ increasing ways to be creative with their income ...

WASHINGTON, DC - APRIL 27: The Internal Revenue Service headquarters building appeared to be mostly empty April 27, 2020 in the Federal Triangle section of Washington, DC. The IRS called about 10,000 ...