GAAP/Standard Accounting Practices
All contributors in GAAP/Standard Accounting Practices
On the Switch from GAAP to IFRS Reporting
By: Bruce Silver
The SEC has decided to give up GAAP. Financial statements by companies in the U.S. will no longer follow GAAP, but will follow IFRS. more...
By: Miranda Miller
These 12 Generally Accepted Accounting Principles help ensure that information in financial statements is relevant, reliable, consistent, and comparable. more...
The Nine Steps in The Accounting Cycle
By: Miranda Miller
The accounting cycle refers to nine steps, repeated in each reporting period, to verify transactions and prepare financial statements for internal and external users. more...
EU Ministers Ask IASB 'Please Explain'
By: Eva Wiland
Progress towards global accounting standards is under threat as EU finance ministers pressure standard setters for a more level playing field. more...
Enron Auditor Agrees to Pay $16M
By: Eva Wiland
An accord with Enron Corp creditors to pay $16M, settling claims it was negligent in auditing and advising the energy giant, starts Arthur Andersen LLP's final chapter. more...
Mark-to-Market Takes Precedence in Global Crisis
By: Eva Wiland
The Financial Crisis Advisory Group has singled out fair value or mark-to-market accounting as one of the main areas of improvement in response to the global crisis. more...
By: Tiffany Bradford
What is the International Accounting Standards Board (IASB) and why are the International Financial Reporting Standards (IFRS) issued by it so important? more...
All contributing articles in GAAP/Standard Accounting Practices (general)
