GAAP/Standard Accounting Practices
Latest Contributing Articles
|
On the Switch from GAAP to IFRS Reporting
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.
|
|
Quick Reference GAAP Guide
These 12 Generally Accepted Accounting Principles help ensure that information in financial statements is relevant, reliable, consistent, and comparable.
|
|
The Nine Steps in The Accounting Cycle
The accounting cycle refers to nine steps, repeated in each reporting period, to verify transactions and prepare financial statements for internal and external users.
|
|
EU Ministers Ask IASB 'Please Explain'
Progress towards global accounting standards is under threat as EU finance ministers pressure standard setters for a more level playing field.
|
|
Enron Auditor Agrees to Pay $16M
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.
|
|
Mark-to-Market Takes Precedence in Global Crisis
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.
|
|
IFRS: Accounting Standards
What is the International Accounting Standards Board (IASB) and why are the International Financial Reporting Standards (IFRS) issued by it so important?
|
|
GAAP and Accounting Standards
Generally accepted accounting principles (GAAP) are the basis of financial accounting and reflect federal financial accounting standards. GAAP is important to US firms.
|
More in Business & Finance
Latest Articles