External audits focus on whether and how well a business's financial statements adhere to generally accepted accounting principles, or GAAP. The objective of GAAP is to standardize and regulate ...

Generally accepted accounting principles, or GAAP, essentially impact every item on a qualifying financial statement. Most companies and organizations follow GAAP when creating financial statements.

This Opinion piece appears in the June 29 print edition of Transport Topics. Click here to subscribe today. Finding quality financing for trucks and trailers recently has become more difficult for ...

More businesses are beginning to accept cryptocurrencies, including stablecoins, as a form of payment in addition to more traditional methods such as cash and credit card. Properly accounting for ...

The auditing profession is facing an economic dilemma: Audits of financial statements in accordance with GAAP are being dropped by businesses unless they are required by law, such as for companies ...

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, ...

This is our third installment on the recent CFA Institute monograph, A Comprehensive Business Reporting Model: Financial Reporting for Investors. The work, authored by a committee of experienced ...

In the US economy, private companies are taking on a bigger role. The number of privately held companies rose by about 5 percent from 1997 to 2012, by one calculation. Meanwhile the number of publicly ...

It should be no surprise that accounting standards have become more complex over the years. Transactions have become increasingly challenging as new products and services emerge and financial ...

Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their significance in this complete guide. Generally Accepted Accounting Principles are a set ...

Creative use of non-GAAP financial measures has become standard practice in public company disclosures. Management, quite correctly in most cases, often believes that the company’s dry GAAP financial ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...