When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

Purpose: To provide an overview of the fundamentals for basic fund accounting and the financial reporting structure within the context of higher education accounting, Generally Accepted Accounting ...

Small companies can choose from three different options to prepare their company's financial statements. One option is accrual basis accounting, which is based on generally accepted accounting ...

Do you follow generally accepted accounting principles? GAAP tells the story of your business this way: Sales minus expenses equals profit. However, Mike Michalowicz's book Profit First argues that we ...

Accounting provides a means for recording and conveying economic data for compliance and decision-making purposes according to AccountingVerse. The three components of accounting systems are ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

How do you improve the quality of financial reporting in countries switching from a planned to a market economy? Conventional wisdom suggests these countries should simply adopt high-quality ...

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 ...

Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...