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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

What Is Accounting Changes and Error Correction? Accounting changes and error correction refers to guidance on reflecting accounting changes and errors in financial ...

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...

Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

The accounting rules that apply to U.S. companies are designed to produce accounting information that investors, regulators and the public can understand and trust as truthful representations of a ...

When reviewing job growth and salary information, it’s important to remember that actual numbers can vary due to many different factors—like years of experience in the role, industry of employment, ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. When investing, assessing a company’s assets and liabilities is a basic requirement to ...

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 ...