New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

FASB extended the period of time preparers can use the reference rate reform relief guidance by two years, to 2024. Regulators encourage accounting professionals to continue to tell their clients’ ...

Meagan is a former Series 7 financial advisor and current writer focused on blending straightforward information with a dose of humor on topics including equity investments, insurance products, and ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. The proposed chapter, Concepts Statement No. 8, ...

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 ...

A statement, in accounting terms, is synonymous with "report." There are several common accounting statements, all of which draw on the same accounting data but which are prepared for different ...

Business accounting procedures provide essential information that supports professional decision-making. Management and financial accounting are two methods for tracking, recording and interpreting ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. To understand the financial health of your business, ...