Learn what accounting periods are, the different types, and their importance in financial analysis, including key principles ...

Accounting principles are the rules that public companies must use when preparing and disclosing their Accounting principles ...

It may seem belated, but the Governmental Accounting Standards Board has just recently gotten around to defining such fundamental accounting concepts as "asset" and "liability."It has also defined a ...

Please note: This item is from our archives and was published in 2002. It is provided for historical reference. The content may be out of date and links may no longer function. The FASB series of ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

The accounting cycle involves eight essential steps for accurate financial reporting. Transactions are recorded and allocated to accounts in the general ledger. Discrepancies are identified when total ...

The three main types of accounting for businesses are tax accounting, financial accounting and management accounting. Many new businesses perform only tax accounting so they can file their tax returns ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

To understand the financial health of your business, it’s critical that you keep accurate records. Having solid, easy-to-understand accounting reports when you need them is a good step toward ensuring ...