Investopedia / Laura Porter Financial accounting utilizes a series of established principles. The accounting principles used depend on the business's regulatory and reporting requirements. Companies ...

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 ...

Every business owner needs to have at least a rudimentary understanding of accounting theories and principles. Understanding your books and what various accounting reports represent helps you ...

Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

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 ...

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 ...