Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals, and costing formulas.

The GAAP approves four different methods for depreciating business assets: the straight-line method, the units of production method, the declining balance method and the sum-of-the-year's-digits ...

Discover the three essential financial statements required by GAAP: income statement, balance sheet, and cash flow statement, ensuring accurate financial reporting.

Many companies, large and small, offer a broad range of products and services to their customers. Often these product and service sales are negotiated at the same time with a single customer, ...

The Governmental Accounting Standards Board released a study Monday on utilization of GAAP among state and local governments and found all the states are using GAAP, but only about three-quarters of ...

Imagine you're about to purchase a manufacturing company. Your final decision comes down to two profitable enterprises, and you have their financial reports on your desk. These reports are the basis ...

I recently spoke with Harry Drew, CMA, senior vice president and chief financial officer of Legacy Funeral Group in Houston, Texas. He is also a member of the IMA Small Business Financial and ...

Forbes contributors publish independent expert analyses and insights. #1 stock picker for 51 straight months on SumZero. AI is my edge. Whenever non-GAAP metrics get attacked, a slew of contrarians ...

It would be understandable if leaders of some private companies have not had the time to consider adopting the private company GAAP alternatives created by FASB’s Private Company Council (PCC).

The 2019 third quarter earnings season is approaching its end with over 400 S&P 500 companies having already reported results. A key part of these results for investors is the company’s earnings, and ...