If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

GAAP reports in detailed, precise formats; IFRS allows flexible, principle-based reporting. GAAP does not permit asset value recovery post-impairment; IFRS allows revaluation. IFRS does not mandate ...

Private companies are calling for their own accounting playbook. While privately held companies easily make up the majority of businesses in the U.S., they still are governed by the same set of basic ...

Trump's $250M fraud trial hinges on whether he followed generally accepted accounting principles. In an effort to keep our readers awake, we asked two accountant-comedians to explain the wonkiness.

Barclay Palmer is a creative executive with 10+ years of creating or managing premium programming and brands/businesses across various platforms. Andy Smith is a Certified Financial Planner (CFP®), ...

On December 13, 2022, the staff of the Division of Corporation Finance (the “staff”) of the Securities and Exchange Commission (the “SEC”) published seven new or revised Compliance and Disclosure ...

Financial statements are one mechanism in which to provide insight into a company's financial health. However, management may not be satisfied that this information clearly reflects their business, ...

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 ...

Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...