Discover the key differences between IFRS and GAAP accounting standards, and learn how they impact financial reporting for ...

Lawmakers and business leaders have seen a need to harmonize or integrate, the accounting standards of the United States, which operates under Generally Accepted Accounting Principles (GAAP), with ...

Discover how the Accounting Principles Board (APB) set foundational accounting standards and influenced today's GAAP under the FASB in the financial reporting world.

In December 2018, the Public Company Accounting Oversight Board adopted its own standard for auditing accounting estimates (see story), and the SEC approved it last July. The PCAOB standard applies to ...

Accounting has been around since as far back as the days of the ancient Egyptians for good reason. If you’re considering investing, or even just trying to keep track of your personal income and ...

The Federal Accounting Standards Advisory Board released a standard Friday for accounting and financial reporting on government-owned land and delayed the effective date due to the pandemic.

Nonprofit organizations are entities that perform charitable services by accepting funds from the general public. To help regulate activities and encourage the proper use of funds, accounting ...

Last year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to the many ...

A new Accounting Standards Update (ASU) aims to better align hedge accounting with an organization’s risk management strategies. The ASU, issued Monday by FASB, expands the current single-layer ...

Public companies’ required implementation of FASB’s new lease accounting standard in 2019 means that financial statement auditors need to be prepared to make new judgments. Although the private ...

Collaboration between regulatory and professional bodies can improve standard of accounting that will ensure good corporate governance in financial entities, Bangladesh Bank Governor Fakhruddin Ahmed ...