Like others, we've watched a slowly developing controversy over the question of whether accounting standards should be "principles-based" or "rules-based." When Sarbanes-Oxley was passed, it required ...
Financial accounting refers to the generally accepted accounting principles used to create financial statements for the public, while tax accounting follows the rules of the Internal Revenue Service.
On December 3, the Supreme Court of Delaware issued an important decision related to purchase price adjustments and, specifically, how a seller's misapplication of accounting rules can leave buyer on ...
Capitalization of project costs affects the balance sheet, while expensing the costs affects the income statement. The route you assign determines whether your asset base increases or your profits ...
A big change in lease accounting due in January of 2019 will affect every public and private company in the U.S., just like the tax revamp and the new rules for recording revenue that took effect for ...
The Financial Accounting Standards Board (FASB) introduced a new accounting standard that requires companies to present service cost as the only operating component of periodic pension costs on the ...
Ramanna, Karthik. Political Standards: Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy. Chicago: University of Chicago Press, 2015. (Reviews by ...
Proposed regulations (REG-132766-18) issued Thursday update various tax accounting regulations to adopt the simplified tax accounting rules for small businesses enacted by the law known as the Tax ...
Cryptoasset holders — and the CPAs who advise them — have the opportunity to early adopt favorable new accounting rules that officially take effect from December 2024. FASB’s new guidance, which goes ...
The House passed a joint resolution Wednesday evening on a 228-182 vote that would repeal the applicability of a staff accounting bulletin from the Securities and Exchange Commission that requires ...
Accounting rule makers on Wednesday rejected a proposal by regional banks to soften the impact of a change that will force banks to book losses on soured loans much faster. The rejection means the ...
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