Learn about the Statement of Financial Accounting Concepts issued by FASB, outlining financial reporting principles and their role in shaping GAAP standards.

Discover what accounting insolvency means, its key differences from cash flow insolvency, and explore real-world examples to better manage financial challenges.

Knowing where your company spends money gives you better control over its future. Cost center accounting identifies how areas of the company that don't generate profit but are needed to support those ...

Money rules the world. From Fortune 500 companies to the dollar bills in your wallet, money is what makes the world go round. Although many people lack a basic understanding of money. That’s why we ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

FASB issued a new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. Chapter 6 of FASB Statement of Financial Accounting Concepts No. 8, ...

Bruns, William J., Jr. "Accounting Framework, Financial Statements, and Some Accounting Concepts, The." Harvard Business School Background Note 193-028, August 1992 ...

Here are five ways I see AI impacting the field of accounting in 2026.

The University of Cape Town (UCT) College of Accounting has collaborated with Fasset (Finance and Accounting Services Sector Education and Training Authority) and GetSmarter to launch ...

The accounting industry is at a crossroads. Reports indicate there are 340,000 fewer accountants now, compared to 2019. For years, fewer people have been entering the field, creating a significant ...