A contingent liability is a potential cost a company may or may not incur in the future. A contingent liability could be a guarantee on a debt to another entity, a lawsuit, a government probe, or even ...

The Cost Accounting Standards Board, a group set up by Congress in 1970 to make sure federal contractors charge their costs appropriately, is finally making some progress in aligning its 19 cost ...

A new Accounting Standards Update establishes previously missing GAAP guidance related to the recognition, measurement, and ...

When a company or individual makes an investment, the obvious goal is for that investment to increase in value over time. However, until the investment is sold, these capital gains are unrealized-- in ...

Generally Accepted Accounting Principles and Governmental Auditing Standards differ and cover different aspects of the financial reporting process. GAAP defines how businesses, both public and private ...

GAAP accounting stands for generally accepted accounting principles. These principles are a set of standardized rules that accountants use. Companies that sell public stock and release financial ...

GAAP, which stands for generally accepted accounting principles, is the set of accounting standards followed by most U.S. businesses, not-for-profit organizations, and state and local governments, as ...

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 ...

While not perfect, generally accepted accounting principles are considered the gold standard of accounting rules. Corporations throughout the country use GAAP to prepare their financial statements.

Purpose: To provide an overview of the fundamentals for basic fund accounting and the financial reporting structure within the context of higher education accounting, Generally Accepted Accounting ...

In May 2016, the Securities and Exchange Commission issued updated interpretations to its rules for public companies in financial reporting that does not comply with generally accepted accounting ...