Countries and jurisdictions throughout the world mandate that entity financial statements be prepared using International Financial Reporting Standards, and that audits be conducted in accordance with ...

Discover how Statements of Financial Accounting Standards (SFAS) guide U.S. accounting principles. Learn about their impact and why they've been replaced.

In accounting, a principles-based on approach is the most popular accounting method globally because it is usually better to adjust accounting principles to a company's transactions, rather than ...

As a business owner, you understand that accounting has to be accurate, but you may not know why accounting standards – the rules with acronyms such as GAAP and IFRS – are such a big deal. If you were ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. Eric's career ...