When your small business sells or plans to sell a business component, such as a subsidiary or division, that is separate from the rest of your continuing operations, you must report the component's ...

The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

In what can be seen as a cruel irony in the midst of the current financial crises, the Financial Accounting Standards Board has issued a proposed staff position - 144-d, Amending the Criteria for ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

The Financial Accounting Standards Board has issued new guidance on representing when a company or organization discontinues its operations. Accounting Standards Update No. 2014-08, Presentation of ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

An essential financial document that reports revenue, expenses, gains, and losses David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate ...

This report is one of a series on the adjustments we make to convert GAAP data to economic earnings. This report focuses on an adjustment we make to convert the reported balance sheet assets into ...

The income statement summarizes sales, expenses and profits for an accounting period. Expenses include cost of goods sold, operating and non-operating expenses, and unusual expenses. Operating ...