TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...

When investing, assessing a company’s assets and liabilities is a basic requirement to determine what the company is worth. Thankfully, public companies file their financial statements with the ...

Learn how to identify creative accounting practices that manipulate balance sheets, impacting assets, liabilities, and equity for perceived financial performance.

Liabilities includes all credit accounts on which your business owes principal and interest. These debts typically result from the use of borrowed money to pay for immediate asset needs. Long-term ...

Assets are quantifiable things — tangible or intangible — that add to your company’s value Liabilities are what your company owes to others, whether that’s an investor or a bank that issued a loan ...

Asset management is an integral part of accounting basics that deals with the monitoring and maintenance of valuable items owned by an individual or an entity. Assets contribute significantly to the ...

A significant report for every business leader to review, at least annually, is the balance statement. It gives business leaders insight into the financial health of the company. To get a true picture ...

The Financial Accounting Standards Board has decided to tweak some of its standards related to contract assets and liabilities for construction contractors in response to recommendations from its ...

Acquiring entities are required to measure contract assets and liabilities acquired in a business combination in accordance with FASB’s Topic 606 revenue recognition guidance, according to a new FASB ...