Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

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

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 ...

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 ...

When a business is audited, the reviewer job is to ensure that management's assertions in the financial statements are verifiably true. To assess the validity of these claims, the auditor will conduct ...

Following general accounting principles is essential to managing your business. Maintaining a balance sheet of your assets and liabilities, tracking your cash flow with an income statement and ...

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 ...

In the past five years, cryptocurrency has gone from a rare and seldom-used form of currency to a headline-grabbing monetary instrument that has the potential to change the way business is conducted.

Interplay between the economic and accounting impact of new International Financial Reporting Standards (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments) is challenging the asset and ...

Assets generate income and appreciate in value, while liabilities drain resources and depreciate over time. Do you want to improve your net worth? Probably so. But if you’re like many people, you ...