GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note ...

The Federal Accounting Standards Advisory Board (FASAB) is seeking feedback on an exposure draft aimed at further standardizing and adding value to note disclosures in financial statements.

The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial ...

Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework discussing the recognition and derecognition of an item in financial statements. FASB's conceptual ...

The Financial Accounting Standards Board released a new chapter of its Conceptual Framework on the measurement of items recognized in financial statements, while also drawing that long-running project ...

Whether you're planning to pursue a career in accounting, management, finance, economics, or any other related field, learning the fundamentals of accounting can provide the framework you need to be ...

Financial accounting principles shape the recording of nearly every business transaction in the business world. The creation of these principles is no small task and can sometimes seem nearly ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...