Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording requirements that accompany these changes.

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 ...

Learn how accounting measurement quantifies economic activities, enabling better business analysis and comparison through various methods, units, and principles.

Effective management accounting practices can improve decision-making in organizations, which need sound fundamentals but also speed when trying to decide which strategic paths to follow. In short, ...

Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. The cost principle is an important part of financial ...

It's the job of an accountant to create accurate financial statements, which means that assets, liabilities, sales and expenses should be recorded in the period in which they were incurred. However, ...

A basic principle of accounting is that net operating losses are subtracted from retained earnings and thus from capital. If the losses are big enough, capital goes negative, your liabilities exceed ...

The Accounting Review is the premier journal for publishing articles reporting the results of accounting research and explaining and illustrating related research methodology. The scope of acceptable ...