Learn about accounting interpretations, why they matter, and how they clarify standards, prevent errors, and provide consistency in financial reporting.

Business bookkeeping gets very complex, with divisions and subsidiaries requiring their own set of accounts. When the business accounting records are established, every account is titled and assigned ...

Construction workers tend to work based on contractors they make with the owners of property. Traditionally these contractors could choose from a variety of accounting procedures to account for the ...

Learn about footings in accounting: how they function in balance sheets, their importance in finalizing balances, and a ...

Section 1256 contracts include certain regulated futures contracts, foreign currency contracts and non-equity options. These contracts receive a unique tax treatment under the IRS code and are subject ...

The right accounting package should (1) give you the information you need for management, tax estimation and tax preparation, and (2) enable you to easily input the figures. Management needs are ...

When I ask business leaders how their business is doing, I’ll often get a response that goes something like, “Well, we’re breaking even.” Most of us have an intuitive sense of what “breakeven” means.

In recent public discourse, confusion has arisen around the concept of wealth—particularly in distinguishing between accounting, economic, and social definitions. I therefore wish to clarify these ...

The American Institute of CPAs has a number of high-profile items on the agenda for its Spring Meeting of Council next week, including re-evaluating its recognition of the International Accounting ...