Compare GAAP and IFRS, the leading accounting standards. Discover their key differences, understand global accounting ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

Please note: This item is from our archives and was published in 2002. It is provided for historical reference. The content may be out of date and links may no longer function. The FASB series of ...

The new chapter will become Chapter 2 of FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting. It's similar to the rest of the framework, establishing concepts that FASB would ...

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. Processing Content FASB ...

Scientists established the International System of Units in the 19th century to give them a common set of standards to work with, rather than the multiple units of measurement that made it difficult ...

Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...

In 2015, FASB sent a number of stakeholders into a tizzy when it issued two exposure drafts, part of its disclosure framework project, intended to “clarify the concept of materiality.” After hearing ...