Generally accepted accounting principles, or GAAP, essentially impact every item on a qualifying financial statement. Most companies and organizations follow GAAP when creating financial statements.

Generally accepted accounting principles are a set of 10 accounting standards and guidelines created and maintained by the U.S. Financial Accounting Standards Board. Since the FASB established GAAP ...

This Opinion piece appears in the June 29 print edition of Transport Topics. Click here to subscribe today. Finding quality financing for trucks and trailers recently has become more difficult for ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

GAAP, which stands for generally accepted accounting principles, is the set of accounting standards followed by most U.S. businesses, not-for-profit organizations, and state and local governments, as ...

Over nearly 22 years, we have consistently criticized financial accounting’s status quo and its practitioners, including regulators, auditors and educators. To our disappointment, GAAP and its ...

Financial statements are one mechanism in which to provide insight into a company's financial health. However, management may not be satisfied that this information clearly reflects their business, ...

Engaging external auditors to perform procedures outside the financial statement audit related to non-GAAP financial measures or key performance indicators (KPIs) can raise public confidence in this ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.