Nonprofit organizations are entities that perform charitable services by accepting funds from the general public. To help regulate activities and encourage the proper use of funds, accounting ...

Learn the key differences between GAAP and non-GAAP financial reports and discover how to interpret their numbers effectively ...

In March, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to help stabilize the U.S. economy in the wake of COVID-19. Included in the Act, and little noticed by the ...

With the emergence of International Financial Reporting Standards (IFRS), most discussion of the proposed convergence of U.S. generally accepted accounting principles, or GAAP, and IFRS standards has ...

Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

Lease accounting is becoming more complex and detailed for private companies and not-for-profit entities. Business valuations may also be impacted by the new standard. Effective in fiscal years ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief.

Many companies and accounting firms have been focusing on new standards on revenue recognition and accounting for leases, hedging, and credit losses. But another new FASB standard — on cloud computing ...

IRDAI proposes new accounting standards for insurers from April 1 to align with global practices, improving transparency and investor confidence with Ind AS 117 and Ind AS 109.

Members of Congress have recently introduced bipartisan legislation to delay the implementation of a new accounting standard that will require many banks to more carefully calculate, and report in ...