The National Association of State Boards of Accountancy’s board of directors voted unanimously to approve a set of proposed amendments to the Uniform Accountancy Act model rules for education, paving ...

Accounting is a powerful word. Investorwords.com defines it as "The systematic recording, reporting and analysis of (the) financial transactions of a business." The two organizations that regulate ...

For the black-and-white reputation that accounting has, the profession allows transactions to be accounted for in many different ways. The preferred method of accounting for a transaction depends on ...

US companies are scrambling to adjust to a change in accounting rules that has been more than a decade in the making. The new Accounting Standards Update (ASU), otherwise known as ASC 606, is intended ...

Like others, we've watched a slowly developing controversy over the question of whether accounting standards should be "principles-based" or "rules-based." When Sarbanes-Oxley was passed, it required ...

In the years since the 2007–10 financial crisis, US lawmakers have tightened accounting rules governing what information banks must disclose and how they must present the data. The tighter rules make ...

The White House’s Cost Accounting Standards Board (CAS) has proposed eliminating more than 60 redundant accounting rules that have remained largely unchanged for over 50 years. The board published two ...

The IRS issued proposed regulations (REG-132766-18) on July 30 related to simplified tax accounting rules for small businesses and updating various tax accounting regulations to adopt the simplified ...

As a result of the financial crisis, one of the biggest changes that has been brought about in terms of accounting standards is the way that banks recognize losses on their loan portfolios. What ...

Two professional groups have asked the Financial Accounting Standards Board to delay the private company implementation date for new lease accounting rules by one year. The American Institute of ...

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