Discover how companies report long-term debt in their financial statements, listed under long-term liabilities on the balance sheet.

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.

Financial accounting is the process of recording and reporting your business’s income, expenses, assets and liabilities, often with the help of software. This information gives managers, owners and ...

It's no secret that proper financial planning is key to a successful future. But what many people don't know is what happens to their tax liability with a well-thought-out plan. For example, what ...

The Financial Accounting Standards Board has decided to tweak some of its standards related to contract assets and liabilities for construction contractors in response to recommendations from its ...

Interplay between the economic and accounting impact of new International Financial Reporting Standards (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments) is challenging the asset and ...

A company’s success hinges upon the mastery of its finances. While practically every business must maintain a tight rein on its assets, liabilities, income and cash flow, these accounting processes ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

Disputes between what accounting standards permit and what regulatory authorities in Kenya allow have become increasingly frequent over the years, particularly in relation to line items that directly ...

Accounting is a foundational process for every business, no matter how big or small. Learn what accounting is, why it matters and how to make it work for you. Keeping accurate financial records is the ...