Businesses and other economic entities record transactions and compile them using different accounting bases that best suit their preferences and needs. Each accounting basis can be imagined as a ...

In cost accounting, an accountant often uses the information about costs during a certain period to project future expenses. There are several methods the accountant may use for his estimations, ...

IMGCAP(1)]All too often in the practice of accounting we are predominately attentive to adhering to the concepts and conventions promulgated by the “accounting gods.” We rightfully are preoccupied ...

The Financial Accounting Foundation’s board of trustees is changing the process for doing post-implementation reviews of the effectiveness of accounting standards, shifting the leadership of the ...

Effective tax accounting is a complex and high-stakes function. The accuracy of tax provisions is critical to financial reporting, yet vulnerabilities exist due to the reliance on spreadsheets and the ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...