Basic accounting principles form guidelines that govern the preparation of financial reports. These guidelines provide a comprehensive framework for classifying, recording, presenting and interpreting ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

A bookkeeping system is merely an established method of tracking income and expenses so that you can readily tell how your business is faring. Although specifics can vary among companies, most adhere ...

We all know that improving profitability on a sustained basis generally is a long-term play that requires significant planning, discipline, accountability, implementation and patience. Processing ...

Ethical and Legal Considerations in Accounting Best practices for maintaining the trust and confidence that are the lifeblood of the global financial system. Professional ethics encompass the personal ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

Knowing GAAP will help you understand your accountant's decision-making process better. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...