The Financial Accounting Standards Board has released guidance aimed at clarifying the official definition of a “business” for purposes of the accounting rules. The new accounting standards update ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Timothy Li is a consultant, accountant, ...

Accounting technology is revolutionizing the way firms operate. What once took paper ledgers and hours of manual work can now be done in a fraction of the time, thanks to AI automation and real-time ...

Business bookkeeping gets very complex, with divisions and subsidiaries requiring their own set of accounts. When the business accounting records are established, every account is titled and assigned ...

The Financial Accounting Standards Board’s guidance on the definition of a business could be of special benefit to the real estate, pharmaceutical, biotech and financial services industries, but doesn ...

Accounting for turnover is often a useful practice in small-business management. Turnover is simplistic, but it provides a straight-forward way of assessing the efficiency of a business.

Current Cost Accounting attempts to capture the effect of inflation on asset values (and liabilities) by recording them at their current replacement cost, i.e. the cost of obtaining an identical ...