Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

Financial accounting principles shape the recording of nearly every business transaction in the business world. The creation of these principles is no small task and can sometimes seem nearly ...

Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording requirements that accompany these changes.

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...

Learn how administrative accounting supports decision-making and operational control with roles like payroll management and budgeting. Discover key differences from financial accounting.

Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

Effective management accounting practices can improve decision-making in organizations, which need sound fundamentals but also speed when trying to decide which strategic paths to follow. In short, ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

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 ...

Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

GAAP ensures public companies report finances consistently for clear investor comparisons. GAAP adherence is mandated by the SEC, crucial for comparing financial performance. Understanding GAAP helps ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...