Suppose you buy a major asset like a new piece of machinery. Under standard accounting rules, you cannot write off the cost of the machinery in the year you incur the expense. Rather, you have to ...

An asset is anything, tangible or intangible, that has economic value to its owner or could have economic value in the future.

The Financial Accounting Standards Board issued an accounting standards update Thursday for nonprofits, modifying the definition of the term “collections” to align it with the American Alliance of ...

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 … ...

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.

Learn how carrying value signifies asset value on balance sheets, using formulas and examples to assess depreciation and amortization accurately.

Nearly three-fourths of adults surveyed said accounting courses should be a part of the science, technology, engineering, and ...

Every year, for decades, the City of Chicago claimed to balance its budget as required by state law. Yet the City of Chicago still accumulated many billions of dollars of unfunded but real obligations ...