Companies use financial statements both for internal and external purposes. Those that supply information to the public must follow accounting principles. Both the Generally Accepted Accounting ...

The Situation: New rules for the accounting of operating leases will come into force under the International Financial Reporting Standards ("IFRS") and U.S. Generally Accepted Accounting Principles ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

A company that doesn't provide a balance sheet when publishing its financial statements doesn't abide by accounting rules -- the most prominent of which include generally accepted accounting ...

The financial world rarely changes overnight. Yet there are moments when a single regulatory shift forces bankers, investors, and accountants to rethink the foundations of their work. When IFRS 9 came ...

When you want to know a company’s financial health, it helps to look at its balance sheet. But if you’ve never seen a balance sheet before or don’t know how to read one, all you’ll see is a collection ...