When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

Generally accepted accounting principles, or GAAP, serve as guidelines for businesses large and small in reporting financial information to outsiders. GAAP's objective is to guarantee that current or ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Norwalk, Conn. — The Securities and Exchange Commission has spoken, the Financial Accounting Standards Board has listened, and the shift to principles-based accounting standards is about to take 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 ...