Basic accounting principles form guidelines that govern the preparation of financial reports. These guidelines provide a comprehensive framework for classifying, recording, presenting and interpreting ...

A bookkeeping system is merely an established method of tracking income and expenses so that you can readily tell how your business is faring. Although specifics can vary among companies, most adhere ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Somer G. Anderson is CPA, doctor of ...

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 ...

Ethical and Legal Considerations in Accounting Best practices for maintaining the trust and confidence that are the lifeblood of the global financial system. Professional ethics encompass the personal ...

Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...