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

What Is Financial Accounting Standard 157 (FAS 157)? Financial Accounting Standard 157 (FAS 157) is the Financial Accounting Standards Board (FASB)’s controversial fair value accounting standard, ...

Understanding the various types of accounting methods is crucial for any business or individual looking to manage their finances effectively. Each method has its own set of rules and benefits, which ...

"Uncertainty" in accounting refers to the difficulty of predicting outcomes because of limited or inexact knowledge. Financial statements often contain estimates and other information based on ...

Norwalk, Conn. — In a continuing effort to quickly converge at least a few U.S. standards to international standards, the Financial Accounting Standards Board is hammering out a proposal on liability ...

Accounting is supposed to be boring: pencil-pushing bean counters, adding endless columns of numbers. However, when it is your business that is concerned, and you need to know how to price your ...