Financial accounting refers to the generally accepted accounting principles used to create financial statements for the public, while tax accounting follows the rules of the Internal Revenue Service.

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Discover how badwill, or negative goodwill, impacts accounting when purchasing companies at below market value. Learn examples and effects on financial statements.

Accounting is the compilation of financial information for various purposes, such as managing a corporate budget, making informed decisions with regard to business operations and predicting future ...

The International Accounting Standards Board published a consultation document Wednesday with eight proposed illustrative examples showing how companies could apply International Financial Reporting ...

The International Financial Reporting Standards Foundation has published a set of near-final examples showing how companies can improve the reporting of uncertainties in their financial statements ...

Discover the key assumptions of accounting postulates and their role in shaping accounting standards, including revenue ...