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, ...

Accounting technology is revolutionizing the way firms operate. What once took paper ledgers and hours of manual work can now be done in a fraction of … ...

The Financial Accounting Standards Board has released guidance aimed at clarifying the official definition of a “business” for purposes of the accounting rules. The new accounting standards update ...

Small-business owners who want to maximize their company's potential should practice fundamental accounting and understand the fundamental accounting equation. You need a professional accountant – not ...

Suppose you buy a major asset like a new piece of machinery. Under standard accounting rules, you cannot write off the cost of the machinery in the year you incur the expense. Rather, you have to ...

The Financial Accounting Standards Board and the International Accounting Standards Board tentatively decided to define fair value as an exit price during a three-day joint meeting this week. Fair ...