Please note: This item is from our archives and was published in 2002. It is provided for historical reference. The content may be out of date and links may no longer function. The FASB series of ...

FASB has issued a proposed new chapter for its Conceptual Framework that describes a reporting entity. The proposed chapter would become Chapter 2 of FASB Concepts Statement No. 8, Conceptual ...

The new chapter will become Chapter 2 of FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting. It's similar to the rest of the framework, establishing concepts that FASB would ...

The Financial Accounting Standards Board released another chapter Wednesday of its conceptual framework related to the recognition and derecognition of an item in financial statements. Processing ...

In 2015, FASB sent a number of stakeholders into a tizzy when it issued two exposure drafts, part of its disclosure framework project, intended to “clarify the concept of materiality.” After hearing ...

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 ...

When your small business hires an accountant or gets audited, you can expect the accountant to be impartial in evaluating and reporting your financial condition. The reason for this is that the ...