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

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 … ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Timothy Li is a consultant, accountant, ...

Nearly three-fourths of adults surveyed said accounting courses should be a part of the science, technology, engineering, and math education program, with a majority in key age groups saying the ...

The Financial Accounting Standards Board issued an accounting standards update Thursday for nonprofits, modifying the definition of the term “collections” to align it with the American Alliance of ...

Every year, for decades, the City of Chicago claimed to balance its budget as required by state law. Yet the City of Chicago still accumulated many billions of dollars of unfunded but real obligations ...

The right accounting package should (1) give you the information you need for management, tax estimation and tax preparation, and (2) enable you to easily input the figures. Management needs are ...

Section 1256 contracts include certain regulated futures contracts, foreign currency contracts and non-equity options. These contracts receive a unique tax treatment under the IRS code and are subject ...

On August 26, 2021, the Statutory Accounting Principles (E) Working Group (SAPWG) of the National Association of Insurance Commissioners (NAIC) directed a new “43R study group” to continue work on a ...

Goodwill in accounting and investing is a term used to describe intangible assets that don't appear in hard numbers on a balance sheet. These can include a host of things that companies tend to value ...

In recent public discourse, confusion has arisen around the concept of wealth—particularly in distinguishing between accounting, economic, and social definitions. I therefore wish to clarify these ...

While business decisions should be data-driven and usually involve consideration of quantitative financial information, that doesn't mean that qualitative information is not important as well. The ...