But the question of how, and when, profits are recognized for tax purposes is driven heavily by the application of ...

Example: A company delivers goods in December but receives payment in January; revenue is recognized in December. 2. Consistency Principle: Once an accounting method is adopted, it should be used ...

Examples of commonly changed estimates include bad-debt allowance, warranty liability, and depreciation. Accounting principle changes can also occur when older principles are no longer accepted or ...

The author and editors take ultimate responsibility for the content. Generally accepted accounting principles, or GAAP, is a set of accounting standards followed by most U.S. businesses ...

Generally accepted accounting principles (GAAP) require that all inventory reserves be stated and valued using either the ...

Don’t let familiarity hold you back from finding an accounting partner who can offer more than just the basics.

In business leadership, standing out requires far more than keeping up; it means setting the pace. Four essential principles ...

GAAP, or Generally Accepted Accounting Principles, accounting standards ... with non-GAAP numbers. For example, one-time costs suddenly become recurring costs. Synergies that were expected don ...

Third Quarter Revenues of RMB 1,023.9 million, an increase of 10.5% year-over-year-- Third Quarter Net Loss of RMB 40.9 million, compared to ...

Ready to take control of your company’s financial health? Explore the costs, features, and benefits of an online bookkeeping ...

Idea: Each class should only do one job. If a class does multiple things, it can become difficult to maintain and update.