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

Companies must follow all specific rules and regulations with regularity. The accounting principles work together, so any deviation from reporting requirements on one part of a company's financial ...

Take a deeper look into the development and purpose of the generally accepted accounting principles, also known as GAAP, which are used for financial reporting.

Generally accepted accounting principles (GAAP) is a technical accounting term that encompasses the conventions, rules and procedures necessary to define accepted accounting practice at a particular ...

The International Accounting Settings Board (IASB ... vary depending on which method is used. IFRS is "principles-based," while GAAP is "rules-based." Countries that have adopted the IFRS use ...