The new standards require public companies to provide additional information about specific costs and expenses.

According to generally accepted accounting principles (GAAP), there are two criteria a company must meet before it can record ...

The passage of the landmark Bipartisan Infrastructure Law (Infrastructure Investment and Jobs Act, IIJA) by Congress ...

Compliance with the standards update “isn’t going to be cheap” for many firms, but the FASB has taken steps to reduce the ...

With the debt ceiling being raised yet again to avoid a government shutdown, now is the time to address the root cause of the ...

The proposed update is set to impact how the carrying amounts of assets and liabilities are determined in a business ...

By Phil Brusk and Caleb Vahcic of Siegel Jennings Co. L.P.A. The seniors housing sector can’t seem to catch a break. Owners grappling with staffing shortages and other operational hardships lingering ...

Those figures were more or less in line with analyst expectations, despite the drops. On average, pundits tracking Leggett & Platt stock matched reality with a $1.1 billion revenue estimate, and came ...

In June the FASB voted 7-0 for the more targeted update, even as some expressed concerns about not going far enough to ...

GAAP provides standardized reporting for financial transparency, aiding investment comparisons. Public companies must follow GAAP as mandated by the SEC, aiding investor assessments. GAAP ensures ...

Investors and lenders rely on financial accounting to obtain critical information about the financial stability and risks of ...