The Financial Accounting Standards Board released a new chapter of its Conceptual Framework on the measurement of items recognized in financial statements, while also drawing that long-running project ...

The Financial Accounting Standards Board has added two new chapters to its Conceptual Framework. “The new chapters of the Conceptual Framework address two important areas of financial reporting: ...

Every business owner needs to have at least a rudimentary understanding of accounting theories and principles. Understanding your books and what various accounting reports represent helps you ...

Positive accounting theory explains real-world accounting choices influenced by management's financial goals. It generates hypotheses like managers aligning accounting methods to secure bonuses or ...