Learn how Repo 105 allowed Lehman Brothers to hide debt during the financial crisis, what this accounting tactic involved, and how it prompted regulatory changes.

Countries and jurisdictions throughout the world mandate that entity financial statements be prepared using International Financial Reporting Standards, and that audits be conducted in accordance with ...

Like others, we've watched a slowly developing controversy over the question of whether accounting standards should be "principles-based" or "rules-based." When Sarbanes-Oxley was passed, it required ...

For the black-and-white reputation that accounting has, the profession allows transactions to be accounted for in many different ways. The preferred method of accounting for a transaction depends on ...

As a business owner, you understand that accounting has to be accurate, but you may not know why accounting standards – the rules with acronyms such as GAAP and IFRS – are such a big deal. If you were ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA ...

How do you improve the quality of financial reporting in countries switching from a planned to a market economy? Conventional wisdom suggests these countries should simply adopt high-quality ...

The IRS issued proposed regulations (REG-132766-18) on July 30 related to simplified tax accounting rules for small businesses and updating various tax accounting regulations to adopt the simplified ...

China's updated accounting regulations will classify data resources as intangible assets or inventories, boosting the country's digital economy. The inclusion of data assets on balance sheets offers ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. As a result of Covid-19 and the changing landscape related to leases, private companies have ...

Crypto imploded in 2022, as investors lost faith in digital assets and the industry was plagued with crisis. But unlike other collapses, it has largely avoided rippling into other markets. WSJ ...

The FASB, a U.S. private sector organization responsible for establishing financial accounting and reporting standards, approved the changes in its requirements concerning companies that report the ...