Trump's $250M fraud trial hinges on whether he followed generally accepted accounting principles. In an effort to keep our readers awake, we asked two accountant-comedians to explain the wonkiness.

GAAP, which stands for generally accepted accounting principles, is the set of accounting standards followed by most U.S. businesses, not-for-profit organizations, and state and local governments, as ...

When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

GAAP accounting stands for generally accepted accounting principles. These principles are a set of standardized rules that accountants use. Companies that sell public stock and release financial ...

Editor’s Note: Lee Hodge is a member of the Business Practice Group at Ward and Smith, P.A. What is Changing? The U.S. Securities and Exchange Commission ("SEC") has announced a proposed timetable for ...

Generally accepted accounting principles are a set of 10 accounting standards and guidelines created and maintained by the U.S. Financial Accounting Standards Board. Since the FASB established GAAP ...

Explore OCBOA, a flexible non-GAAP accounting framework that includes tax-basis, cash-basis, and statutory accounting, offering an easier, cost-effective alternative for financial statements.

Prompted by federal regulators, Tesla urged its numbers crunchers to do their work a bit differently last year. Alarmed by publicly traded companies’ increasing ways to be creative with their income ...