Business bookkeeping gets very complex, with divisions and subsidiaries requiring their own set of accounts. When the business accounting records are established, every account is titled and assigned ...

For accountants who have clients with multiple entities, one of the biggest bottlenecks occurs in multi-entity consolidation. This challenge is especially pronounced in one sector in particular: ...

LONG ISLAND, N.Y. — Starting a business can be both exciting and daunting, and while the potential upside can seem promising, the path for a startup may be packed with pitfalls, especially those that ...

When starting a new business, owners must decide which type of entity, or business structure, to choose. The business entity choice determines how taxes are filed, what accounting methods to use and ...

A new accounting standard issued Thursday amends accounting rules for recognition of U.S. federal agencies’ inter-entity costs. The Federal Accounting Standards Advisory Board (FASAB) issued Statement ...

The FASB decided in February to direct the FASB staff to draft a final Accounting Standards Update that will eliminate the special accounting treatment for development stage entities. The final update ...

On November 18, the SEC’s Division of Corporation Finance and the Office of the Chief Accountant (the Staff) rescinded Topic 5.J. of the Staff Accounting Bulletin Series. Topic 5.J. required an SEC ...

The Federal Accounting Standards Advisory Board (FASAB) proposed to change lease accounting for federal government entities. The proposal would include a comprehensive set of lease accounting ...