How Should a Change in Accounting Principles Be Recorded and Reported?

Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording ...

Accounting Measurement: Understand Definitions, Types, and Principles

Learn how accounting measurement quantifies economic activities, enabling better business analysis and comparison through ...
Houston Chronicle

Objectives of Accounting Principles

Financial accounting principles shape the recording of nearly every business transaction in the business world. The creation of these principles is no small task and can sometimes seem nearly ...
The Motley Fool

What are Generally Accepted Accounting Principles (GAAP)?

GAAP ensures public companies report finances consistently for clear investor comparisons. GAAP adherence is mandated by the SEC, crucial for comparing financial performance. Understanding GAAP helps ...
Accounting Today

Lease accounting: Principles-based or just an agreement in principle?

Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...
Houston Chronicle

Examples of Accounting Problems With T-Accounts

T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...
NerdWallet

GAAP: What Are ‘Generally Accepted Accounting Principles’?

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...