On August 26, 2021, the Statutory Accounting Principles (E) Working Group (SAPWG) of the National Association of Insurance Commissioners (NAIC) directed a new “43R study group” to continue work on a ...

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

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 ...

The Financial Accounting Standards Board, FASB, is a private, independent organization that since 1973 has been given the authority by the U.S. Securities and Exchange Commission, or SEC, to establish ...

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 in Economics from The New School ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. When business owners spend money, they expect results.

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...