Today's market for professional liability insurance is similar to markets in other industries in that it reflects the changes that the profession is undergoing. As the profession evolves, so does the ...

Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...

In 1994, the Governmental Accounting Standards Board established standards for public employee pension plans. Government and public employers have to report and account for pension benefits ...

This is Part 3 of a three-part series discussing the basic components of a professional liability lawsuit brought against an accounting firm and its partners and factors a firm’s managing partner ...

Current liabilities are short-term business debts that are due to be paid before the end of the current fiscal year. These upcoming charges are reported on a company’s balance sheet. Current ...

The whole point of accounting is to present a precise financial picture of your business operations. By the accepted standards of the industry, financial accounting consists of five basic elements.

Question: I live in an age 55-plus resident-owned mobile home park governed by a cooperative association. A number of our retired folks have various trade skills and would like to volunteer for minor ...