FASB issued a proposed new chapter to its Conceptual Framework on Thursday that defines 10 elements of financial statements and seeks feedback from stakeholders. “The proposed new chapter of the ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. The proposed chapter, Concepts Statement No. 8, ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

FASB on Wednesday issued a new chapter of its Conceptual Framework related to the recognition and derecognition of an item in financial statements. The chapter, Chapter 5 of FASB Concepts Statement No ...

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

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

Discover the key differences between compiled and certified financial statements, including auditing, reliability, and ...