Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

Accounting is the compilation of financial information for various purposes, such as managing a corporate budget, making informed decisions with regard to business operations and predicting future ...

Accountants can use any one of three methods for calculating inventory value and cost to keep a business in compliance with accepted accounting standards. Each method can present different problems ...

Most businesses carry long-term and short-term debt, both of which are recorded as liabilities on a company's balance sheet. Business debt is typically categorized as operating versus financing.

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Investopedia / ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

The International Accounting Standards Board published a consultation document Wednesday with eight proposed illustrative examples showing how companies could apply International Financial Reporting ...

The Public Company Accounting Oversight Board's Investor Advisory Group is asking for examples of critical audit matters or key audit matters that can be used for analysis. The PCAOB's Office of the ...