Michelle P. Scott is a New York attorney with extensive experience in tax, corporate, financial, and nonprofit law, and public policy. As General Counsel, private practitioner, and Congressional ...

The statements used in financial accounting cover the five main classifications of financial data or financial accounts, which are: Revenues and expenses are accounted for and reported on the income ...

The IRS often determines upon audit that a business has over a period of years failed to report properly items of income or expense. In that case, the ability of the government to assert additional ...

The U.S. Financial Accounting Standards Board (FASB) member Frederick Cannon said Thursday he supports recording companies’ crypto gains and losses as part of their net income, according to a report ...