Banks transitioned to using the Secured Overnight Financing Rate-based benchmark after LIBOR was phased out in the wake of a ...

Nearly 40 years ago, the esteemed accounting professor Yuji Ijiri suggested that fairness is one of the most essential concepts in accounting and asked how to ensure a fair information flow system. In ...

The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial ...

With the emergence of International Financial Reporting Standards (IFRS), most discussion of the proposed convergence of U.S. generally accepted accounting principles, or GAAP, and IFRS standards has ...

The Financial Accounting Standards Board posted a proposed accounting standards update to improve interest rate risk hedging ...

FASB published two Accounting Standards Updates recently. One is intended to improve accounting guidance for interest rate risk hedging and net investment hedging, and the other relates to guidance ...

This article was updated with additional reporting at 5:20 p.m. Eastern. If the thought of organizing your business financial statements gives you a headache, announcements from two leading U.S.

The Financial Accounting Standards Board recently introduced a significant update to the accounting standards for certain crypto assets, like bitcoin. This update, known as the Accounting Standards ...

Current IASB chair Andreas Barckow's term ends on June 30, but his final successor isn't expected to be installed until Oct.

If you are the owner of a private company, this is the year you will need to change your accounting framework for the fiscal year following Dec. 31, 2010. Instead of using Canadian generally accepted ...