Learn how the lower of cost or market (LCM) method helps value inventory accurately by using the lesser of historical cost or market value, key for GAAP compliance.

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...

The post White House Eases Cost Accounting Rules appeared first on Self Employed.

Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

Basic accounting principles form guidelines that govern the preparation of financial reports. These guidelines provide a comprehensive framework for classifying, recording, presenting and interpreting ...

The concepts of allowability, allocability, and reasonableness of costs address directly the legitimacy of a cost charged against a specific sponsored research award. Determination of allowability, ...

Cost accounting is an essential activity for laboratory animal facility management. Reasons for carrying out cost accounting include establishing the actual costs of facility operations; assessing ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...