In accounting, net worth is defined as assets minus liabilities. Essentially, it is a measure of what an entity is worth. For an individual, it represents the properties owned, less any debt the ...

The Financial Accounting Standards Board has released guidance aimed at clarifying the official definition of a “business” for purposes of the accounting rules. The new accounting standards update ...

Accounting for turnover is often a useful practice in small-business management. Turnover is simplistic, but it provides a straight-forward way of assessing the efficiency of a business.

The American Accounting Association is calling on the Department of Education to reverse course after proposing to remove ...

Now that the various classifications of revenue have been defined, it is important to identify what is revenue. Identifying what qualifies as revenue is critical not only from an accounting and ...

The Financial Accounting Standards Board has issued a new Accounting Standards Update to address growing confusion over what ...

A Department of Education proposal does not include accounting in its list of professional degree programs, a designation ...

In recent public discourse, confusion has arisen around the concept of wealth—particularly in distinguishing between accounting, economic, and social definitions. I therefore wish to clarify these ...

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) providing official guidance ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in ...