The Financial Accounting Standards Board, which sets the rules for business accounting in the United States, says the objective of financial reporting is to provide current and potential investors and ...

The financial statements for all for-profit companies serve the same purpose -- to provide owners and management with an overview of the company's financial and operational health. The structure of ...

FASB issued a new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. Chapter 6 of FASB Statement of Financial Accounting Concepts No. 8, ...

The International Auditing and Assurance Standards Board has finalized the changes in its standard for auditor reporting on special purpose financial statements. Processing Content The IAASB, which ...