Discover what goodwill in accounting means, how to calculate it, and its role during acquisitions. Learn about goodwill ...

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 ...

Now known as Accounting Standards Code Topic 820, FAS 157 is the Financial Accounting Standards Board (FASB)’s fair value accounting standard.

Definition of Entity in Accounting. Accounting is full of terms that accountants and other financial professionals must understand to do their jobs well. For accounting purposes, an "entity" is a ...

Definition of Accounting Estimates. Financial statements provide investors and analysts with information about a company's ability to manage its financial transactions and build value in the ...

Accrual accounting is the GAAP-preferred practice of recording all revenues and expenses when they occur, even if payment has not yet been sent or received. In business, all financial transactions ...

Goodwill in accounting and investing is a term used to describe intangible assets that don't appear in hard numbers on a balance sheet. These can include a host of things that companies tend to ...

The Revenue Definition and Recognition section of OUC's Accounting Handbook provides guidance on revenue accounting for CU. The first task in identifying revenue is to look at every dollar received ...