The International Public Sector Accounting Standards Board, the governmental standard-setting unit of the International Federation of Accountants, has issued a statement that, for the first time, ...

Related-party transactions have played a significant role in accounting failures and frauds. In a study of Securities and Exchange Commission fraud allegations by the Committee of Sponsoring ...

The Financial Accounting Standards Board issued a proposed accounting standards update Wednesday offering guidance for debt exchange transactions involving multiple creditors. The proposed ASU stems ...

FASB on Wednesday published a proposed Accounting Standards Update (ASU) on debt exchange transactions involving multiple creditors. The proposed ASU, based on a recommendation of FASB’s Emerging ...

On the Exchange Transactions web page the definition of an exchange transaction is provided along with details and examples. This page contains information on what Drexel University and the Academy of ...

Generally accepted accounting principles, or GAAP, include specific guidelines for recording foreign currency transactions. Problems can arise when currencies change value and routine business ...

Accountants record transactions between buying companies and selling companies differently depending on when the transfer of purchased goods actually occurs. Which company pays for shipping charges to ...

The question of how to account for digital assets has emerged as a challenging one for accountants as use of these assets becomes increasingly common. Although accounting for exchange-traded digital ...

American multinational healthcare product company Baxter International agreed to pay $18 million as part of a settlement with the Securities and Exchange Commission for accounting violations related ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...