Companies that comply with generally accounting principles, called GAAP, may opt to use the declining balance method to calculate depreciation on a particular asset or group of assets. The declining ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Managing the financial accounts for one company is tough. If your business invests in another business, keeping the books becomes even more complicated. If, say, you buy one of your suppliers, do you ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...