In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

The UK Senior Accounting Officer (SAO) regime was brought in by the Finance Act 2009 and requires large companies and groups to identify the individual who is responsible for certifying to the UK tax ...

The International Accounting Standards Board has published a proposed set of changes in the accounting standards for financial liabilities to address what it calls the counter-intuitive effects of ...

Tax reform, advances in both technology and the capabilities of hackers, and a host of other developments are creating lots of new liability risks for accountants. Deb Rood, risk control consulting ...

Asset management is an integral part of accounting basics that deals with the monitoring and maintenance of valuable items owned by an individual or an entity. Assets contribute significantly to the ...

When investing, assessing a company’s assets and liabilities is a basic requirement to determine what the company is worth. Thankfully, public companies file their financial statements with the ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

An understatement in accounting refers to business assets given a valuation lower than their fair market value or a devaluation of liabilities to less than their actual cost. Either results in an ...

Balance Sheet Liabilities Continue to Climb for Private Companies Amid Lease Accounting Transition – New LeaseQuery Report Lease liabilities rose 419% on average, with 10 industries seeing bigger ...