Expenses are the costs of doing business to gain revenues, and they are accrued when they are incurred but not paid in the same period. Since the expense still applies to the period it was incurred, ...

This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. The Financial Accounting Standards Board published new rules ...

Each year, generally in March or April, commercial tenants with pass-through costs included in their lease agreements, receive from the property owners the Annual Operating Expense Reconciliation ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses, and net ...

GASB on Wednesday issued a proposed concepts statement addressing recognition of financial statement elements as well as a call for feedback on preliminary views on revenue and expense recognition ...

Depreciation spreads the cost of tangible assets over their useful life on income statements. Each year, $1,500 is recorded as a depreciation expense, reducing the asset's book value. Amortization and ...