It's no secret that proper financial planning is key to a successful future. But what many people don't know is what happens to their tax liability with a well-thought-out plan. For example, what ...

Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording ...

The Financial Accounting Standards Board has decided to tweak some of its standards related to contract assets and liabilities for construction contractors in response to recommendations from its ...

Learn why airlines adjust revenues for air traffic liability under accrual accounting and how this impacts financial ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

The Financial Accounting Standards Board’s (FASB) recent lease accounting standards (ASC 842) are impacting toll agreements for stand-alone ...

The labour codes mandate that at least 50% of an employee's total remuneration must be treated as wages, the basis for ...