Learn to report contingent liabilities under GAAP. Understand probability categories—probable, possible, remote—and how to ...

Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

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 starting a new business, owners must decide which type of entity, or business structure, to choose. The business entity choice determines how taxes are filed, what accounting methods to use and ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Business liability insurance protects the financial interests of companies and business ...

Interplay between the economic and accounting impact of new International Financial Reporting Standards (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments) is challenging the asset and ...