In early May, several pronouncements were issued by the Internal Revenue Service in connection with changes in accounting periods. The guidance reflects the continuing effort by the IRS to identify ...

The Internal Revenue Service and the Treasury Department announced changes Tuesday in the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders subject to ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

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 end of any accounting period is chaotic without the right procedures in place to ensure everyone has the right information and reports. Establishing set procedures for period-ending reporting ...

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 ...

Net income or loss represents the difference between a company's revenues and expenses during an accounting period. It may be a month, quarter or fiscal year, but a time frame in between is not ...

NEW YORK (MarketWatch) -- SWS Group Inc., the Dallas investment and financial-services holding company, said it probably would restate results for certain periods due ...

This paper investigates the effect of using an end-of-period accounting scheme for inventory-related costs when costs actually accrue in continuous time. Using a simple model, we show that (i) the end ...