FAQs tagged as

Financial Accounting Standards Board

  1. How do businesses determine if an asset may be impaired?

  2. How is market to market accounting different than historical cost accounting?

  3. Why does financial accounting have to comply with GAAP?

  4. What are the FASB guidelines surrounding revenue recognition?

  5. How is accounting in the United States different from international accounting?

  6. How does a company derecognize a deferred tax liability?

  7. How does the Fair Accounting Standards Board (FASB) regulate deferred tax liabilities?

  8. How does financial accounting help decision making?

  9. What are the official FASB guidelines regarding contingent liabilities

  10. How does financial accounting differ from managerial accounting?

  11. How do investors and lenders benefit from financial accounting?

  12. How does the Fair Accounting Standards Board (FASB) establish accounting protocol?

  13. What are the objectives of financial accounting?

  14. Who is eligible to hold a deferred tax asset?

  15. What are some examples of ways businesses can use a deferred tax asset?

  16. How can I calculate the times interest earned in Excel?

  17. Why do businesses calculate accrued expenses?

  18. What's the difference between return on sales (ROS) and operating margin?

  19. When and why were GAAP first established?

  20. Who enforces GAAP?

  21. How is a deferred tax asset taxed?

  22. What kind of financial reporting requirements does GAAP set out?

  23. Why does GAAP require accrual basis rather than cash accounting?

  24. What is the difference between GAAP and IFRS?

  25. How does goodwill amortize?

  26. What are the primary goodwill accounting rules to be aware of?

  27. What is the difference between goodwill and tangible assets?

  28. What are the differences between comprehensive income and other comprehensive income?

  29. How should an accountant correctly record and report a change in an accounting estimate?

  30. What is the difference between IAS and GAAP?

  31. What is the difference between principles-based accounting and rules-based accounting?

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