The reason for this is that the Financial Accounting Standards Board (FASB) has set standards for Generally Accepted Accounting Principles (GAAP). One of those standards is neutrality. You can ...

Private and governmental entities use separate accounting standards to create their financial statements and manage their funds. Without knowing the differences between the standards, it is harder ...

The passthrough entity tax/state and local tax deduction remains a priority for the AICPA. The budget bill now being considered by the Senate does not allow certain service-based businesses to deduct ...