"Uncertainty" in accounting refers to the difficulty of predicting outcomes because of limited or inexact knowledge. Financial statements often contain estimates and other information based on ...

In accounting, net worth is defined as assets minus liabilities. Essentially, it is a measure of what an entity is worth. For an individual, it represents the properties owned, less any debt the ...

FASB clarified the definition of a business in an effort to help financial statement preparers evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or ...

FASB clarified the definition of a business Thursday in an effort to help financial statement preparers evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets ...