The Financial Accounting Standards Board sets national accounting standards, called Generally Accepted Accounting Principles, for publicly traded companies in the United States. GAAP standards provide ...

The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. While it is convenient to ...

The American Institute of CPAs’ Financial Reporting Executive Committee has posted an early working draft of guidance on inventory valuation guidance, with a goal of eventually publishing a broader ...

Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations.

FASB has issued new financial reporting guidance that is designed to reduce the complexity related to the subsequent measurement of inventory. Accounting Standards Update No. 2015-11, Inventory (Topic ...