Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...

Cost accounting is a specialized branch of managerial accounting that provides detailed information about each individual direct and indirect cost incurred on the production line in relation to the ...

Discover the differences between absorption and variable costing methods, how they impact financial statements, and why GAAP ...

Management accounting techniques break costs into two major cost classifications, product costs, which relate to manufacturing, and period costs, which are all non-manufacturing costs. Product costs ...

There are four basic concepts that guide the process of developing sponsored project budgets as defined in 2 CFR 200, Uniform Guidance. These four concepts are used to determine if costs may be ...

Cost accounting is an essential activity for laboratory animal facility management. Reasons for carrying out cost accounting include establishing the actual costs of facility operations; assessing ...

Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. This is the third article in a multi-part ...

When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...