The Financial Accounting Standards Board released a long-awaited accounting standards update Wednesday to improve the financial reporting for insurance companies that issue long-duration contracts, ...

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FASB will consider targeted changes rather than a significant overhaul of U.S. GAAP’s financial reporting requirements for insurance contracts. The board voted Wednesday to consider potential targeted ...

While not perfect, generally accepted accounting principles are considered the gold standard of accounting rules. Corporations throughout the country use GAAP to prepare their financial statements.

Have There Been Benefits to the Convergence Process? Gven this background, the purpose of this discussion is twofold: to provide a review of the events surrounding the convergence movement over the ...