What is an independent audit? Auditors review and evaluate the standards used to prepare a company’s financial statements. An independent audit is conduct...

Should Replacement Reserves be Included in NOI? Conventional wisdom says no, replacement reserves should not be included in the NOI calculation. Additiona...

Scientists look at modern-day geologic events—whether as sudden as an earthquake or as slow as the erosion of a river valley—to get a window into past eve...

On account is an accounting term that denotes partial payment of an amount owed or the purchase/sale of merchandise or services on credit. On account can ...

To record an acquisition using the fair market value of assets and liabilities, with an entry to goodwill that records the difference between this total a...

Shareholder approval will only be required for issuances to a related party, and will not be required for issuances to 1) a subsidiary, affiliate, or othe...

If the fair market value of an asset increases, the company can increase the asset’s value in the balance sheet, which increases the retained earnings. If...

Interest expense is a nonoperating expense when it is not part of a company’s main operations. By reporting interest expense as a nonoperating expense, it...

To confirm that a CPA has an active license, you may contact the State Board of Accountancy where the individual obtained his or her license. This list of...

Which of the following is not one of the three forms of business organization? proprietorships and partnerships. partnerships. Which is not a type of busi...