Even a small business makes transactions that are too trivial to bother accounting for. If the debit side of your trial balance is $5 more than the credit side, you might determine that this ...

Several columns back, we wrote about a recent report from the CFA Institute called A Comprehensive Business Reporting Model: Financial Reporting for Investors. This monograph is the long-awaited ...

The concept of materiality in the AICPA Professional Standards has been amended to match the description used by other standard setters and regulators in the United States. Under new standards issued ...

Sustainable investors and sustainability-oriented issuers face an asset class data gap. Sustainability standards setters have designed frameworks for public equities because to date, most ESG data and ...

The concept of materiality was defined more precisely for federal government entities in an accounting standard issued Monday by the Federal Accounting Standards Advisory Board. The guidance is ...

In the accounting profession, the concept of materiality in financial reporting comes from two distinct areas: Generally accepted accounting principles (GAAP), and generally accepted auditing ...

As we prepare for the replacement of SAS 70 by SSAE 16, articles and vendor whitepapers are flooding the landscape. Processing Content These documents typically provide only cursory descriptions of ...

Representations and warranties play an important role in M&A agreements by providing valuable disclosures and allocating risks between the parties. Representations regarding the target company’s ...