When a company decides to discontinue a segment of its business, it must account for the income or loss from that segment as a discontinued operation. Discontinued operations are reported separately...
Category: Intermediate Accounting
Comprehensive income is a concept in accounting that refers to the change in a company's equity during a period, resulting from transactions and events outside of the company's ordinary operations....
The capital maintenance concept is an accounting principle that establishes how a company should determine and maintain its capital or equity. It is an essential concept in financial reporting as it...
International Financial Reporting Standards (IFRS) is a set of accounting standards developed by the International Accounting Standards Board (IASB) to provide a globally recognized framework for...
Depending on a variety of accounting treatments, several different methods can be used for measuring elements on the balance sheet. These methods are used to determine the value of assets,...
The Demand for Accounting Information: Meeting the Needs of Investors and Creditors
As you begin your studies in intermediate accounting, one of the key concepts you'll learn about is the demand for accounting information. Here, we'll take a closer look at how companies meet the...