Tax reform, advances in both technology and the capabilities of hackers, and a host of other developments are creating lots of new liability risks for accountants. Deb Rood, risk control consulting ...

In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Ryan Eichler holds a B.S.B.A with a concentration in Finance from Boston ...

An understatement in accounting refers to business assets given a valuation lower than their fair market value or a devaluation of liabilities to less than their actual cost. Either results in an ...

In 1994, the Governmental Accounting Standards Board established standards for public employee pension plans. Government and public employers have to report and account for pension benefits ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...