A partnership is one of the entities that is generally required to adopt a particular accounting period as specified under the regulations.1 A partnership’s accounting period is determined by ...

The AICPA issued a technical question and answer (TQA) Thursday to help financial statement preparers account for the amount a partnership pays the IRS for previous underpayments of tax, interest, and ...

As the number of large partnerships involving 100 or more direct partners continues to grow, the Internal Revenue Service is taking a closer look at them, according to a new government report. The ...

Regardless of the type of company you run, the same basic accounting equation applies: The value of your company's assets is equal to its total liabilities plus the owners' equity in the firm.

Accounting principles and procedures are relevant to all business activities, regardless of the type of business entity or the form of enterprise. Two of the most common forms of business enterprises ...