Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

Consumers are most likely to encounter balloon-type debt in the form of balloon mortgages. If you have a balloon mortgage, you make relatively small monthly payments. At the end of the repayment ...

Liabilities are the debts and obligations that detract from a company’s total value, which have to be paid over a certain period of time. The form of the debt can vary – common examples include ...

The Financial Accounting Standards Board has issued a proposed standard on the fair value measurement of liabilities, seeking to clarify the thorny issue of fair value a bit further. FASB approved ...

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 ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

Financial statement preparers would receive specific guidance on when to apply modification accounting under a new FASB proposal. Proposed Accounting Standards Update, Compensation—Stock Compensation ...

Interplay between the economic and accounting impact of new International Financial Reporting Standards (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments) is challenging the asset and ...

Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Khadija Khartit is a strategy, investment, and funding expert, and an ...