The Financial Accounting Standards Board has issued an Accounting Standards Update aimed at improving financial reporting by clarifying when and how public and private companies and not-for-profit ...

The Company's Investment Policy was changed in January 2023 to pursue a Managed Wind-down strategy. Under US Generally Accepted Accounting Principles ("US GAAP") (the basis on which the Company ...

The American Institute of CPAs’ Employee Benefit Plans Expert Panel has developed some new practice aids to provide nonauthoritative guidance about the effects of recent accounting standards relating ...

An entity is required to prepare financial statements on the “liquidation basis” of accounting if liquidation is imminent. However, no guidance was available on application of liquidation basis.

The way you close your business depends on the nature of the business. You can close a sole proprietorship whenever you wish. However, certain protocols must be followed if you own a limited liability ...

Borders is adding up the losses, and a few profits, for its last monthly operating report to be submitted before the liquidation of its bookstores begins. During the period between May 29 and June 25, ...