The following article is based on a chapter from Aswath Damodaran's book Investment Fables. Everyone loves a good bargain! Who doesn't enjoy finding something they wanted on sale? But much like the ...

In our recent article on the flaws in return on equity, we showed how it has no correlation with several different measures of valuation. However, there is one valuation metric, price-to-book (“P/B”), ...

Luca Pacioli’s groundbreaking text on bookkeeping, accounting and mathematics, Somma di arithmetica, geometria, proporzioni e proporzionalità, also known as the Summa de Arithmetica, sold for ...

Discover the crucial eight steps of the accounting cycle for accurate financial reporting and why they matter in business.

A cash book, or petty cash log, is a ledger for keeping track of small cash purchases. Some small businesses such as restaurants find cash books especially useful because these companies tend to need ...

The IRS has provided procedures (Rev. Proc. 2018-60) under which a taxpayer may obtain automatic consent to change a method of accounting to comply with Sec. 451(b), as amended by the law known as the ...