The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

All publicly traded companies are required to release financial statements quarterly so investors can get a sense of how the business is doing. There are three main financial statements investors ...

A certified financial statement is one that has been reviewed and approved by a certified, independent auditor. Such statements are considered more reliable than unaudited statements and are mandatory ...

A smart business person understands that a company doesn't pay its bills with "profits." It pays them with cash. Profit is just an accounting term; cash is money. A company can show a profit and yet ...

The Private Company Financial Reporting Committee has given the Financial Accounting Standards Board feedback on its financial statement presentation project, including worries about newly onerous ...