Understanding cash flow statements is important because they measure whether a company generates enough cash to meet its operating expenses.

Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Similar to a balance sheet, a budgetary financial statement helps you determine whether your business is profitable. But unlike a balance sheet, budgetary financial statements rely on average expense ...

Financial statements present businesses with a broad view of their operational and financial health. Consolidated financial statements provide the same for combined companies as though they were all ...

Accountants in public practice who prepare financial statements for clients will find significant changes in new standards for accounting and review services that were issued in October. Statement on ...

The balance sheet and income statement of a bank's financial statements contain unique characteristics that can help you decipher how banks make money.

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. There are a number of types of accounting, serving a wide ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

The American Institute of CPAs' Accounting and Review Services Committee clarified a standard on financial statement preparation as part of a client advisory services engagement. The new Statement on ...

On March 1, 2017, the United States Securities and Exchange Commission (SEC) published the taxonomy for the eXtensible Business Reporting Language (XBRL) for financial statements prepared in ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...