Financial statements give business owners insight into how their company is performing. It is crucial for a business owner to understand how to read a financial statement. Otherwise, the owner would ...

Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

There are four key financial statements your company may have: a balance sheet, income statement, cash flow statement and statement of owners' or shareholders' equity (retained earnings). A balance ...

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 ...

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 ...

FASB issued a proposed new chapter to its Conceptual Framework on Thursday that defines 10 elements of financial statements and seeks feedback from stakeholders. “The proposed new chapter of the ...

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

Launching a small business is hard. Keeping a small business running is even harder. One way entrepreneurs can ensure they are executing their business plan, meeting objectives and growing their ...

The AICPA Accounting and Review Services Committee (ARSC) voted Wednesday to issue an amendment clarifying that a CPA preparing financial statements as part of a consulting services engagement ...