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

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 ...

Financial statements provide managers, shareholders and potential investors with the information they need to determine the financial health of an organization. The preparation of financial statements ...

Businesses commonly prepare condensed financial statements in addition to the traditional financial statements. Internal preparation of these documents serves several legal purposes and commonly ...

The issuance of a new standard in October 2014 has resulted in questions to the AICPA Center for Plain English Accounting (CPEA) regarding whether an accountant who performs bookkeeping services for ...

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 ...

Here's how to show changes in retained earnings from the beginning to the end of a specific financial period. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

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 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 ...

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