Financial statements include a balance sheet and an income statement, commonly referred to as a profit and loss statement. The balance sheet presents a company's assets, liabilities and equity as of a ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

Financial statements are essential tools used to analyze a company's performance. Management utilizes several techniques to determine a company's financial condition and make decisions regarding ...

Even sophisticated construction businesses can struggle to interpret their financial statements. In this industry, ...

A vertical analysis is used to show the relative sizes of the different accounts on a financial statement. For example, when a vertical analysis is done on an income statement, it will show the top ...

Spotting financial statement fraud is crucial. Learn key signs and detection methods to protect your investments from risky ...

The American Institute of CPAs’ Auditing Standards Board has issued a new auditing standard on internal control and an interpretation related to the sustainability financial statements used by the ...

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 ...

The AICPA Auditing Standards Board (ASB) issued an auditing interpretation Tuesday that permits an auditor to report on the basic financial statements of the U.S. government in accordance with ...