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

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 ...

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 ...

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 ...

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 ...

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 ...

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.

Fraud is a serious concern that can have devastating consequences. With uncertainty about the economy — be it a recession, a soft landing, or something else — there may be no better time than now to ...