Understanding the information contained in your balance sheet, income statement, statement of retained earnings and statement of cash flows is crucial for your business to survive. These four ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an ...

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 ...

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 ...

Audited financial statements require CPA verification and provide high assurance. They're used for SEC compliance, major bank loans, investor funding and more.

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 ...

“I am a people person; therefore I am not a numbers person.” We hear this all the time in the human resources world and encourage overcoming the “fear” of numbers to achieve career growth. The United ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

Peter Gratton, Ph.D., is a New Orleans-based editor and professor with over 20 years of experience in investing, risk management, and public policy. Peter began covering markets at Multex (Reuters) ...

GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note ...