How to Prepare Budgetary Financial Statements. Similar to a balance sheet, a budgetary financial statement helps you determine whether your business is profitable. But unlike a balance sheet ...

Assessing your financial situation can help you understand your options for creating a steadfast financial future. To outline your finances, a personal financial statement can provide an overview ...

How to Make a Tax Return From Financial Statements. Financial statements are the annual record of a business's profit and loss for the year. They are usually divided into two parts: an income ...

Learn about profit and loss statements and how they help investors evaluate a company’s financial condition and prospects for future growth.

Learn how to read an income statement! This beginner's guide breaks down revenue, cost of revenue, gross profit, operating ...

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 ...

A statement of retained earnings shows the changes in retained earnings over time, often a year. Retained earnings are profits leftover after paying dividends.

A new FASB standard released Monday provides guidance for organizations on when and how to prepare financial statements using the liquidation basis of accounting. Accounting Standards Update (ASU) ...

Rebekah Smith, CFFA, CPA, CVA, Director of Financial Advisory Services, GBQ Consulting LLC When preparing your company’s financial statement, it may seem all too easy to lie about your numbers to make ...