Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

Forbes contributors publish independent expert analyses and insights. Carrie Brandon Elliot analyzes international tax issues. This article is more than 2 years old. Money question, where to invest, ...

The Financial Accounting Standards Board released an accounting standards update Monday to clarify the interim effective date of its recently issued standard on disaggregation of income statement ...

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 ...

Businesses create financial statements to communicate the financial state of the business. The accountant prepares the financial statements on an accrual basis or on a tax basis. Accrual basis ...