Businesses report their financial health for the sake of investors and creditors. Because businesses report to external stakeholders, they must prepare their reports according to the generally ...

The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

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 ...

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 ...

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, ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. As the chief operating officer at a firm specializing in financial and accounting services, ...

A financial report, statement or declaration is a sworn affidavit that is submitted to the court system during a legal proceeding. Regardless of the name used for the document, these reports must ...