Company's typically prepare several financial statements that cumulatively show the financial position. They include the income statement, balance sheet, cash flow statement and owners' equity ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958 ...

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 ...

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, ...

U.S. law allows for four forms of business organizations: sole proprietorships, partnerships, limited liability companies and corporations. According to Corporate Finance Institute, a sole ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. David ...