Certified financial statements are accounting statements that have been certified by an independent accounting firm. Learn ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...

Spring is here. The Easter bunny is on his or her way as Easter approaches. Get those kites decorated! Meanwhile, millions of publicly traded companies (those operating on a calendar year) across the ...

There are four primary financial reports a business must issue at the end of its fiscal period, and their purposes vary based on content and applicable regulations. This quartet of financial data ...

ALLOCATION - The assignment and reassignment of a cost or group of costs to one or more cost objectives based on a reasonable standard. Terms with assorted shades of meaning are cost reallocation, ...

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.

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...

Every February and August, business news sites are full of headlines about company reports and “earnings season”. That’s because in Australia, most companies have a reporting period ending June 30 – ...

Under accounting rules, a business must list direct costs in a statement of profit and loss, but these charges also interrelate with other financial data summaries. These include a statement of ...

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 ...

FASB outlined a major overhaul of GAAP related to mergers and acquisitions when it issued Statement no. 141 (revised), Business Combinations , in December 2007. The standard is effective for fiscal ...