New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. The proposed chapter, Concepts Statement No. 8, ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an audited statement and why it matters can help you gain confidence with ...

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 ...

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 ...

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 ...