Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

Learn 12 essential things about financial statements that investors need to know. These insights can guide smarter investment ...

The Governmental Accounting Standards Board released a proposed concepts statement to guide GASB when establishing note disclosure requirements for state and local governments. The proposal is part of ...

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 ...

A financial statement expresses the value of an enterprise by listing and evaluating its parts. In the process, the statement sets forth as accurately as possible each asset and liability. Determining ...

A business transaction, such as obtaining financing, often requires companies to provide financial statements that have been evaluated by an outside independent party. Accountants are outside parties ...

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 ...