Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

Financial accounting is the process of recording and reporting your business’s income, expenses, assets and liabilities, often with the help of software. This information gives managers, owners and ...

Business owners often use accounting to measure their company's financial performance. Accounting is responsible for recording and reporting a company's financial transactions. While business owners ...

What Else Do Financial Records Include? Other than the most common line items found in financial statements, investors can also read the lesser known items, such as the footnotes, which often contain ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

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 ...

The Financial Accounting Standards Board released an accounting standards update Monday to clarify the interim effective date of its recently issued standard on disaggregation of income statement ...

Forbes contributors publish independent expert analyses and insights. Carrie Brandon Elliot analyzes international tax issues. This article is more than 3 years old. Money question, where to invest, ...