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

The Financial Accounting Standards Board, which sets the rules for business accounting in the United States, says the objective of financial reporting is to provide current and potential investors and ...

Small business owners spend considerable time soliciting customers and managing employees. But the long-term objective is to make a profit and grow the company. A major responsibility of the manager ...

Financial statements are key to understanding the underlying drivers of a business—i.e., how your business is growing, what the margin profile is, how much cash it is generating and using and from ...

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note ...

The International Auditing and Assurance Standards Board has finalized the changes in its standard for auditor reporting on special purpose financial statements. Processing Content The IAASB, which ...