There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

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 ...

LONDON – A global accounting standards body aims to revamp how companies present financial information to give investors a clearer picture of performance. The International Accounting Standards Board ...

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 ...

The way Indian companies present their profit and loss statements is set for a makeover, one that could provide investors with a clearer picture of what’s driving profits and where the money goes. The ...

KARACHI: The State Bank of Pakistan (SBP) has decided to amend the existing format of annual financial statements of banks and issued a new format for to preparation of annual accounts. In terms of ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...