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

Discover the hidden details in financial footnotes essential for interpreting income statements, balance sheets, and cash ...

Accounting professionals are accustomed to complying with accounting standards. Generally accepted accounting standards set the guidelines for reporting financial transactions in the United States.

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...

Businesses create financial statements to communicate the financial state of the business. The accountant prepares the financial statements on an accrual basis or on a tax basis. Accrual basis ...

Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

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 ...

Recently, I introduced the concept of comparing financial statements to flight instrumentation in the cockpit of an airplane. As business owners, it is our responsibility to assure that our business ...