This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

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

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

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, ...

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 ...

Companies prepare the balance sheet and the income statement periodically at the end of each accounting cycle. While a balance sheet relates to a specific date, or a given point within an accounting ...

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 ...