Understanding cash flow statements is important because they measure whether a company generates enough cash to meet its operating expenses.

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 ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. David ...

Similar to a balance sheet, a budgetary financial statement helps you determine whether your business is profitable. But unlike a balance sheet, budgetary financial statements rely on average expense ...

Businesses commonly prepare condensed financial statements in addition to the traditional financial statements. Internal preparation of these documents serves several legal purposes and commonly ...

The issuance of a new standard in October 2014 has resulted in questions to the AICPA Center for Plain English Accounting (CPEA) regarding whether an accountant who performs bookkeeping services for ...

On March 1, 2017, the United States Securities and Exchange Commission (SEC) published the taxonomy for the eXtensible Business Reporting Language (XBRL) for financial statements prepared in ...

Reliance Industries has dozens of unlisted companies. TCS has about seven in India. Preparing financial statements for the ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...