In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

FASB and the IASB published for public comment a discussion paper on financial statement presentation. The paper contains an analysis of issues in financial statement presentation and presents the ...

Considerations in accounting for income taxes can include choice of method and classification of assets and liabilities.

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 ...

Quick tips to help you master the art of reading a financial statement Marguerita is a Certified Financial Planner (CFP), Chartered Retirement Planning Counselor (CRPC), Retirement Income Certified ...

The Financial Reporting Council (FRC) has issued a couple of updates that will affect some preparers and auditors.

Quarterly financial statements are required for publicly-traded companies, but private businesses may produce them as well. Quarterly statements for publicly- traded companies are not required by law ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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 ...