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 ...

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

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

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 ...

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 ...

Retainage has always lived in that gray area between revenue earned and cash actually in hand, but under Topic 606, that gray ...

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 ...