Clarified and revised standards for compilations and engagements to prepare financial statements released Thursday create a bright line between accounting (preparation) and reporting (compilation) ...

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 ...

Accountants with businesses big and small normally compile financial statements each quarter. The statements paint a picture of all of the company's transactions. First, the company will record the ...

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 ...

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

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 ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an audited statement and why it matters can help you gain confidence with ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...