The most important financial reporting period is the current period the company is reporting on. Business leaders want to ...

Financial statement assertions are a company's stamp of approval that the information in its financial statements is a true representation of its financial position.

Financial statement fraud is just what it sounds like – falsifying balance sheets, income statements and cash-flow statements to fool the people who read them. The fraudster may be out for ...

It can be tough for business owners to find or make the time to read financial statements – the income statement, the balance sheet and the statement of cash flows.

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

Each financial statement can show potential problems or areas of weakness that are not evident in the other statements. Take a look to learn more about the format of financial accounting statements.

The information found on the financial statements of an organization is the foundation of corporate accounting. Also referred to as the statement of financial position, a company's balance sheet ...

Recognition concepts encompass the measurement focus, which determines what items should be reported in a financial statement, and the related basis of accounting, which determines when those items ...

An audited financial statement is an independent, objective evaluation of a company’s financial records by a certified public accountant (CPA). When a CPA firm audits financial statements, it ensures ...