The income statement provides significant information about the financial and operational health of a business. It provides details about revenue, expenses and profits and the margins associated with ...

Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the ...

Every business has an accountant who prepares financial statements on a regular basis. Management, creditors and stockholders use these statements to gauge the performance of the company and make ...

Understanding financial statements plays a key role in building robust financial models that can impact the potential valuation of your company. The Fast Company Executive Board is a private, ...

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 ...

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 ...

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 ...

Forbes contributors publish independent expert analyses and insights. I am the Kester and Brynes Professor at Columbia Business School and a Chazen Senior Scholar at the Jerome A. Chazen Institute for ...

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 ...