Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

There are four primary financial reports a business must issue at the end of its fiscal period, and their purposes vary based on content and applicable regulations. This quartet of financial data ...

Company's typically prepare several financial statements that cumulatively show the financial position. They include the income statement, balance sheet, cash flow statement and owners' equity ...

Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958 ...

FASB outlined a major overhaul of GAAP related to mergers and acquisitions when it issued Statement no. 141 (revised), Business Combinations , in December 2007. The standard is effective for fiscal ...

Spring is here. The Easter bunny is on his or her way as Easter approaches. Get those kites decorated! Meanwhile, millions of publicly traded companies (those operating on a calendar year) across the ...

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 ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

Learn about accounting interpretations, why they matter, and how they clarify standards, prevent errors, and provide consistency in financial reporting.

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...