Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

The balance sheet and income statement of a bank's financial statements contain unique characteristics that can help you decipher how banks make money.

The Financial Accounting Standards Board proposed an accounting standards update Monday to give investors more information about a company's expenses. The proposal would require public companies to ...

Businesses create financial statements to communicate the financial state of the business. The accountant prepares the financial statements on an accrual basis or on a tax basis. Accrual basis ...

Companies are required to report their earnings in accordance with generally accepted accounting principles (GAAP). They are also required to report their earnings to the IRS and pay taxes as ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

Cash flow is, understandably, one of a company’s most significant concerns. To stay on top of this vital financial metric, business owners rely on accurate, consistent cash flow statements. These ...