The statements used in financial accounting cover the five main classifications of financial data or financial accounts, which are: Revenues and expenses are accounted for and reported on the income ...

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 ...

Accounting professionals are accustomed to complying with accounting standards. Generally accepted accounting standards set the guidelines for reporting financial transactions in the United States.

Are you able to get what you need from reviewing financial statements? Do you think there are ways to enhance the usefulness of the presentation of the information?If you have ever experienced ...

A company may set its competitive sights high to make money and make more of it over time, but it must heed its accounting cycle to ensure personnel follow stipulations top leadership has established.

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, ...

The American Institute of CPAs’ Accounting and Review Services Committee has issued an interpretation on reviews of financial statements. Accounting and Review Services Interpretation No. 1 to AR-C ...

An examination of the Pickens County Commission from the state revealed noncompliance with financial reporting requirements, possibly jeopardizing funding.