Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

Discover the synergy between income statements, balance sheets, and cash flow statements for a full analysis of a company's financial health and performance.

A statement, in accounting terms, is synonymous with "report." There are several common accounting statements, all of which draw on the same accounting data but which are prepared for different ...

Unrealized gain is an income statement category reserved for investment income that a company expects to receive in the future. Think of it as money on paper rather than cash in the bank. When the ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses, and net ...

IFRS 18 does not change the accounting rules for recognising revenue, valuing assets or measuring expenses. Instead, it changes the layout and discipline of financial reporting.

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 ...

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 ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

Rules for accounting for income taxes would be simplified under a proposal issued Tuesday by FASB that is designed to reduce cost and complexity. The proposed Accounting Standards Update would remove ...