Audited financial statements require CPA verification and provide high assurance. They're used for SEC compliance, major bank loans, investor funding and more.

Corporations must prepare and release several financial reports each year, according to the U.S. Securities and Exchange Commission. Two of these reports are the cash flow statement and the statement ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

A financial statement has four components: balance sheet, income statement, cash flow statement and statement of shareholders' equity. The balance sheet is a statement of what the business owns and ...

Small business owners must deal with numerous accounting reports to monitor their business’s finances and ensure its financial health. Profit and loss statements, accounts receivable aging reports and ...

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 AICPA Accounting and Review Services Committee (ARSC) voted Wednesday to issue an amendment clarifying that a CPA preparing financial statements as part of a consulting services engagement ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. There are a number of types of accounting, serving a wide ...

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 ...