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 ...

Tax returns and compiled financial statements give a financial breakdown of a business for investors, lenders and shareholders. Despite containing similar information, these two methods of financial ...

The AICPA Accounting and Review Services Committee (ARSC) voted during its meeting this month to approve clarified and revised standards for reviews, compilations, and engagements to prepare financial ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

Discover the basics of account statements, including definitions, uses, features, and examples, to manage finances ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an audited statement and why it matters can help you gain confidence with ...

Even sophisticated construction businesses can struggle to interpret their financial statements. In this industry, ...

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 ...