Discover the key differences between compiled and certified financial statements, including auditing, reliability, and ...

Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording ...

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

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 ...

Consolidated financial statements combine a parent company's information with one or more subsidiary companies to produce one master document. Investors, lenders or regulatory agencies often require a ...

The Governmental Accounting Standards Board released a new standard to improve the financial reporting for state and local ...

The accounting cycle tracks a transaction until it's added to your company's financial statement. Follow this eight-step ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

The December A&A Focus webcast reviewed FASB ASUs becoming effective for calendar year-end engagements and looked forward to 2026, delivered practical insights on determining lease terms under FASB ...

The Financial Accounting Standards Board issued an accounting standards update with guidance on accounting for government grants to business entities.