If you’ve ever looked at a company’s financial statement and felt lost in the numbers, you're not alone. Terms like revenue, ...

The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

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, ...

While all financial statements prepared by accountants are connected in some way to profits, the income – or profitability – statement is the one that provides the most details of revenues and ...

A financial statement is one of several different accounting documents that provides specific information about one area of a business and its performance. The three main financial statements for a ...

Intuition and ambition can spark a business, but they’re not enough to sustain one. To make sound decisions, owners need a ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

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 ...

Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. She is the CEO of ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...

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 ...