This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Accountants with businesses big and small normally compile financial statements each quarter. The statements paint a picture of all of the company's transactions. First, the company will record the ...

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

The income statement summarizes sales, expenses and profits for an accounting period. Expenses include cost of goods sold, operating and non-operating expenses, and unusual expenses. Operating ...

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 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 ...

The Financial Accounting Standards Board released an accounting standards update Monday to clarify the interim effective date of its recently issued standard on disaggregation of income statement ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Complementing the balance sheet and income statement, the cash flow statement, a mandatory part of a company's financial reports since 1987, records the amounts of cash and cash equivalents entering ...