Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

External audits focus on whether and how well a business's financial statements adhere to generally accepted accounting principles, or GAAP. The objective of GAAP is to standardize and regulate ...

This Opinion piece appears in the June 29 print edition of Transport Topics. Click here to subscribe today. Finding quality financing for trucks and trailers recently has become more difficult for ...

Generally accepted accounting principles, or GAAP, essentially impact every item on a qualifying financial statement. Most companies and organizations follow GAAP when creating financial statements.

U.S. GAAP is a rules-based accounting standard that, some critics have argued, is not flexible enough to accurately reflect companies’ financial performances. Due to GAAP’s rigid requirements, and ...

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 ...

Consolidating financial statements for multinational companies can be a very complex process, especially while dealing with cross-border counterparts. To get the flow in place, let us assume, for ...

In their Corporate Governance Update, David A. Katz and Laura A. McIntosh write: In light of continued SEC scrutiny and possibly increasing enforcement activity, companies should ensure that they ...

Discover how companies report long-term debt in their financial statements, listed under long-term liabilities on the balance sheet.