A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to understand your business better.

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 ...

What Else Do Financial Records Include? Other than the most common line items found in financial statements, investors can also read the lesser known items, such as the footnotes, which often contain ...

An income statement is your business’s bottom line: your total revenue from sales minus all of your costs. Financial data is always at the back of the business plan, but that doesn’t mean it’s any ...

Learn how accounting cushions help companies smooth earnings and achieve financial stability by overstating expenses and ...

FASB is seeking comments on a proposed Accounting Standards Update (ASU) that is intended to provide investors with more decision-useful information regarding a public business entity’s expenses. The ...

Forbes contributors publish independent expert analyses and insights. Carrie Brandon Elliot analyzes international tax issues. This article is more than 2 years old. Money question, where to invest, ...

Find out what to include in a cash flow statement, as well as its limitations and how cash flow is calculated.

The Board of Governors and the Federal Reserve Banks annually prepare and release audited financial statements reflecting balances (as of December 31) and income and expenses for the year then ended.

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 ...