A business transaction, such as obtaining financing, often requires companies to provide financial statements that have been evaluated by an outside independent party. Accountants are outside parties ...

Businesses commonly prepare condensed financial statements in addition to the traditional financial statements. Internal preparation of these documents serves several legal purposes and commonly ...

The issuance of a new standard in October 2014 has resulted in questions to the AICPA Center for Plain English Accounting (CPEA) regarding whether an accountant who performs bookkeeping services for ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

Clarified and revised standards for compilations and engagements to prepare financial statements released Thursday create a bright line between accounting (preparation) and reporting (compilation) ...

The American Institute of CPAs' Accounting and Review Services Committee clarified a standard on financial statement preparation as part of a client advisory services engagement. Processing Content ...

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 ...

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

Business lending in the U.S. continues to climb as 2016 winds to a close, and many businesses considering 2017 growth plans will undoubtedly seek financing in the coming year. One way to prepare for ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. David ...

Discover how micro accounting works at personal, corporate, and government levels. Learn its processes and how it contrasts with macro accounting strategies.