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

GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

GASB issued a revised proposed concepts statement Tuesday that would guide the board when it establishes requirements for notes to financial statements for state and local governments. The proposal ...

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 ...

The Financial Accounting Standards Board made two changes to its conceptual framework Tuesday and released a pair of accounting standards updates aimed at making disclosures in notes to financial ...

A financial statement expresses the value of an enterprise by listing and evaluating its parts. In the process, the statement sets forth as accurately as possible each asset and liability. Determining ...

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 ...

The issue concerns statutory timelines for filing financial statements. Companies must file adopted statements within 30 days of AGM, ensuring compliance with Section 137 to avoid ...