Hi, I'm Dominique Broadway, financial planner and personal finance coach. I'm going to talk about the five elements of a financial statement. Financial statements are used to provide financial ...

It may seem belated, but the Governmental Accounting Standards Board has just recently gotten around to defining such fundamental accounting concepts as "asset" and "liability."It has also defined a ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

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 six main elements of a company's financial report give a good summary of the company's financial health and its performance over the most recent reporting period. Companies prepare financial ...

The golden nugget believed by business owners to be the solution to all their financial concerns is the financial statements for their business, primarily the balance sheet, profit and loss statement, ...

The Financial Accounting Standards Board has proposed a new chapter to Concepts Statement No. 8 that would define 10 elements of financial statements.

If you’re a high-net-worth individual (HNWI) or on the path to becoming one, having a clear understanding of your personal finances is critical. Managing wealth effectively requires more than just ...

The Governmental Accounting Standards Board has released two documents proposing a number of improvements in how state and local governments should report information on their financial statements 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 ...