Every business has an accountant who prepares financial statements on a regular basis. Management, creditors and stockholders use these statements to gauge the performance of the company and make ...

Financial statements are key to understanding the underlying drivers of a business—i.e., how your business is growing, what the margin profile is, how much cash it is generating and using and from ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

Forbes contributors publish independent expert analyses and insights. I am the Kester and Brynes Professor at Columbia Business School and a Chazen Senior Scholar at the Jerome A. Chazen Institute for ...

A business uses pro-forma, or projected, financial statements when developing a financial plan. A pro-forma financial statement uses the same format as a current balance sheet, income statement or ...

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 ...

Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the ...