Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

Company's typically prepare several financial statements that cumulatively show the financial position. They include the income statement, balance sheet, cash flow statement and owners' equity ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958 ...

Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958 ...

ALLOCATION - The assignment and reassignment of a cost or group of costs to one or more cost objectives based on a reasonable standard. Terms with assorted shades of meaning are cost reallocation, ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...

Nonprofit organizations submit financial statements to government authorities, lenders and investors just like their for-profit counterparts, although the focus of the financial statements is slightly ...