Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

Accountants with businesses big and small normally compile financial statements each quarter. The statements paint a picture of all of the company's transactions. First, the company will record the ...

A statement, in accounting terms, is synonymous with "report." There are several common accounting statements, all of which draw on the same accounting data but which are prepared for different ...

The income statement, also called the profit-and-loss statement, is a more detailed presentation of earnings, which is crucial when trying to uncover potential bargain stocks. To describe where a ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses, and net ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

Discover why operating cash flow is a more reliable metric than net income for assessing financial health and avoiding accounting manipulation risks.

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

The Financial Accounting Standards Board has released an updated accounting standard for reporting amounts reclassified out of accumulated other comprehensive income. Accounting Standards Update No.