Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

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 ...

The new audit risk standards require the auditor to understand and respond to risks of material misstatement, whether due to errors or fraud. In reaching that understanding, auditors should identify ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

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, ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

An audit of Millcreek Township's 2023 finances revealed accounting errors including improperly recorded fund transfers. The township's trial balance was also found to be incorrect due to issues with ...

The Auditors’ report for the year ended December 2024 on the Consolidated Financial statements of Tesla is about three pages in length. The Auditors’ report for the year ended March 2025 on the ...

WASHINGTON – The U.S. Army today released its Fiscal Year 2023 Annual Financial Report, which includes results from the annual financial statement audit for its general fund and working capital fund.

Auditing the Defense Department full financial statement is required by law. Rather than focusing exclusively on doing whatever is necessary—including fast, temporary fixes—to get a passing grade from ...

WASHINGTON – The U.S. Army released the results of its financial statement audit contained within its Fiscal Year 2024 Annual Financial Report. This year, the Army downgraded six material weaknesses ...