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 ...

When you hear the term audit, you may immediately think of a team of IRS officers rummaging through your files looking for discrepancies and errors in your business's tax returns. However, financial ...

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 ...

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, ...

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.

Discover the key differences between compiled and certified financial statements, including auditing, reliability, and investor trustworthiness.

THE ASB ISSUED AN EXPOSURE DRAFT designed to expand audit procedures to address material financial statement fraud. Comments on the proposed changes are due by May 31, 2002. THE ED EMPHASIZES ...

Although some may see them as a headache, audits play a very important purpose in the operation of a nonprofit. For starters, audits are designed to help ...

For many, the term “Air Force” conjures up images of fighter jets and airmen in combat. But there’s a lot more that happens behind the scenes. Budgeting, funding and accounting, for example, are ...

FORT DETRICK, Md. - In April 2025, Fort Detrick opened its books to Army contracted auditors as part of the Army's ongoing commitment to financial transparency and accountability. This audit, ...