Accounting professionals are accustomed to complying with accounting standards. Generally accepted accounting standards set the guidelines for reporting financial transactions in the United States.

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

Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording ...

Consolidated financial statements combine a parent company's information with one or more subsidiary companies to produce one master document. Investors, lenders or regulatory agencies often require a ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. The proposed chapter, Concepts Statement No. 8, ...

The Financial Accounting Standards Board is tackling cryptocurrency accounting challenges that have plagued institutional investors for years. Two major digital asset projects on its 2026 technical ...