Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

External audits focus on whether and how well a business's financial statements adhere to generally accepted accounting principles, or GAAP. The objective of GAAP is to standardize and regulate ...

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

Financial statements are key to understanding the underlying drivers of a business—i.e., how your business is growing, what the margin profile is, how much cash it is generating and using and from ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an audited statement and why it matters can help you gain confidence with ...

The four main financial statements for a small business include the income statement, the balance sheet, the statement of cash flow and the statement of owner's equity. Private companies and small ...

While some investors have a background in finance or accounting, you don’t need a specialized degree to read a company’s financial statements and glean valuable information that can help you make your ...

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 ...

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...