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 ...

Accounting principles are the rules that public companies must use when preparing and disclosing their Accounting principles ...

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

Certified financial statements are accounting statements that have been certified by an independent accounting firm. Learn ...

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.

To understand the financial health of your business, it’s critical that you keep accurate records. Having solid, easy-to-understand accounting reports when you need them is a good step toward ensuring ...

You want to refinance your home. The bank requires an appraisal to determine the current value. The appraiser uses data from 2019. Would you feel good about that? Or let’s say you want to sell your ...

But they shouldn't be. Governments and nonprofits take our tax and contribution money to provide valuable services--shouldn't we be making sure that they're making good use of our money? (To get ...

Trust beneficiaries often request a corporate trustee to prepare a statutory accounting. The Texas Trust Code in Section 113.151 provides that a beneficiary may request a written statement of accounts ...