Posts tagged Financial Statement

How unethical management fraudulently misstates financial statement? The majority of cases of fraudulent financial reporting involve making a company’s financial health appear better than it …

I have discussed various techniques and ratios to analyze a set of financial statements. On other hand, there are various techniques used to report financial …

Sometimes the initial review of the period-end financial statements comes as quite a shock—the revenues or expenses may be wildly off from expectations. This results …

The balance sheet date is the pivotal date at which the financial position of an entity is determined and reported. Thus, events that occur up …

Most business publish three financial statements, usually annually but sometimes more frequently. These are the profit and loss account (income statement), the balance sheet and …

There are several tools used to conduct financial analysis. One is a database of accounting information, in which an analyst can roam for days, tracking …

“What does this ‘Accounting: The Language of Business, Investing, Finance, and Taxes’ about?”, you may wonder. Okay, this is not about calculating (measuring), nor recording transaction …

After discussing “interim reporting” in my previous posts, you may want to know about “segmental reporting” as well. So let’s discuss about this a bit. …

The income tax provision includes current and deferred taxes (e.g., total tax expense for a nine-month period is shown in the third quarter based on …

After a business decides on the format for reporting its income statement (multi-step or single-step), the next main decision concerns how much information to disclose …

The foreign entity’s financial statements in a highly inflationary economy is not sufficiently stable and should be re-measured as if the functional currency were the …

This post series will cover the following issues: FASB statement related with foreign currency translation, important term in foreign currency topic you should familiar with, …

Segmental reporting is the process of reporting the activities of profit centers such as divisions, product lines, or sales territories. The contribution approach is valuable …

One among irregular items that gets special accounting consideration is an extraordinary event. An extraordinary item is a transaction or event that is both unusual …

Assets are financed both by debt and equity. “Equity“ represents the “net assets“ of a corporation. This concept can be compared to owning a house …

Long-term liabilities/debt generally represent the most significant obligation for the corporation. Although this obligation does not impact a firm’s current liquidity, ultimately it becomes payable. …

Liabilities and stockholders’ equity support a company’s investment in assets. Liabilities must be recognized on the date they were incurred. Liabilities, much like assets, can …

Generally the most significant non-current asset in terms of value is a company’s investment in property and equipment. These are the assets that companies commit …