Posts tagged Financial Statements

Though I have posted about balance sheet’s disclosures required under the US’s accounting standard codification, in the past. This post discusses financial statements disclosures required …

Including foreign currency transactions of foreign operations (usually subsidiary companies)—in the financial statements of corporate parent—has already been a complex and labor-intensive work, since long …

Identifying problems in a financial statements and figuring out how to minimize it in the first place, is a vital role the accounting people should …

Financial statements is main product of the accounting process. Understanding the logics behind a financial statements helps the management, share holders, investors, and other interested …

Knowing the linkage of numbers in a financial statements set is vital to anyone who attempts to understand the content of financial statements and accounting …

Accounting is classified by underlying business processes, called “accounting cycles”. These processes include revenue and receipts, purchases and payments, payroll, fixed assets, financing, and general …

For the purpose of fair value measurements, “inputs” are the assumptions that market participants would use in pricing an asset or liability, including assumptions regarding …

On any acquisition process, once due diligence and valuation of acquiree is completed, the process continued to recording (accounting) the acquisition on the company’s book. …

The main objective of adjustments on financial statements is to determine the true earning power of the entity in the past. Doing this requires elimination …

A review is a step up in the level of service from a compilation engagement, since some form of assurance on the financial statements will …

Without a doubt, annual reports — more formally known as “annual reports to shareholders”, and distinctly different from the 10-K annual reports that the Securities …

Due to computer technology, it is often unclear whether existing financial statements have been “prepared” by an accountant or by management. In considering whether an …

Balance sheets (also known as statements of financial position) present information about assets, liabilities, and owner’s equity (depending on the type of reporting enterprise, this …

The end of its fiscal year is a very important time for a business. Accountants prepare the business’s income statement and statement of cash flows …

Many of you asked me for Business Forms, Calculators, Tools and Templates or anything that may help. Here I post some. This is by no …

AICPA Statement of Position (SOP) 82-1, Personal Financial Statements, addresses the preparation and presentation of personal financial statements, or, more specifically, financial statements of individuals …

In short, financial statements are essential in managing a business and in raising the capital a business needs to operate. Internal financial statements used by …

The preparation of a financial statement in conformity with IFRS, or US GAAP, requires management to make estimates and assumptions that affect the reported amounts …