Companies prepare the balance sheet and the income statement periodically at the end of each accounting cycle. While a balance sheet relates to a specific date, or a given point within an accounting ...

The income statement, or profit and loss statement, reflects a company's revenues and expenses for a period. When a company uses the accrual basis of accounting, it records its revenues when they are ...

One of the toughest rites of passage investors go through is learning how to navigate financial statements. In particular, understanding the difference between accounting income and cash flow is a ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

The Financial Accounting Standards Board released an accounting standards update Monday to clarify the interim effective date of its recently issued standard on disaggregation of income statement ...

Our study examines how the uniform rules of FIN 48, which governs accounting for income tax uncertainty, affect the relevance of income tax accounting. By requiring all firms to follow the same ...