Business owners often use accounting to measure their company's financial performance. Accounting is responsible for recording and reporting a company's financial transactions. While business owners ...

A written report of the financial condition of a firm. Financial statements include the balance sheet, income statement, statement of changes in net worth and statement of cash flow. The first step in ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...

A financial statement has four components: balance sheet, income statement, cash flow statement and statement of shareholders' equity. The balance sheet is a statement of what the business owns and ...

Cash flow statements reveal money flow in/out of a business, divided into operations, investments, and financing. Operating cash flow reflects the cash transactions from core business activities. Free ...

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, ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

Every corporation needs reliable access to capital to stay in business. Positive cash flow allows businesses to cover expenses, plan growth initiatives and reward long-term shareholders. Cash flow ...