As a part of the response to the call for increased transparency and accountability among not-for-profit entities (NFPs), FASB has taken on a project to improve the existing NFP financial reporting ...

Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958 ...

Under accounting rules, a business must list direct costs in a statement of profit and loss, but these charges also interrelate with other financial data summaries. These include a statement of ...

Nonprofit organizations submit financial statements to government authorities, lenders and investors just like their for-profit counterparts, although the focus of the financial statements is slightly ...

Spring is here. The Easter bunny is on his or her way as Easter approaches. Get those kites decorated! Meanwhile, millions of publicly traded companies (those operating on a calendar year) across the ...

Some business leaders do not take the time to review their financial information on a consistent basis. That could mean they’re making decisions on past data that is no longer relevant. “I have seen ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

Every February and August, business news sites are full of headlines about company reports and “earnings season”. That’s because in Australia, most companies have a reporting period ending June 30 – ...

Balance sheets and income statements are important tools to help you understand the finances and prospects of your business, but the two differ in key ways. Knowing when to use each is helpful in ...