Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

When you hear the term audit, you may immediately think of a team of IRS officers rummaging through your files looking for discrepancies and errors in your business's tax returns. However, financial ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

The debate about responsible financial reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in ...

THE ASB ISSUED AN EXPOSURE DRAFT designed to expand audit procedures to address material financial statement fraud. Comments on the proposed changes are due by May 31, 2002. THE ED EMPHASIZES ...

For many, the term “Air Force” conjures up images of fighter jets and airmen in combat. But there’s a lot more that happens behind the scenes. Budgeting, funding and accounting, for example, are ...