The Financial Accounting Standards Board, which sets the rules for business accounting in the United States, says the objective of financial reporting is to provide current and potential investors and ...

Every financial statement has a specific purpose, and each one has specific objectives. In a public company, these objectives center on complying with full disclosure and Financial Accounting ...

Financial accounting is the process by which an organization's revenue, receivables and expenses are collected, measured, recorded and finally reported in financial statements. The objectives of ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

LSE accounting research demonstrated how firms’ financial statements are used for varied purposes, including management oversight, and influenced revisions to international standards for 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 ...