Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an audited statement and why it matters can help you gain confidence with ...

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.

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 ...

Discover how auditors evaluate the inherent risk that affects financial statements, focusing on its inevitability and the crucial role of internal controls.

The new audit risk standards require the auditor to understand and respond to risks of material misstatement, whether due to errors or fraud. In reaching that understanding, auditors should identify ...

Policymakers lack the nuanced financial information on health systems they need to make consequential policy decisions, researchers argue in a recent report in the Journal of Healthcare Finance. The ...

The Board of Governors and the Federal Reserve Banks annually prepare and release audited financial statements reflecting balances (as of December 31) and income and expenses for the year then ended.

We file our annual financial statements according to the International Financial Reporting Standards, adopted by the European Union. These statements, which include independent auditors' reports and ...