Comparative statements are financial reports that compare a given financial statement with either a prior time period or another company. Comparative statements add two critical dimensions to the ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. A comparative statement is a financial ...

One of the most effective ways to compare two businesses is to perform a ratio analysis on each company's financial statements. A ratio analysis looks at various numbers in the financial statements ...

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 ...

Generally accepted accounting principles, or GAAP, are a set of rules that all public companies must follow and most private companies also follow. Many small businesses follow GAAP from a requirement ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

While some investors have a background in finance or accounting, you don’t need a specialized degree to read a company’s financial statements and glean valuable information that can help you make your ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...