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 ...

Whether your company has been requested to have a financial statement prepared by an outside CPA firm or is doing so voluntarily, the process can be extremely complex depending on what level of ...

The AICPA Accounting and Review Services Committee (ARSC) voted during its meeting this month to approve clarified and revised standards for reviews, compilations, and engagements to prepare financial ...

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

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 ...

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 ...

Businesses commonly prepare condensed financial statements in addition to the traditional financial statements. Internal preparation of these documents serves several legal purposes and commonly ...

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, ...

Even sophisticated construction businesses can struggle to interpret their financial statements. In this industry, ...