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

Have you been asked to provide a P&L for your business? You may not know what a P&L is right now, but don’t panic! This financial statements tutorial will turn you into a P&L pro in no time! The P&L ...

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 ...

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Jiwon Ma is a ...

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 ...

Company's typically prepare several financial statements that cumulatively show the financial position. They include the income statement, balance sheet, cash flow statement and owners' equity ...

What are income statements or financial statements? Learn about income statement with sales revenue, cost of sales, expenses and gross/net profit or loss. What is a statement of financial position?

Nonprofit organizations submit financial statements to government authorities, lenders and investors just like their for-profit counterparts, although the focus of the financial statements is slightly ...

A written report of the financial condition of a firm. Financial statements include the balance sheet, income statement, statement of changes in net worth and statement of cash flow. The first step in ...