Learn about changes in accounting principles and why businesses make them, as well as the reporting and recording ...

Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

As your client’s most trusted advisor, you probably spend a lot of time on their business balance sheet. But how much focus is dedicated to their personal balance sheet? The personal balance sheet is ...

Consolidated financial statements combine a parent company's information with one or more subsidiary companies to produce one master document. Investors, lenders or regulatory agencies often require a ...

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 ...