The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

The Governmental Accounting Standards Board released a proposed concepts statement to guide GASB when establishing note disclosure requirements for state and local governments. The proposal is part of ...

When a corporation issues a promissory note to a lender, it signs a written agreement stating a promise to repay the money, along with interest, at a future date. The obligation to repay the debt will ...

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 ...

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 ...

Srinivasan, Suraj, and V.G. Narayanan. "Financial Accounting Reading: Analyzing Financial Statements." Core Curriculum Readings Series. Boston: Harvard Business ...

Bruns, William J., Jr. "Accounting Framework, Financial Statements, and Some Accounting Concepts, The." Harvard Business School Background Note 193-028, August 1992 ...

There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

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 ...