The Financial Accounting Standards Board, which sets the rules for business accounting in the United States, says the objective of financial reporting is to provide current and potential investors and ...

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

A common reason small companies fail to reach their profit potential or eventually go out of business is poor financial reporting. It's not enough to know what your sales are, how much money you have ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Andy Smith is a Certified Financial Planner ...

The AICPA Accounting Standards Executive Committee (AcSEC) commented favorably on a partial draft of a conceptual framework for financial reporting being developed jointly by the Financial Accounting ...

We have been writing on the Conceptual Framework in response to the Financial Accounting Standards Board's announced intent to strengthen it. We've discussed the objective of financial reporting, the ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

In a Nov. 3, 2008, press release, the Financial Accounting Standards Board and the International Accounting Standards Board jointly announced they would be holding three round tables in the U.K., the ...

The CFOs of public companies and companies aspiring to go public know all too well that public reporting and, in particular, financial reporting is a rigorously demanding process. The constant influx ...