Comparative statements are financial reports that compare a given financial statement with either a prior time period or another company. Comparative statements add two critical dimensions to the ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. A comparative statement is a financial ...

FASB HAS ISSUED STATEMENT NO. 154 PROVIDING rules for how companies should treat changes in accounting principle. The statement requires retrospective application in all comparative financial ...

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 ...

One of the most effective ways to compare two businesses is to perform a ratio analysis on each company's financial statements. A ratio analysis looks at various numbers in the financial statements ...

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 ...

Although companies should always report accurate information in their financial statements, this does not always happen, and sometimes the error is not caught until ...

Jason Morris has 9+ years of experience as a financial professional. He is currently a controller for Nucorp, the largest steel producer in the U.S. Suzanne is a content marketer, writer, and ...

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 ...