Financial statement Tag

Your company’s financial statements should be transparent about any restrictions on cash. Are your reporting practices in compliance with the current accounting guidance? The Basics Restricted cash is a separate category of ‘cash and cash equivalents’ that is not available for general business operations or investments. There...

As year end approaches, it is a good idea for calendar-year entities to review the guidelines for recognizing revenue and expenses. There are specific rules regarding accounting cutoffs under U.S. Generally Accepted Accounting Principles (GAAP). Strict observance of these rules is generally the safest approach. The...

You already may have reviewed a preliminary draft of your company’s year-end financial statements. But without a frame of reference, they do not mean much. That is why it is important to compare your company’s performance over time and against competitors. Conduct a well-rounded evaluation A comprehensive...

There are three types of financial statements under U.S. Generally Accepted Accounting Principles. Each one reveals different, but equally important, information about your company’s financial performance. And, together, they can be analyzed to help owners, management, lenders, and investors make informed business decisions. Profit or loss The...