Financial statement Tag

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...

Businesses use two types of audits to gauge financial results: internal and external. Here is a closer look at how they measure up. Focus Internal auditors go beyond traditional financial reporting. They focus on a company’s internal controls, accounting processes, and ability to mitigate risk. Internal auditors...

Securities and Exchange Commission (SEC) Chairman Jay Clayton recently said that public companies should not be required to disclose information concerning environmental, social, and governance (ESG) matters in their financial statements using a standardized format. Right now, these disclosures are voluntary and unstandardized. ESG issues The SEC...