Financial statements are vital for businesses, from international corporations down to limited liability companies. These statements give investors an in-depth, accurate picture of a business’s ...

If your company holds substantial ownership interests in other businesses, you might need to prepare consolidated financial statements that combine the profits, losses and other financial activities ...

When a group of two or more businesses is required to report financial results on a consolidated basis, generally accepted accounting principles, or GAAP, require the elimination of intercompany sales ...

In December 2007, FASB adopted two new business combination standards: Statement no. 141(R), Business Combinations, and Statement no. 160, Noncontrolling Interests in Consolidated Financial Statements ...

Translation risk is the foreign exchange risk associated with the translation of net investments in foreign operations into a group’s presentation currency when preparing consolidated financial ...

If you’ve ever looked at a company’s financial statement and felt lost in the numbers, you're not alone. Terms like revenue, ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...