This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Learn about consolidated financial statements, the criteria for aggregation, reporting guidelines, and practical examples for parent companies with subsidiaries.

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

The Financial Accounting Standards Board released an accounting standards update Monday to clarify the interim effective date of its recently issued standard on disaggregation of income statement ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

Inventory consists of items used in the business, such as items you purchased for resale or goods that you manufactured that are complete and ready for shipment. You might think that tracking ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Discover what sundry income is, its impact on business finances, and see examples such as royalties and late fees. Learn how it differs from regular income.