GASB on Wednesday issued a proposed concepts statement addressing recognition of financial statement elements as well as a call for feedback on preliminary views on revenue and expense recognition ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. David Kindness is a Certified Public Accountant ...

Depreciation spreads the cost of tangible assets over their useful life on income statements. Each year, $1,500 is recorded as a depreciation expense, reducing the asset's book value. Amortization and ...

Inventory is the merchandise you have purchased that you expect to resell to customers. Prepaid inventory is inventory for which you have paid but have not yet received. Regardless of when you pay for ...

As a business owner or manager, you have probably reviewed each of your company's primary financial statements – the income statement, balance sheet, statement of owner's equity and statement of cash ...

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. Suzanne is a ...

Nearly every line item on the firm's expense statement was under budget in 2020, but the firm's leadership expects the trend to reverse later this year. It was a lopsided financial year for Stinson, ...

Every company produces three important financial reporting documents when the fiscal period comes to a close: the balance sheet, cash flow statement, and the profit and loss statement. Among these, ...