The Financial Accounting Standards Board, which sets the rules for business accounting in the United States, says the objective of financial reporting is to provide current and potential investors and ...

Every financial statement has a specific purpose, and each one has specific objectives. In a public company, these objectives center on complying with full disclosure and Financial Accounting ...

Financial accounting is the process by which an organization's revenue, receivables and expenses are collected, measured, recorded and finally reported in financial statements. The objectives of ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

FASB on Wednesday issued a new chapter of its Conceptual Framework related to the recognition and derecognition of an item in financial statements. The chapter, Chapter 5 of FASB Concepts Statement No ...

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

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...