Understanding Financial Statements
The Four Financial Statements
4 financial statements--
Preparing Financial Statements
- The Rules Followed by Accountants When Preparing Financial StatementsThis article briefly discusses the five major principles considered when preparing financial statements--the cost principle, the full disclosure principle, the going concern principle, the matching principle and the revenue recognition principle.
- How Do I Prepare a Financial Statement Compilation?Compilations are the most basic financial statement assurance service offered by auditors, and they provide business owners with a basic inspection of an organization’s data.
- How to Prepare OCBOA Financial StatementsThis informational article discusses the preparation of other comprehensive basis of accounting (OCBOA) financial statements, which are commonly used in small businesses.
- Preparing your first IFRS financial statementsAlthough convergence is still being considered, this publication from PwC will help guide U.S. companies as they begin to prepare for their first IFRS financial statements.
- Principles of Accounting: Preparing Financial StatementsChapter 4 of the accounting textbook "Financial Accounting" by Larry M. Walther discusses the steps in preparing financial statements, including the adjustment process and the worksheet approach. There is also a related video lecture below.
Annual Reports
While Annual Reports do not typically provide the full content of financial statements, these reports are often the only source of published financial information for certain companies, particularly private and non-profit organizations.
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