A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Pension expense signals an employer's annual cost for maintaining an employee's pension plan. Employers who provide a pension plan must calculate and disclose plan assets and liabilities on an income ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial analysis.

Business facilities are the physical structures where your business is located. The most common types of facilities are office buildings, warehouses and factories. These can be new facilities or ...

Find out what to include in a cash flow statement, as well as its limitations and how cash flow is calculated.

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 ...

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 ...

Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's ...