Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

On May 17, 2024, the Director of the Division of Corporation Finance of the Securities and Exchange Commission, Erik Gerding, and the Chief Accountant, Paul Munter, issued a statement regarding ...

The journey to sustainability reporting for organisations often revolves around key steps. First, organisations must determine their material topics through a financial materiality process, as ...

Accounting professionals are accustomed to complying with accounting standards. Generally accepted accounting standards set the guidelines for reporting financial transactions in the United States.

THERE IS A CLEAR TREND toward adopting IFRS as the single body of internationally accepted financial reporting standards. In the next few years, thousands of companies will move to IFRS as a primary ...

IFRS 18 does not change the accounting rules for recognising revenue, valuing assets or measuring expenses. Instead, it changes the layout and discipline of financial reporting. Accounting rules ...

The International Financial Reporting Standards Foundation has published a set of near-final examples showing how companies can improve the reporting of uncertainties in their financial statements ...

Major global insurers are adapting well to new International Financial Reporting Standards (IFRS) but a PricewaterhouseCoopers survey says many of the financial statements are less clear and harder to ...

In its first formal action on IFRS since Chairman Mary Schapiro took office, the SEC plans to consider its policy on the use of IFRS by U.S. issuers at an open meeting Wednesday. The SEC, under former ...

One of the drawbacks of having International Financial Reporting Standards could be that they might mean different things in different languages. That’s one of the findings of a new paper by Peter ...