How Do General Purpose Financial Statements Help Achieve the Objectives of Financial Reporting?

Answer General-purpose financial statements target a diverse audience, telling readers how well a company navigated the economic ups and down over a given period -- say, a quarter or fiscal year. These s... Read More »

Top Q&A For: How Do General Purpose Financial Statements Hel...

The Method of Reporting a Minority Interest in Consolidated Financial Statements?

The Financial Accounting Standards Board released FASB Statement No. 160 to introduce a single standard for how companies account for minority interests. The statement is effective for fiscal-year ... Read More »

How to Forecast Financial Statements Using the Forecasted Financial Statements Approach?

Most people remember hearing the story about a genie in a bottle as a child. This genie offers the finder of the magic lamp three wishes. For the investment analyst, one of those three wishes would... Read More »

How are financial statements interrelated?

Financial statements are detailed summaries of a business's financial activities during a designated span of time. The basic types of financial statements build upon one another to provide informat... Read More »

What Is the Solidification of Financial Statements?

Creating and updating financial statements is a key part of responsible business management. These statements show you what you're doing right and where you have room to improve when it comes to yo... Read More »