It may seem belated, but the Governmental Accounting Standards Board has just recently gotten around to defining such fundamental accounting concepts as "asset" and "liability."It has also defined a ...

Hi, I'm Dominique Broadway, financial planner and personal finance coach. I'm going to talk about the five elements of a financial statement. Financial statements are used to provide financial ...

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 ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. The proposed chapter, Concepts Statement No. 8, ...

Financial statements are used to report the profitability and financial stability of a company. To create a company's financial statements, information on revenues, expenses, assets, liabilities and ...

What Else Do Financial Records Include? Other than the most common line items found in financial statements, investors can also read the lesser known items, such as the footnotes, which often contain ...

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 ...

Improve your chances of growth and success by covering these bases in your financial plan.