A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

The link between a balance sheet and an income statement is obvious, but it's also tricky. The more income your business earns, the more value should show up on its balance sheet. But the calculations ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...

Other comprehensive income (OCI) is a term used in business accounting to define transactions that aren't yet realized. These figures include revenues, expenses, gains, and losses—all of which are ...

Learn about consolidated financial statements, the criteria for aggregation, reporting guidelines, and practical examples for parent companies with subsidiaries.

Understanding how the income statement affects the balance sheet is not that difficult. The two concepts fit together like pieces of a dynamic puzzle. In this case, the puzzle is the financial ...

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...

FASB has issued Statement no. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans, to reform accounting for pension and other postretirement benefit plans. The new ...