GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note ...

The Governmental Accounting Standards Board released a concepts statement Thursday to provide a conceptual framework for its work on note disclosure requirements for state and local governments. GASB ...

The Financial Accounting Standards Board made two changes to its conceptual framework Tuesday and released a pair of accounting standards updates aimed at making disclosures in notes to financial ...

A financial statement expresses the value of an enterprise by listing and evaluating its parts. In the process, the statement sets forth as accurately as possible each asset and liability. Determining ...

A business transaction, such as obtaining financing, often requires companies to provide financial statements that have been evaluated by an outside independent party. Accountants are outside parties ...

The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...