IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

There are four key financial statements your company may have: a balance sheet, income statement, cash flow statement and statement of owners' or shareholders' equity (retained earnings).

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair ...

The accountant prepares the financial statements on an accrual basis or on a tax basis. Accrual basis financial statements follow generally accepted accounting principles and record revenue as the ...

An essential financial ... statement for a large corporation, the measures of profitability are reported at four different levels in a business's operations: gross, operating, pretax, and after-tax.

Am I still required to submit an audited financial statement? As long as your annual gross revenues do not exceed P3 million, you are qualified for optional 8% income tax and required to use BIR ...