This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Discover key differences in income statements for merchandising and service companies, including inventory, cost of goods sold (COGS), and revenue variations.

Discover what sundry income is, its impact on business finances, and see examples such as royalties and late fees. Learn how ...

Unrealized gain is an income statement category reserved for investment income that a company expects to receive in the future. Think of it as money on paper rather than cash in the bank. When the ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

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 ...

A company may invest in another private or publicly traded company. The accounting for this investment depends on the level of control of the parent company in the subsidiary. The consolidated method ...

The Financial Accounting Standards Board released an accounting standards update Monday to clarify the interim effective date of its recently issued standard on disaggregation of income statement ...