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 ...

Explore OCBOA, a flexible non-GAAP accounting framework that includes tax-basis, cash-basis, and statutory accounting, offering an easier, cost-effective alternative for financial statements.

Every business has cash going in and going out. This is cash flow. A cash flow statement accounts for the cash moving in and out of the company. It reflects the cash impacts of revenues, expenses, ...

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

While every public company uses accrual basis accounting in its financial reporting, it’s not the only bookkeeping standard out there. Cash basis accounting also has practical applications in business ...

Paid non-client promotion: Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

An internal audit is the primary control tool used to ensure that a company's accounting staff is following the proper accounting procedures. The process permits you to review a representative sample ...