Financial statements are reports compiled ... Unlike the balance sheet, the income statement covers a range of time, generally either a year or a quarter. The income statement provides an overview ...

The statement covers long-term financial-planning objectives and covers client cash-flow needs if necessary. Near-term liquidity needs are usually addressed first since those are short-term.

The author and editors take ultimate responsibility for the content. There are three main financial statements all publicly traded companies are required to make available to shareholders -- the ...

Financial statements, including the P&L ... that a company does not generate enough operating income to adequately cover current loan payments, banks are less likely to loan additional funds.

The AICPA Accounting and Review Services Committee (ARSC) voted Wednesday to issue an amendment clarifying that a CPA preparing financial statements as part of a consulting services engagement ...