Companies use financial statements both for internal and external purposes. Those that supply information to the public must follow accounting principles. Both the Generally Accepted Accounting ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

This article was written by Gregory van Droogenbroeck, CFA and Scott J. L. Coulter, CFA, CPA, CA for World Accounting Report. The International Financial Reporting Standard 9, or IFRS 9, represents ...

A balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholder's equity. A balance sheet is a type of financial statement. It gives you an ...