Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

External audits focus on whether and how well a business's financial statements adhere to generally accepted accounting principles, or GAAP. The objective of GAAP is to standardize and regulate ...

When a company’s stakeholders want to know how well it’s performing, they look to its financial statements. A financial statement is a report summarizing the written financial records to show the ...

The auditing profession is facing an economic dilemma: Audits of financial statements in accordance with GAAP are being dropped by businesses unless they are required by law, such as for companies ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...