The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

FASB issued an Accounting Standards Update (ASU) that requires greater disaggregation of income tax disclosures. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, requires ...

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 ...

Other comprehensive income (OCI) is a term used in business accounting to define transactions that aren't yet realized. These figures include revenues, expenses, gains, and losses—all of which are ...

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

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...