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

The International Accounting Standards Board has introduced a new standard to give investors more readily comparable information about companies' operating profits in one of the biggest changes to ...

Discover key differences between U.S. GAAP and IFRS standards, including inventory costing, asset revaluation, and financial reporting requirements.

IFRS 18 and Ind AS 118 will standardise profit-and-loss presentation, redefine operating profit, and regulate management-defined performance measures. The change aims to improve transparency, ...

Disputes between what accounting standards permit and what regulatory authorities in Kenya allow have become increasingly frequent over the years, particularly in relation to line items that directly ...