A Complete Guide to Reading Financial Statements


With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how to express the success of your growing business. We’ll help you learn to read and interpret your financial statements and show you how they impact your company.

Basic Financial Statements That Anyone Should Know


Although individual financial statements each provide different snapshots of financial health, all financial reports reflect business activities that produce a company's profit or loss.


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What information is provided in Chipotle’s basic 2021 financial statements?

Wendy Tietz

To follow are Chipotle’s four basic financial statements for its most recent year, the year ending December 31, 2021. Please note that all statements have been adapted and condensed for educational use and should not be used […]. Chipotle Mexican Grill, Inc.

A financial statement analysis mini-dashboard for a quick data analytics exercise

Wendy Tietz

Looking for a quick data analytics exercise for financial statement analysis in an introductory accounting class? You can give your students the link for this financial statement analysis dashboard and then ask a series of questions.

Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

It is possible to run an Accounting Firm and never do tax returns or financial statements! Tom Bowman, Owner of Bowman & Company, CPA, PC shares his journey and 10 step process for going from Technician to Business Owner.

The Non-Profit Financial Statement Breakdown


While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies.

GASB sets guidelines on notes to financial statements

Accounting Today

Accounting Government accounting Accounting standards

What’s the Big Deal About Financial Statement Fraud


The manipulation of a company’s financial statements does not occur as often as asset misappropriation schemes like payroll fraud, check kiting, or inventory theft. And the losses from financial statement fraud aren’t readily apparent to most people. Financial statement fraud schemes are much more costly than other types of fraud. Some may wonder what the losses in a financial statement fraud could be. Financial Investigations

Financial Statement Fraud Red Flags


Tracy Coenen teaches a group about some of the most common red flags of financial statement fraud. Financial Investigations VideosMore information on corporate fraud is available in Tracy’s book, Essentials of Corporate Fraud.

Three Financial Statements Skagit County SMBs Need To Get Right


Pivot on pricing, pivot on operations, pivot on hiring, pivot on supply, pivot on financials… Successfully pulling it off is impressive – really. We’d be happy to sit down with you, take a look at those financial statements and see how we can get your business on steadier ground.

Four Important Financial Statements for Your Business

Basis 365

You spend a lot of time analyzing financial statements as a manager or owner of a business. Of course, each statement is essential, but not all statements are equally important. Let's look at four of the most important financial statements for every business.

How Financial Statement Fraud is Done


Financial statement fraud happens is one of the most costly types of fraud. It is a significant problem because people inside and outside the company rely on the information provided in the financial statements. It is, in fact, financial statement fraud.

The Damage Inflicted by Financial Statement Fraud


Financial statement fraud impacts any person or organization that has a financial interest in the success or failure of a company. The manipulation of financial statements also affects employees. Financial Investigations

Financial Statement Myths and George Washington


They are on Financial Statement Myths and the Finances of George Washington. My webinar “season” is coming to a brief ending on Thursday with two programs I think anyone would enjoy.

Why are pension disclosures in government financial statements up to 30 months old?

Accounting Today

GASB Pensions Accounting Government accounting Accounting standards

How to Make Business Financial Statements: Everything to Know

Accounting Seed

Financial statements exist to give business owners answers to these questions. That’s why accurate financial statements are essential to business success. What is a Business Financial Statement? There are four main types of financial statements.

How to Read a Financial Statement


“How to Read and Analyze a Financial Statement” is the topic of my next Take A Business Break program at the East Brunswick Public Library on this Thursday Feb.

Finding Fraud With Analytical Review of Financial Statements


Performing analytical review on the financial statements of a company is an important part in the fraud detection process. Financial statement line items compared to one another. Numeric data compared to the notes to the financial statements.

How Will A Debt Modification Affect Your Financial Statement?



Highlights from the Latest ACFE Fraud Report


Preventing, detecting, and investigating occupational fraud requires a deep understanding of the types of schemes, potential financial losses, emerging threats and risk mitigation strategies.

CAP Series- Article #2: Logistics of a CAP audit, and comparing CAP Audits and Financial Statement Audits



Streamlining The Monthly Close With a Few Easy Steps


Small Business Advice and Tips accounting tips financial statements business planning business strategy reporting financial reporting business tips client accounting services casThe month-end is coming up and that means it is time to close.

Why Is Up-To-Date Bookkeeping So Important?


Small Business Advice and Tips virtual bookkeeper bookkeeping services financial statements outsourced bookkeeping services accounting trends business tips outsourced bookkeepingUpdated and accurate bookkeeping is the backbone to keeping a business running smoothly.

New! Crossword puzzle to review the accounting cycle

Wendy Tietz

Ch 01 Financial statements Ch 02 Transaction analysis Ch 03 Accrual income Crossword puzzle Financial accounting accounting cycle basic accounting crossword financial accounting puzzle teach accountingRecently, I surveyed my students and found that most enjoy crossword puzzles. While not every activity will suit every student, I thought it would be a good idea to create some crossword puzzles for review activities.

The Income Statement Breakdown


An income statement is a critical financial statement for reporting a business's financial performance. It can also be referred to as a revenue and expense statement.

Forecasting Revenue the Right Way


It allows for a clear idea of a company's financial standing, helps identify potential risks, and set owners and management up to make adjustments to the business plan throughout the year.

New! Beginning Data Cleaning (ETL) & Analytics Project for Excel: KAT Concession Supply

Wendy Tietz

Ch 01 Financial statements Ch 01 Introduction Ch 05 Receivables and revenues Data analytics Financial accounting Managerial accounting Miscellaneous financial accounting managerial accounting; teaching accounting

How to Read a Statement of Cash Flows


Entrepreneurs running a start-up, corporate department managers, and small business owners need enough bookkeeping knowledge to understand basic financial statements. Financials help you keep a watchful eye on the financial strength and performance of your organization.

How Did Crowe, Moss Adams, and Marcum Do In Their Respective 2020 PCAOB Inspection Reports?

Going Concern

Of the four wayward audits in Crowe’s 2020 inspection report, three had deficiencies in both financial statement audits and the audit of internal control over financial reporting. It was financial statement audits that were a nightmare, as the firm blew nearly every one of them.

What Are Clean Financials and How Can You Get Them?


We often hear prospective clients come to us explaining they are in need of clean financials. outsourced accounting services small business bookkeeping financial management financial accounting financial statements accounting analysis clean financials

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For Government Agencies: 3 Tips for Consolidating Financial Report Footnotes


A number of new debt and lease standards have been added to government agencies’ financial reporting requirements. For this post, we are zeroing in on the condition that government agencies are being required to add additional footnotes to their financial statements.

Taking a Red Pen to Financials for Valuation Purposes


Financial statements are an important source of data for valuing a business. To help clarify matters, experts often make various adjustments to the financials. The post Taking a Red Pen to Financials for Valuation Purposes appeared first on Roger Rossmeisl, CPA.

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Fraud Considerations When Making Business Acquisitions


Plan early to engage a fraud expert to review financial statements and other documents for signs that you could be dealing with a dishonest seller. Subtle warning signs When reviewing a seller’s financial statements, forensic experts look for subtle warning signs of fraud.

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How to Use the Cost Approach to Value a Business


The cost (or asset) approach specifically focuses on this part of a company’s financial statements. The balance sheet — which shows a company’s assets and liabilities — is a logical starting point for valuing certain types of businesses.

How Cash Flow Statements Help Experts Find Fraud


Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent disbursements. Fraud Briefs Cash Flow Statement

Looking Beyond the Financials for Clues to a Business’s Value


An experienced business valuation professional considers more than just a company’s financial statements when quantifying its value. The post Looking Beyond the Financials for Clues to a Business’s Value appeared first on Roger Rossmeisl, CPA.

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Your Guide to Debits and Credits in Accounting Services


Every business transaction impacts your company’s financial statements at the monetary level. Transactions are recorded into two accounts—debits and credits—to create a balanced financial picture. What are debits and credits?

Bookkeeping is The Minimum

Basis 365

You need to dive into the financial statements and understand the relationship between the different statements: Profit & Loss, Balance Sheet, and Cash Flow. The last financial statement that you need to look at is the profit & loss statement.

The Cost Approach to Valuing a Business


This financial statement reports “book values” for the company’s assets and liabilities. The cost (or asset-based) approach to valuing a business focuses on the balance sheet. Here’s how the cost approach works and when it might be an appropriate method of valuation.

How to Work with a Forensic Accountant


They’re uniquely qualified to review financial statements and business records and to interview employees to find evidence of misrepresentations and theft. Forensic accountants are professionals who have received specialized training to uncover fraud and protect against fraud threats.

FASB Revises Collections Definition


Last month, the Financial Accounting Standards Board (“FASB”) finalized new guidance that updates its definition of “collections” to be aligned with the definition used by the American Alliance of Museums. The standard can be applied to annual financial statements issued for fiscal years, and interim periods within those years, starting after December 15, 2020.

What are the fiscal year ends of Walt Disney, Carnival Corporation, and Royal Caribbean Cruises, and others?

Wendy Tietz

Companies are allowed to select a fiscal year that is different from the calendar year, which means not all companies’ financial statements cover the calendar year of January 1 through December 31. Ch 03 Accrual income Financial accounting financial accounting fiscal year end teaching accountingA calendar year runs from January 1 to December 31 each year.

The Auditor’s Opinion


Audited financial statements are a cornerstone of the financial markets. All publicly owned companies must have audited financial statements that contain a report of the registered independent accounting firm performing the audit.