Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958 ...

For businesses, net income appears on the income statement and is often referred to as the "bottom line," indicating overall profitability. Investors should closely scrutinize the quality of financial ...

Nonprofits are organizations that are not owned by shareholders and are not intended to earn profit for distribution. Instead, nonprofits typically seek to earn revenue to distribute for programs, ...

Differences between a single-owner balance sheet and a corporation's statement of financial position primarily lie in the size of accounts and the diversity of operating items. In a financial glossary ...