Businesses create financial statements to communicate the financial state of the business. The accountant prepares the financial statements on an accrual basis or on a tax basis. Accrual basis ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Learn what basis value is, how to calculate it, and see examples to understand its role in reducing tax burdens on fixed assets when sold.

Companies must produce a series of financial statements to provide information on the their activities, net worth and viability. There are three main financial statements maintained by companies and ...