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An Annual Comprehensive Financial Report, formerly called Comprehensive Annual Financial Report (CAFR)) [1] is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB).
A consolidated financial statement (CFS) is the "financial statement of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent company and its subsidiaries are presented as those of a single economic entity", according to International Accounting Standard 27 "Consolidated and separate financial statements", and International Financial Reporting Standard ...
Statement analysis is a technique used to determine whether a suspect is telling the truth or being deceptive based on linguistic indicators. The basic principles of statement analysis are straightforward: a suspect always reveals much more than they realize.
The cash flow statement (previously known as the flow of funds statement), shows the sources of a company's cash flow and how it was used over a specific time period. It is an important indicator of a company's financial health, because a company can report a profit on its income statement, but at the same time have insufficient cash to operate.
The auditor's report is modified to include all necessary disclosures by either presenting the report subsequent to the report on the financial statements, or combining both reports into one auditor's report. The following is an example of the former version of adding a separate report immediately after the auditor's report on financial statements.
A critical part of CVP analysis is the point where total revenues equal total costs (both fixed and variable costs). At this break-even point , a company will experience no income or loss. This break-even point can be an initial examination that precedes a more detailed CVP analysis.
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