FINANCIAL STATEMENT ANALYSIS Definition

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FINANCIAL STATEMENT ANALYSIS is analysis of a companys financial statement, usually by accountants or financial analysts. Usually includes indepth financial ratio analysis comparisons over time periods.

Learn new Accounting Terms

RETAINED PROFIT see RETAINED EARNINGS.

GOVERNMENT AUDITING STANDARDS is a book issued by the comptroller general of the United States, sometimes called the "yellow book." Government Auditing Standards contains standards for audits of government organizations, programs, activities, and functions and of government assistance received by organizations. The audit is designed to provide reasonable assurance of detecting material misstatements resulting from noncompliance with provisions of contracts or grant agreements that have a direct and material effect on determination of financial statement amounts, are followed when required by law, regulation, agreement, contract, or policy.

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