financial statement presentation guide pwc

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Handbook: Financial statement presentation

Handbook | November 2023

Latest edition: In-depth guide on presentation and disclosure requirements, plus considerations under SEC regulations.

Using detailed Q&As and examples, we explain various presentation and general disclosure requirements included in the Codification (i.e. ASC 205 to ASC 280), other broad topics (e.g. related parties under ASC 850 and subsequent events under ASC 855) and SEC regulations. This November 2023 edition incorporates updated guidance and interpretations.

Applicability

• All entities

Relevant dates

• Effective immediately

Key impacts

In the financial statement process, considerable time is devoted to determining what items get recorded and how to account for them, but the critical final mile is determining how they need to appear – i.e. how they are presented and disclosed.

Once the debits and credits have been settled, presentation and disclosure is how that information is conveyed to financial statement users in a transparent, understandable and consistent manner. Disclosure goes ‘behind the numbers’ and is necessary to fully understand the financial statements.

ASC 205 to 280 in the FASB’s Accounting Standards Codification® are dedicated to presentation and disclosure and provide the baseline requirements. Other ASCs address more detailed requirements, specific to certain transactions or industries. For SEC registrants, there is yet more guidance that contains many additional requirements, and which has helped shape practices over the years for all other entities.

In this Handbook, we pull together many of the general requirements and practices to provide you with a fuller picture of how the different financial statements are constructed and how they interact with one another. 

Report Contents

• Financial statements: general principles
• Balance sheet
• Income statement
• Comprehensive income
• Notes to the financial statements
• Risks and uncertainties
• Related parties
• Subsequent events

Download the documents:

Financial statement presentation

Executive Summary

Explore more

Handbook: Statement of cash flows

Latest edition: Our comprehensive guide to the statement of cash flows, with Q&As and examples to explain key concepts.

Handbook: Segment reporting

Latest edition: Our comprehensive guide to ASC 280 – with analysis, Q&As and examples.

Handbook: Earnings per share

Latest edition: Our comprehensive guide to EPS, with new and updated interpretive guidance on forward purchase/sale contracts and unit structures.

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Disclosure Checklist

Our intuitive checklist can help simplify the complex process of preparing financial disclosure reports. The guided, customizable experience can help you evaluate FASB, GASB, SEC, AICPA and IASB® disclosure requirements that apply to your business.

A holistic online solution that can help you manage the complexity and challenges of financial statement disclosure compliance

Tailor your checklist so you can see only the disclosures that apply to your business.

Disclosure Checklist can integrate seamlessly with  Viewpoint , a PwC product. This multi-medium global research platform can help enhance and expedite financial reporting by letting you create checklists tailored to your industry and organization.

Enable multi-location collaboration —assign tasks and responsibilities to your team

With multi-location functionality, Disclosure Checklist enables your team to work on checklists concurrently. Specific roles and tasks can be assigned, helping individual employees manage their work easier.

Get the latest requirements and authoritative guidance , with updates posted throughout the year

In an ever-changing environment, Disclosure Checklist is continually updated so that you have access to the most recent requirements relevant to your organization. Our National Office can help monitor and evaluate new regulations and update the checklists, posting notifications to your checklist when it requires attention.

Designed for today’s needs

Disclosure Checklist is designed for public, private and nonprofit organizations of various sizes. It can provide multiple checklist variations so you can address specific entity reporting, from US GAAP and IFRS to employee benefit plans and insurance statutory reporting.

Intuitive workflow navigation can help you assign tasks more easily and lets employees find and resolve open issues quicker.

Instead of recreating your checklist every year, you can carry over saved tailoring, settings and decisions into the next year to help you and your team become more efficient.

Get Disclosure Checklist for your business

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Partner, National Office Technology Leader, PwC US

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Senior Manager, National Office Technology, PwC US

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