A PDF version of this publication is attached here: Financial statement presentation guide (PDF 14.5mb)

PwC is pleased to offer our Financial statement presentation guide. This guide serves as a compendium of many of today’s presentation and disclosure requirements included in US GAAP, including relevant references to and excerpts from the FASB’s Accounting Standards Codification (the Codification). It also provides our insights and perspectives, interpretative and application guidance, illustrative examples, and discussion on emerging practice issues.

This guide also discusses the requirements in S-X, Article 5, for commercial and industrial companies. In most cases, the content does not include the requirements of other Articles of Regulation S-X or other industry-specific guidance. However, some chapters address topics relevant to reporting entities in other industries, such as investments and derivatives.

Appropriate financial statement presentation and disclosure is key to achieving the objectives of financial reporting, including providing decision-useful information to investors, lenders, creditors, and other stakeholders. This guide has been prepared to support practitioners in the preparation of their financial statements. It should be used in combination with a thorough analysis of the relevant facts and circumstances, review of the authoritative accounting literature, and appropriate professional and technical advice.

The guidance in this guide is applicable to reporting entities that are going concerns and addresses financial statement presentation and disclosure related to the core financial statements. As a result, the following areas are not addressed in this guide:

PwC’s Bankruptcies and liquidations guide addresses the presentation and disclosure requirements applicable to entities reporting on a liquidation basis.

Definitions, full paragraphs, and excerpts from the FASB’s Accounting Standards Codification are clearly labeled. In some instances, guidance was cited with minor editorial modification to flow in the context of the PwC Guide. The remaining text is PwC’s original content.

This guide provides general and specific references to chapters in other PwC guides to assist users in finding other relevant information. References to other guides are indicated by the applicable guide abbreviation followed by the specific section number. The other PwC guides referred to in this guide, including their abbreviations, are:

The following is a summary of recent noteworthy revisions to the guide. Additional updates may be made to future versions to keep pace with significant developments.

FSP 25, Segment reporting

FSP 14, Leases

FSP 10, Equity method investments & joint venture entities

This publication has been prepared for general informational purposes, and does not constitute professional advice on facts and circumstances specific to any person or entity. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication. The information contained in this publication was not intended or written to be used, and cannot be used, for purposes of avoiding penalties or sanctions imposed by any government or other regulatory body. PricewaterhouseCoopers LLP, its members, employees, and agents shall not be responsible for any loss sustained by any person or entity that relies on the information contained in this publication. Certain aspects of this publication may be superseded as new guidance or interpretations emerge. Financial statement preparers and other users of this publication are therefore cautioned to stay abreast of and carefully evaluate subsequent authoritative and interpretative guidance.

The FASB Accounting Standards Codification® and the FASB Concepts Statements are copyrighted by the Financial Accounting Foundation (FAF), 401 Merritt 7, PO Box 5116, Norwalk, Connecticut, 06856-5116, U.S.A., and are reproduced with permission. Complete copies of the documents are available from the FAF.