#financial-statements
Understand and prepare balance sheets, income statements, and cash flow reports
Structural engineering firms should recognize revenue by design-phase completion under GAAP percentage-of-completion (schematic 15–20%, design development 25–30%, construction documents 35–40%, construction administration 10–15%), track unbilled work-in-process separately from AR, and reserve for claims-made E&O tail coverage that can run 100–300% of an annual premium.
Tesla's Q1 2026 revenue reached $22.4 billion (+16% YoY) with automotive gross margin hitting a 5-quarter high of 19.2% ex-regulatory-credits, but a capex guidance raise to over $25 billion and a $2.0 billion SpaceX equity stake sent the stock down 3.56% despite the earnings beat. Full income statement and balance sheet, FY2021-Q1 2026, in a public Beancount ledger.
Airbnb closed FY2025 with $12.2B revenue (+10.3%), $2.5B net income, and a net margin down 3.4 points as it funded services, experiences, and hotels while repurchasing $3.8B in stock. A bull-vs-bear analysis backed by an open double-entry Beancount ledger covering FY2023 through Q1 2026.
FASB's ASU 2024-03 (nicknamed DISE) requires public companies to break income statement expenses like compensation, depreciation, and inventory purchases into footnote detail starting with fiscal years after December 15, 2026, and private companies preparing for a sale, loan, or IPO should get their chart of accounts ready now.
Приходите на Microsoft за FY2026 Q3 нараснаха с 18,3% до $82,9 млрд., докато Azure ускори отново до 40% ръст, а капиталовите разходи се движат към близо $190 млрд.
SpaceX's IPO filing shows FY2025 revenue of $18.7B (+33%) and a $4.9B net loss — Starlink earned a $4.4B operating profit at a 38.8% margin while the AI segment (X and xAI) lost $6.4B on $3.2B of revenue and consumed $12.7B of capex. A bull-vs-bear analysis backed by an open double-entry Beancount ledger covering FY2023 through Q1 2026.
CoreWeave depreciates GPU servers over 6 years, Lambda over 5, and Nebius over 4 — a difference in useful-life estimates that can shift reported profit by tens of millions of dollars per 10,000-GPU fleet without any cash changing hands, and sits at the center of Michael Burry's $176 billion overstated-depreciation claim against major AI infrastructure spenders.
Under ASC 958-605, a nonprofit recognizes contributed services at fair value only when the work created or enhanced a nonfinancial asset, or required a specialized skill the organization would otherwise have paid for and the volunteer actually holds that credential — general volunteer hours, however valuable, stay off the books and out of Form 990.
Since ASU 2016-14, every nonprofit filing a full Form 990 must allocate expenses across program, management and general, and fundraising using a reasonable, consistent methodology — here's how time studies, square footage, and headcount allocation actually work, and the five mistakes that draw auditor scrutiny.
Consolidated statements group a parent with the subsidiaries it controls under ASC 810; combined statements group entities that share a common owner with no parent-subsidiary link — the structure most multi-LLC owners actually have. Both require eliminating intercompany transactions, and neither changes how each LLC files taxes.
Under ASU 2020-07 (ASC 958-605), nonprofits must record donated goods, services, and facility use at fair value on a separate line item and disclose valuation methodology by category, or risk an auditor flagging the financial statements.
True endowments are created by donor restriction and governed by UPMIFA; board-designated endowments are unrestricted funds the board chose to treat like an endowment and can undesignate at any time — mixing up the two is the most common misstep auditors flag in nonprofit endowment reviews.
