#financial-statements
Understand and prepare balance sheets, income statements, and cash flow reports
Applied Materials posted record Q3 FY2026 revenue of $9.12 billion (+25% YoY), a 50.3% GAAP gross margin, and net income of $2.54 billion (+43%). A double-entry read of the balance-sheet lines that lead the AI equipment cycle — inventory at $6.56 billion and contract liabilities at $3.27 billion, both rising together.
Broadcom's Q3 FY2026 revenue hit $29.591 billion (+86% YoY) and GAAP net income $13.088 billion (+216%), with AI semiconductor revenue of $16.7 billion now 56% of total revenue. A double-entry breakdown of how the AI backlog shows up as $13.7 billion of receivables and $4.5 billion of inventory while free cash flow ran at 46% of revenue.
CrowdStrike's FY2027 Q2 (ended July 31, 2026) posted $1.47 billion of revenue (+26%), record net new ARR of $333 million (+51%), and ending ARR of $5.84 billion, with GAAP net income turning positive at $5.3 million. Deferred revenue of $4.84 billion and RPO of $10.7 billion show where the ARR lives before the income statement recognizes it — asserted line by line in a public Beancount ledger.
Marvell's Q2 FY2027 (ended August 1, 2026) posted record revenue of $2.739B (+37% YoY) and data-center revenue of $2.172B (+46%), yet GAAP net income of $308M was barely a third of the $866M non-GAAP figure. The $558M gap — $326M stock-based compensation plus $215M acquired-intangible amortization — is reconciled line by line in a public Beancount ledger.
Palo Alto Networks closed FY2026 with Q4 revenue of $3.41 billion (+34%), NGS ARR of $9.10 billion (+63%), and $21.2 billion of remaining performance obligations, while the CyberArk acquisition lifted goodwill from $4.57 billion to $22.01 billion. A double-entry read of the 10-K's purchase-price allocation, the $14.76 billion deferred-revenue stock, and why GAAP operating margin fell to 6.1%.
Synopsys posted $2.477B revenue for Q3 FY2026 (+42% YoY) with GAAP diluted EPS of $2.84 against non-GAAP $3.91 — a gap bridged mostly by $402M of acquired-intangible amortization from the Ansys deal. A public Beancount ledger reconciles the print to the balance sheet, where goodwill sits at $26.8B and long-term debt is already down from $13.5B to $9.0B.
Zscaler's fiscal Q4 2026 (ended July 31, 2026) posted $898 million of revenue (+25%), ending ARR of $3.77 billion, and a full-year 23% free-cash-flow margin against a $63 million GAAP net loss. Deferred revenue of $2.93 billion and RPO of roughly $7.4 billion carry the growth signal before the income statement recognizes it — modeled FY2022–FY2026 in a public Beancount ledger alongside CrowdStrike and Palo Alto Networks.
An auditor issues one of four opinions — unqualified, qualified, adverse, or disclaimer — decided by two questions: whether the problem is a GAAP departure or a scope limitation, and whether it is material but confined or material and pervasive. This guide maps that grid, explains why a going-concern paragraph is not a qualification, and lists the bookkeeping habits that keep an opinion clean.
Snowflake's FY2027 Q2 product revenue hit $1.49 billion, up 37% year over year against a guide implying 30%, and management raised full-year product-revenue guidance to $6.07 billion (36% growth). GAAP operating margin improved to −17% from −30%, with the gap to a 15.3% non-GAAP margin almost entirely stock-based compensation.
A holding company owns the assets and an operating company runs the business, but the liability firewall between them holds only if each entity keeps its own bank account, its own ledger, and documented intercompany loans, leases and settlements. This guide covers when the two-company structure pays off for a small business, when it is pure overhead, how to book intercompany transfers correctly, and why consolidated financial statements differ from the 80-percent-ownership consolidated tax return.
Dell reported $46.971B of FY2027 Q2 revenue (+58% YoY), $4.133B of net income (+255%), and a $95B AI-server backlog, yet operating cash flow fell 13% to $2.225B while inventory doubled to $21.290B. A double-entry breakdown of segment margins, working capital, and the second-half conversion test.
ASC 250 sorts every accounting change into one of three treatments — a change in principle applies retrospectively, a change in estimate applies prospectively, and an error correction depends on materiality, from a Big R restatement to a little r revision. This guide shows small businesses how to classify each event, weigh quantitative and qualitative materiality, and document the decision in an auditable close workflow.
