The officer of a corporation responsible for the firm's published financial statements would be most concerned about pronouncements of the FASB.
Financial statements are formal records of a company's, person's, or other entity's financial actions and condition. Relevant financial information is presented in a systematic and easy-to-understand way.
Earnings are the profits made by a corporation over a specific time period, usually a quarter or fiscal year. On the income statement, the earnings figure is shown as net income. When investors talk about a company's earnings, they usually mean net income or profit for the quarter.
On the income statement, interest expenditure is a non-operating item. It denotes the interest payable on all borrowings, including bonds, loans, convertible debt, and lines of credit. It is computed by multiplying the interest rate by the outstanding principal amount.
To know more about financial statements follow the link:
https://brainly.com/question/24498019
#SPJ4
