Microsoft FY2026 Q3: Azure Hits 40% Growth as the $190 Billion Capex Bet Compounds
Microsoft FY2026 Q3 revenue rose 18.3% to $82.9B as Azure re-accelerated to 40% growth, tracking capex near $190B.
#financial-statements
Financial Statements
Understand and prepare balance sheets, income statements, and cash flow reports
SpaceX's First Public Earnings: Starlink's $11.4B Profit Machine Is Bankrolling a $6.4B AI Bet
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.
GPU Depreciation Schedules Explained: How Neoclouds Turn One Accounting Estimate Into Billions in Profit
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.
Contributed Services in Nonprofit Accounting: ASC 958-605 Recognition Guide
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.
Natural vs. Functional Expense Classification: How Nonprofits Build the Form 990 Statement of Functional Expenses
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 vs. Combined Financial Statements: What Owners of Multiple LLCs Actually Need
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.
Recording Gifts-in-Kind: A Nonprofit Accounting Guide to ASU 2020-07
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 Endowment vs. Board-Designated Endowment: A UPMIFA Guide for Nonprofits
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.
Direct vs. Indirect Cash Flow Statement Method: Which One Fits Your Small Business?
The indirect method reconciles net income to operating cash flow using existing income-statement and balance-sheet data and is used by roughly 98% of public companies, while the direct method lists actual cash receipts and payments by category, which GAAP and IFRS both explicitly encourage; both always reconcile to the same total but answer different questions.
Understanding Loan Covenants: What Every Small Business Owner Signs Away (Without Realizing It)
A loan covenant breach can trigger default even without a missed payment; this guide explains DSCR, leverage, and current ratio covenants, cross-default and MAC clauses, and how to track compliance monthly instead of quarterly.
The Altman Z-Score: A Five-Ratio Early Warning System for Business Failure
The Altman Z-Score combines five financial ratios into one number that predicted bankruptcy with 72% accuracy two years out. This guide covers the original formula, the Z' and Z'' versions for private and non-manufacturing firms, a worked example, and how to screen your own company, customers, and suppliers.
Common-Size and Trend Analysis: Turning Financial Statements Into Percentages to Catch Margin Erosion
Common-size analysis restates every line of a financial statement as a percentage of revenue or total assets; trend analysis indexes the same lines across years. Together they expose cost creep, margin erosion, and balance sheet drift that raw dollars hide, and they make a $2M business meaningfully comparable to a $50M peer.