Question

what functions are served by disclosure notes?

what functions are served by disclosure notes?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer : The various functions which are served by disclosure notes are :

  • Disclosure notes used while preparation of financial statements is to clarify the accounting procedures used by the company.
  • It presents the information which is not presented elsewhere which is relevant for users.
  • Disclosure notes hepls in disclosing the information that has occurred during and immediately after the close of the financial year.
  • Disclosure notes are included in the footnotes to an entity's financial statements .
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
U.S. Taxation Explain the rationale for the inclusion as comprehensive income of non disclosure with notes.
U.S. Taxation Explain the rationale for the inclusion as comprehensive income of non disclosure with notes.
list the usefulness and limitations of a balance sheet. why are disclosure notes important? list some...
list the usefulness and limitations of a balance sheet. why are disclosure notes important? list some examples of items that should be disclosed
what is the advantages and disadvantages of voluntary disclosure ??
what is the advantages and disadvantages of voluntary disclosure ??
U.S. Metallurgical Inc. reported the following balances in its financial statements and disclosure notes at December...
U.S. Metallurgical Inc. reported the following balances in its financial statements and disclosure notes at December 31, 2015.   Plan assets $500,000   Projected benefit obligation 420,000      U.S.M.’s actuary determined that 2016 service cost is $70,000. Both the expected and actual rate of return on plan assets are 9%. The interest (discount) rate is 5%. U.S.M. contributed $130,000 to the pension fund at the end of 2016, and retirees were paid $54,000 from plan assets. (Enter you answers in millions (i.e., 10,000,000...
what are the misconceptions or misuse of the concept of full disclosure principle?
what are the misconceptions or misuse of the concept of full disclosure principle?
what guidance does the codification provide on the disclosure of a long term obligations?
what guidance does the codification provide on the disclosure of a long term obligations?
Student's t Distribution CI (PLEASE SHOW EXCEL FUNCTIONS) The manager of The Cheesecake Factory in Boston...
Student's t Distribution CI (PLEASE SHOW EXCEL FUNCTIONS) The manager of The Cheesecake Factory in Boston would like to know the mean number of customers served on weekdays. She believes that the number of customers served follows a Normal distribution. She reports that on six randomly selected weekdays an average of 158.3 customers were served with a sample standard deviation of 52.2. (EXCEL FUNCTIONS) a. Calculate the standard error of the sample mean. (EXCEL FUNCTIONS) b. Find the t-critical value...
This problem requires you to research the disclosure requirements for fixed assets using the FASB Codification...
This problem requires you to research the disclosure requirements for fixed assets using the FASB Codification at www.fasb.org. Access to the FASB Codification requires that your educational institution be enrolled in the FASB academic access program or provides access through a third-party provider. a. Identify the section in the FASB Codification that addresses property, plant and equipment, and the sub- section that provides disclosure requirements b. Indicate the disclosures for fixed assets that should be made in the financial statements...
What disclosures must be made under the adjustable interest rate disclosure requirements?
What disclosures must be made under the adjustable interest rate disclosure requirements?
If an average of 12 customers is served per hour, what is the probability that the...
If an average of 12 customers is served per hour, what is the probability that the next customer will arrive in 9 minutes or less?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT