What Are the "Notes to the Financial Statements"? Why Are

Question

Examlex · Accepted Answer

The Answer is The notes to the financial statements are a critical part of the financial statements. In them management gives more detail about specific items such as the various types of inventory held by the company and details on their long-term assets. By including additional explanations in notes rather than in the financial statements, management keeps the company's statements simple and uncluttered. Note disclosures help to increase the usefulness of the financial statements and enhance the user's understanding of the various components of the statements.

What Are the "Notes to the Financial Statements"? Why Are

Short Answer

Correct Answer:
Verified

What Are the "Notes to the Financial Statements"? Why Are

Short Answer

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified