Do Your Financial Statements Present all Balances and Disclosures?
Presentation of Balances and Disclosure
When adding notes to your Financial Statements, don?t forget about:
- Occurrence
Does your company really have the rights for the assets or obligations?
- Completeness
Did you include all of the balances and disclosures?
- Accuracy
Do the numbers match receipts, titles, vouchers, any other proper documentation?
- Classification and Understandability
Can an average person understand your disclosures?
- Rights and Obligations
