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:
Does your company really have the rights for the assets or obligations?
Did you include all of the balances and disclosures?
Do the numbers match receipts, titles, vouchers, any other proper documentation?
- Classification and Understandability
Can an average person understand your disclosures?
- Rights and Obligations