Purchase Solution

Explain the significance of the notes to the financial state

Not what you're looking for?

Ask Custom Question

Explain the significance of the notes to the financial statements and the benefit of the required supplementary information.

Purchase this Solution
Solution Summary

Explain the significance of the notes to the financial statements and the benefit of the required supplementary information.

Solution Preview

The notes to the company's financial statements is integral for providing information to investors, and other users of the financial statements, that otherwise would not be known if not fully disclosed. The notes to the financial statements generally include information regarding operations and other business activities that provides additional disclosures regarding the financial data. The users then ...

Purchase this Solution
Free BrainMass Quizzes
Income Streams

In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

View More Free Quizzes
Related BrainMass Solutions

  • State Charter Bank vs. Federal Charter Bank

    National banks are authorized by the Gramm-Leach-Bliley Act of 1999 to engage in any activity determined by the Federal Reserve Board to be financial in nature or related to a financial activity, subject to the approval of the Federal Reserve Board.

  • Rem Inc. produces electronic components for sale to manufact

    Zeen now is evaluating the significance of the following items prior to preparing her auditor's report. Except as noted, none of these items have been disclosed in the financial statements or notes.

  • Describe the roles and responsibilities of management and in

    Briefly describe the role of information services in the communication of financial information. 4. Explain why information must be relevant and reliable to be useful. 5.

  • Government Financing

    2)Both notes to the financial statements and required supplementary information (RSI) must be included in the government's CAFR. What, then, does it matter if information is provided in notes as opposed to RSI?

  • Financial Statement Notes

    Discuss the the significance of the notes to financial statements and tell me about the benefit of required supplementary information. For example, what are the notes intended to accomplish? What type of information might they include? 2.

  • Ditka Engineering Company & First Federal Finance Company (situational analysis)

    How owuld you respond to these concerns if you were a member of the FASB? In my opinion, I would go for the combined one - to report the liability at 40% (provision), plus a disclosure (notes) in the financial statement.

  • Roger Grocery Inc - Measure Liquidity

    Explain how each of these measurements is computed. State, with reasons, whether you consider the company to be in a strong or weak current position.

  • Creating and Using Common-Size Financial Statements

    Instead of having revenue state $5,000 in year 1 and $4,000 in year 2, we would simply see a percentage, which shows the percentage of change between year 1 and year 2.

  • Colorado CAFR

    The notes of the financial statement depicts that reporting entity includes all those component units that are legally separate entities but the elected officials of the state are financially accountable for.

View More Related Solutions