Explore BrainMass

Explore BrainMass

    Purpose and types of notes to financial statements

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    An article in Dun's Review made the following comments:

    "Every other year, say, companies should print the notes in big type and the base figures in smaller ones."


    (a) Are notes considered as part of the financial statements and what basic purpose do they serve?

    (b) What are the general types of notes?

    © BrainMass Inc. brainmass.com June 3, 2020, 9:32 pm ad1c9bdddf

    Solution Preview

    (a) Notes are an integral part of the financial statements of a business enterprise. Notes are the accountant's means of more fully disclosing data relevant to the interpretation of the ...

    Solution Summary

    This posting explains the importance of notes to financial statements, their basic purpose & types.