Balance Sheet Disclosures Flashcards
1
Q
Items in Significant Accounting Policy
A
Measurement bases used in preparing FS Accounting principles and methods Criteria Policies Pricing
2
Q
Policies footnotes include
A
basis of consolidation depreciation methods amortization of intangibles inventory pricing profit and LT construction contracts revenue from franchising
3
Q
Items not in Footnote
A
composition of accounts and balances
details to change in ACC principles
dates of maturity of LT debt
yearly computation of deprecation
4
Q
What is the purpose of information presented in notes to the financial statements
A
provide disclosures required by GAAP
