NOTES TO FINANCIAL STATEMENTS

Question 1

Specific Accounting Principles and Methods

Answer 1

a. Basis of consolidations
b. Depreciation methods
c. Amortisation of intangibles
d. Inventory Pricing
e. Use of estimates
f. Fiscal Year definition
g. Specie; revenue recognition issues

Question 2

Items not included

Answer 2

a. composition and detailed dollar amounts of amount balances
b. Details relating to changes in accounting principles
c. Dates of maturity and amt of long term debt
d. Yearly computation of depression, depletion and amortisation

Question 3

Remaining Notes to the Financial Statements

Answer 3

relevant note information
1. material info
2. ch in stockholders equity
3. FV estimates
4. contingency L/G
5. contractual obligations

Question 4

Disclosures of Risk and Uncertainties

Answer 4

Existing at the dates of FS

nature of operations - footnotes

Question 5

Certain Significant Estimates

Answer 5

When it is reasonably possible that an estimate will change in the near term and that the effect of the change will be material, an estimate of the effect of the change should be disclosed.

Question 6

Current Vulnerability Due to Certain Concentrations

Answer 6

Vulnerability due to concentrations arise when an entity is exposed to risk of loss that could be mitigated through diversification

Question 7

Disclosure Requirements - Concentration

Answer 7

exist at the FS
makes the entity vulnerable to the risk of a near term severe impact
at least reasonably possible that the events could cause the severe impact will occur in the near term