Hi quest ,  welcome  |  sign in  |  registered now  |  need help ?



The financial statements are the backbone of a comprehensive financial report. In fact, a financial report is not complete, as the three primary financial statements are not included. but a financial report is much more than these statements. A financial report required disclosures. This term refers to additional information in a financial report. Includes therefore a wide ethical and financial report should be not only financial, but also information.

The CEO of a company (usually the CEO in a listed company) has the responsibility first to ensure that the financial statements have been prepared according to generally accepted accounting principles (GAAP) and the financial report provides sufficient information. He or she works in collaboration with the financial director or controller of the company to ensure that the financial report meets the standard of adequate information.

Some common methods of disclosure include:

-Notes containing information about the most important figures. Additional information required notes to almost all financial statements for a number of the account of the balance in the financial statements.

-Additional financial schedules and tables which gives more details that may be included in the body of the financial statements.

-Other information may be required if the company is a public undertaking subject to federal regulations regarding financial reports to its shareholders. Other information is voluntary and was not strictly necessary, legally or in accordance with GAAP.

Some disclosures are required by various governing boards and agencies. They include:

-The Financial Accounting Standards Board (FASB) a lot of standards designated. His Dictation on the disclosure of the effects of the stock options is such a standard.

-The Securities and Exchange Commission (SEC) requires the disclosure of a wide range of information for listed companies.

-International companies must adhere to the disclosure by the standards of the IASB.

Disclosure - Internet Business Online News


Post a Comment