See our Accounting Factoids™ below by Salberg & Company, P.A.- Experts in Public Company Auditing and Client Service.
Today's topic is Footnotes:
Financial statements footnotes should be complete, clear and concise. Too much can be as misleading as too little.
Many financials fail to disclose all concentrations.There are a broad range of concentration topics to disclose.
Subsequent events must be disclosed by management and audited by the auditor.
Policy footnotes should disclose only the policy; not the balances or transactions.
Monday, October 1, 2012
Subscribe to:
Comments (Atom)
