Full Disclosure Paper

Full Disclosure Paper - Full Disclosure Paper Chapter 24...

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Full Disclosure Paper Chapter 24 Question 2 University of Phoenix ACC/421 Instructor: Lee Kroll By Scott Ward
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The full disclosure principle in accounting is used in financial statements such as the balance sheet, income statement and statement of cash flow, and contains any financial facts significant enough to maybe influence the judgment of an informed reader, like a lender. If certain information is found to be important or useful to an investor or lender with intentions of using the financial statements, that information might be disclosed in one of the statement or in the notes to the statement being looked at. It is because of basic accounting principles that there are an added number of pages with notes are often attached to financial statements. Users find information about financial position, income, cash flows, and investments in one of three places; within the main body of financial statements, in the notes to those statements, or as supplementary information. The notes can contain vast amounts of information, depending on the statement or
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Full Disclosure Paper - Full Disclosure Paper Chapter 24...

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