Simple Disclosure Notes To A Companys Financial Statements

The preparation of our Consolidated Financial Statements requires that we make estimates and assumptions that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Disclosure notes to a companys financial statements. NOTES TO FINANCIAL STATEMENTS DECEMBER 3120X1 NOTE 2 SLMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued The Company grants credit to customers in the normal course of operations. General 12 PwC Holdings Ltd the Company is incorporated and domiciled in Singapore and is publicly traded on the Singapore Exchange. One disclosure example is Thesefinancial statementsarepreparedonagoingconcernbasisbecausetheholdingcompanyhasundertaken toprovidecontinuingfinancialsupportsothattheCompanyisabletopayitsdebtsasandwhen.

Notes to the Consolidated Financial Statements Business combinations Business combinations are accounted for under the acquisition method. Materiality Materiality is relevant to the presentation and disclosure of the items in the financial statements. The ordering of notes to the financial statements how the disclosures should be tailored to reflect the reporting entitys specific circumstances and the relevance of disclosures considering the needs of the users.

Audited Financial Statements Must Be Accompanied By A Set Of Notes These Notes Explain The Companys Significant Accounting Policies And Provide Disclosure Of Other Information Not -Contained In The Balance Sheet Income Statement And Statement Of Cash It Is Necessary For The Statements To Be A Fair Representation Of The Firms. FASB has communicated that one of the purposes of the new revenue recognition standard ASC 606 is to provide more useful information to users of the financial statements through new disclosure. Notes to the Financial Statements for the financial year ended 31 December 2005 These notes form an integral part of and should be read in conjunction with the accompanying financial statements.

Presented in the financial statements and related disclosures. Cash Flow Presentation The Consolidated Statements of Cash Flows are prepared using the indirect method which reconciles net earnings to cash fl ow from operating activities. The Member of NFR Energy LLC.

Statement of financial performance. The consolidated financial statements for the years ended December 31 2011 and 2010 include the accounts of the Company and its 42 and 40 respectively significant subsidiaries collectively the Companies. Page 2.

Be consumed within a short-term period in the normal business of the entity and not held for sale. In our opinion the accompanying consolidated balance sheets and the related consolidated statement of operations of members capital and of cash flows present fairly in all material respects the financial position of NFR Energy LLC and its subsidiaries the Company and Member at. Become a member and unlock all Study Answers Try it risk-free for 30 days.