Part IV

Disclosing Information in the Financial Statements


In this part . . .

The numbers clearly play a vital role in a set of financial statements but the fact is that the numbers are only part of the bigger picture. Users of the financial statements must be able to make rational decisions based on the information contained within these statements. For this reason, you have to make many disclosure notes within a set of general purpose financial statements.

In this part, I look at some of the more common disclosure notes you’re likely to come up against in the world of accountancy. I start by examining related parties and why these transactions need disclosure. I then take a look at a controversial accounting standard relating to segmental information. And finally, I explore one of the most crucial accounting standards for analysts and investors: earnings per share.

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