Notes On F/S

Question 1

What are in MD & A

Answer 1

Operation of the firm
Mgmt’s view of the financial condition
Forward looking info

MFO

Question 2

Disclosure for the effect of changing policies

Answer 2

Background of price Chang and effects
General price Change 
Specific price change
Monetary  and no monetary items 
Purchasing power gain and losses

Question 3

What are included in financial statements significant actg policy disclosure?

Answer 3

1. Summary of significant accounting policies
   Chosen depreciation method
   Method of valuing inventory
   Securities treat as cash or cage equivalent
   The basis of consolidation ( amortization and policy and revenue recognition policies)
   2. Related part transactions
   3. Non current liability disclosures
   4. Capital structure disclosures
   5. Errors in irregularities
   6. Illegal acts

RECIN