Objectives
• Discuss common financial statement disclosures for small- and medium-sized nonpublic entities
• Describe critical information useful to financial statement readers for making economic decisions
• Explain results of operations through information that supplements the face financial statements
Major Topics
• General disclosures about the entity and its environment
• Common critical information that supplements the face financial statements
• Highlighting risks and uncertainties through robust footnotes
• Tailoring disclosures to the nature, size, and complexity of the entity to provide useful information for economic decisions