Company disclosure of significant accounting policies

Companies need to disclose accounting policies and estimates in the footnotes.

Policies: 

  • What policies are discussed
  • Whether they covered all relevant data in financial statement
  • Which policies required management to estimate 
  • Whether disclosure and estimates have changed

Impact of implementing recently issued accounting standard: 

  • The company can evaluate if new standard will or will not affect the financial statement? 
  • Or they are evaluating