Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 5 - Balance Sheet and Statement of Cash Flows - Review and Practice - Using Your Judgment - Financial Reporting Problem - Page 254: b

Answer

Instead of providing disclosures within the financial statements (after specific sections such as current assets), P & G prepares disclosures in separate and detailed notes provided in a different section after the summarized consolidated financials. Accordingly, the disclosures are separate from the main financial statements.

Work Step by Step

Instead of providing disclosures within the financial statements (after specific sections such as current assets), P & G prepares disclosures in separate and detailed notes provided in a different section after the summarized consolidated financials. Accordingly, the disclosures are seperate from the main financial statements.
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