Is it possible to know where management applied judgment in the financial statements?
A) No, this information is only available to company accountants.
B) Yes, upon written request to the company.
C) No, although auditors are provided with a supplement explaining accounting policies.
D) Yes, the accounting policies footnote in the disclosures will provide some of this information.

Question

Quizplus · Accepted Answer

The accounting policies footnote in the financial statement disclosures typically outlines areas where management has applied judgment, such as estimates and assumptions used in preparing the financial statements.

Is It Possible to Know Where Management Applied Judgment in the Financial