In the IFRS,in addition to the five financial statements,companies provide ________ with further details on the information provided in the statements.
A) pro forma statements
B) statements of cash used and sources
C) extensive notes
D) ratio analysis

Question

Quizplus · Accepted Answer

The IFRS requires companies to include extensive notes in addition to the five financial statements to provide further details on the information provided in the statements. These notes typically provide more detail on the accounting policies and methods used, as well as additional information about specific transactions or events that may impact the financial statements. Pro forma statements, statements of cash used and sources, and ratio analysis are not required components of the IFRS financial statements, although companies may choose to provide this information as supplemental disclosures.

In the IFRS,in Addition to the Five Financial Statements,companies Provide