If you wanted to know what accounting rules a company follows related to its inventory,where would you look?

Question

Quizplus · Accepted Answer

The notes to the financial statements provide detailed information about the accounting policies a company follows, including those related to inventory. The statement of financial position and income statement provide summary information about the company's financial position and performance but do not provide details about accounting policies. The headings to the financial statements simply provide the name and date of the statements.

If You Wanted to Know What Accounting Rules a Company