Financial statement footnotes can provide a wealth of useful information. Too often, however, no one bothers to read them. Experienced bankers know to look beyond the numbers and read the footnotes to find out qualitative details and narrative disclosures, as well as what’s not being said. Omissions often forewarn of financial uncertainty and even fraud. Here are some examples that bankers should watch out for.
Interpreting Financial Statement Footnotes: What to Watch Out For
Posted by bgoricki on Dec 9, 2016 12:09:43 PM
0 Comments Click here to read/write comments
Topics: Advisory, Commercial Lenders, commerical banking, financial statement disclosures, Uncategorized
Going Concern Disclosure Issues Clarified in Newly Issued FASB Standards
Posted by celliott on Sep 3, 2014 1:56:31 PM
Audit professionals, CFOs and CEOs and other stakeholders of all companies should find long-awaited clarity and guidance in newly issued standards surrounding going concern disclosures in financial statement footnotes. Smith & Howard’s Assurance Services group reports that the Financial Accounting Standards Board (FASB) recently updated U.S. Generally Accepted Accounting Principles (GAAP) to clarify going concern disclosures.
0 Comments Click here to read/write comments
Topics: ASU 2014-15, Business Continuity, disclosures, FASB, financial statement disclosures, GAAP, Going Concern, Uncategorized