Question

what is the purpose of information presented in the notes of Financial Statement​

Answer 1

Answer:

The purpose of information presented in notes to the financial statements is to enhance the information included in the statements. This may include providing further detail of amounts that are included in totals on the statements.

Answer 2

"The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions." Financial statements should be understandable, relevant, reliable and comparable.

The information found on the financial statements of an organization is the foundation of corporate accounting. Also referred to as the statement of financial position, a company's balance sheet provides information on what the company is worth from a book value perspective.