ACCA FA Syllabus F. Preparing Basic Financial Statements - Purpose of disclosure notes - Notes ^{1 / 5}

Notes to the accounts

Notes to the accounts are prepared for the following three purposes:

1. present information about the basis of preparation of the financial statements and the specific accounting policies used;

2. disclose the information required by IFRSs that is not presented elsewhere in the financial statements; and

3. provide information that is not presented elsewhere in the financial statements, but is relevant to an understanding of any of them.