I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

PART F: PREPARING BASIC FINANCIAL STATEMENTS 

 

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5

   Notes to the financial statements 

Disclosure notes are included in a set of financial statements to give users extra information.   

 

Notes to the financial statements provide more detail for the users of the accounts about the information 

in the statement of profit or loss and other comprehensive income, the statement of financial position, 

the statement of cash flows and the statement of changes in equity. For example, the statement of 

financial position shows just the total carrying amount of property, plant and equipment owned by an 

entity. The notes to the financial statements then break down this total into the different categories of 

assets, the cost, any revaluation, the accumulated depreciation and the depreciation charge for the year.  

For your exam, you need to know the following disclosure requirements in detail.  

(a)