Why are the notes to the financial statements an integral part of the financial statements?

A$.$ The notes $($or footnotes$)$ to the financial statements provede descriplive information regarding a company's accounting polcies and the accourtanfs corrents and ophions. For example, a company will disclose its depreciation policy for long$-$tived assets in its financial statement footnotes and why the correeny chose the particular depreciation polloy. A company could aiso previde addionst declosures on the historical cost and accumulated depreciation by signiticant types of assets. Notes to the financial statemeris are typically exiensive.

B$.$ The notes $($or footnotes$)$ to the financial statements provide descriptive information regarding a company's accounting policies, supplemental disciosures of thems not reported on the financial stalements, and asdational detail for transactions reported on the four main financial statements. For example, a company will disclose its depreciation polioy for long$-$fived assebs in its financial statement footnotes. A company could also provide additional disclosures on the historical cost and accumulated dopreciation by significant types of assets. Notes to the financial statements are typically extersive.

C$.$ The notes $($or footnotes$)$ to the financial statements provide details for transactions reported on the inoome statement. For example, a company may report a listing of sales transactions in the notes. A company could also provide details of various operating experses reported on the income statement. Notes to the financial statements are lypically exieralue.

D$.$ The notes $($or footnotes$)$ to the financial statements provide descriptive information regarding a company's accounting polciles, managements epinions and corrments, and details pertaining to assets not flound on the balance sheet. For example, a company will disclose its accounts receivable aging in is financial statement footrotes. A company could also provide additional disclosures on the historical cost and accumulated depreciation by significant types of assels. However, notes to the financial statements ace typically not extensive.