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Business LibreTexts

4: The Classified Balance Sheet and Related Disclosures

  • Page ID
    20091
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    • Contributed by Henry Dauderis and David Annand
    • Athabasca University
    • Sourced from Lyryx Learning

    Learning Objectives

    • LO1 – Explain the importance of and challenges related to basic financial statement disclosure.
    • LO2 – Explain and prepare a classified balance sheet.
    • LO3 – Explain the purpose and content of notes to financial statements.
    • LO4 – Explain the purpose and content of the auditor's report.
    • LO5 – Explain the purpose and content of the report that describes management's responsibility for financial statements.

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