| Answer:
If we have too much details like statutory and voluntary information disclosed on the face of the financial statements, these would make them very cluttered and even confusing and intimidating to the readers/investors. Therefore, such details or information are presented in the NOTES that form part of the financial statements. Some of the Major Contents In The Notes To The Financial Statements are: 1.0 Corporate Information of the Company 2.0 Significant accounting policies: 2.1 Basis of preparation 2.2 Summary of significant Accounting Policies 2.2 (a) Subsidiaries and basis of consolidation 2.2 (b) Goodwill 2.2 (c ) Property, plant and equipment, and depreciation 2.3 New standards and interpretation issued but not yet effective 2.4 Significant accounting estimates and judgements 3.0 Revenue 4.0 Cost of sales 5.0 Other operating income 6.0 Finance costs 7.0 Loss before tax 8.0 Employee benefits expense 9.0 Directors’ remuneration 10.0 Income tax expense 11.0 Loss per share 12.0 Property, plant and equipment 13.0 Prepaid lease payments 14.0 Investment in subsidiaries (continued) 15.0 Investment properties 16.0 Goodwill on consolidation 17.0 Other investments 18.0 Long term receivables 19.0 Inventories 20.0 Trade and other receivables (continued) 21.0 Due from a customer on contracts 22.0 Cash and cash equivalents 23.0 Non-current assets held for sale (continued) 24.0 Borrowings |