What additional information for users do the notes to the financial statements provide, that is not provided in the financial statements?

Methods of reporting | ACCT 3001 – Intermediate Accounting I | Walden University

The notes to the financial statements provide additional information for users that is not provided in the financial statements, such as details about significant accounting policies or methods used by the company, details about assets, liabilities and equity accounts on a more granular level including any estimates or assumptions underlying these items, any related-party transactions and commitments entered into by the company during its period of operations.

The notes to the financial statements also cover disclosures pertaining to off-balance sheet arrangements as well as contingencies which may affect future operating performance of the company. Additionally, if applicable certain explanatory notes regarding business acquisitions/dispositions are typically included in this section.