Disclosure Checklist for Commercial Businesses
The disclosure checklist presented below provides a quick reference to those disclosures that are common to the financial statements of most commercial business enterprises. Selected references to items required by the SEC, for public companies only, are also incorporated as many private company financial statement preparers believe these to be “best practices” to be emulated, but this checklist does not purport to be suitable for use as a comprehensive SEC disclosure checklist, nor is it designed to be used for reporting entities that are not-for-profit organizations, state or local governments, or that are engaged in other industries that are subject to specialized accounting and reporting rules. Readers are advised to access the FASB Codification for additional details on requirements.
The checklist contains chapter references from Wiley GAAP 2013. The chapter referenced for each topic offers more information about implementing the requirements and examples.
Numbers preceding the topics refer to the relevant FASB ASC Topic.
|205||Presentation of Financial Statements||1205|
|225-20||Extraordinary and Unusual Items||1208|
|230||Statement of Cash Flows||1209|
|235||Notes to Financial Statements||1209|
|250||Accounting Changes and Error Corrections||1210|