Disclosure of Individual Information When Presenting Items in the Financial Statements of a Commercial Organization

Abstract

The article discusses the problems of information disclosure, shows what and to what extent information in reporting should be disclosed in order to meet the requirements of regulations, taking into account the needs of the main users of reporting. When preparing financial statements, companies need to consider whether the primary users of the financial statements will understand that portion of the information that is not disclosed in detail. Similarly, judgments regarding materiality must take into account the quantitative and qualitative characteristics of a piece of information, its relevance and necessity to the primary users of the financial statements. It is important to determine the necessary amount and structure of information to present it in financial statements in a manner that is understandable and sufficient for users.