[solved] Of what use, if any, are the notes to the financial statements?
Of what use, if any, are the notes to the financial statements? Give an example of something learned from the footnotes of your company.
Of what use, if any, are the notes to the financial statements? Give an example of something learned from the footnotes of your company.
Answer: The notes to the financial statements contain useful information. They explain what terms mean and expand information. If you want to find out what is in inventories or property and equipment, there are explanations in the notes on page 73. An explanation of the liability for the frequent program can be found on page 75. Financial Derivative Instruments are described on page 77 and in more detail on page 91. Note 10 describes the use of hedging to control fuel costs and the assessment of risk of this program. In note 4, commitments including leases and aircraft on order are described on pages 80 through 83. Note 6 describes long term debt including interest rates on pages 84 through 87. And Note 14, Income Tax explains the difference between accrued tax and tax paid. It is found on pages 106 and 107.
Southwest information from:
https://www.sec.gov/Archives/edgar/data/92380/000009238016000175/luv-12312015x10k.htm#s33F2C1321617BA7BB9B30236ED8E4834
