Is existence/occurrence a relevant disclosure for "Presentation and Disclosure"?

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  • August 26, 2013 at 3:14 am #179907
    barelystayingsane
    Member

    The Becker text says no. The Becker flashcard says yes. Anyone know which one is correct?

    Thanks!

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  • August 26, 2013 at 3:15 am #434243
    barelystayingsane
    Member

    The title should say relevant *assertion*. Sorry!

    August 26, 2013 at 3:41 am #434244
    Anonymous
    Inactive

    Honestly, I would say no based on the following logic:

    If I am looking at financials and I see a disclosure would I really want to take the time to make sure that disclosure is backed up by evidence? I feel like I would be more concerned with disclosure that should be there but aren't (completeness) or to make sure that the disclosure that is there is correctly explaining the subject matter (understandable).

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