City of Wasco, CA Demographic Information. * Demographic data is based on information taken from the 2000 Census. City of Wasco, CA covers 1 Area Code.
The notes to the financial statements also must disclose claims by creditors against the assets of the company. The note shows how the company is financing present and future costs. It also gives the user of the financial statements a look at future cash flows, which can affect the payment of dividends.
Auditors Use Footnotes Too. Most companies must be audited at some point. It is up to the auditor to provide a legal statement of validity for financial statements. One resource the auditor will use are the notes to the financial statements. For this reason, the information in the footnotes is just as important as the information contained within the statements, particularly from a regulatory perspective. If the financial statements are error free, but there are errors within the notes, the auditor should issue negative remarks.