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.
In this case, company A will need to list this contingent liability in the notes to the financial statements. The last type of note to the financial statements lists any claims that creditors may have against a company. The Purpose of Notes. Now that you know what the notes to the financial statements are, let's talk about the purpose of these notes. Because the financial statements are relied upon heavily by potential creditors and investors, as well as current creditors and investors, the Financial Accounting Standards Board (FASB) wanted to ensure that all interested individuals have reliable information on company performance.