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  2. Examples of disclosures in accounting include123:
    • The nature and justification of a change in accounting principle
    • The nature of a non-monetary transaction
    • The nature of a relationship with a related party with which the business has significant transaction volume
    • The amount of encumbered assets
    • The amount of material losses caused by the lower of cost or market rule
    • A description of any asset retirement obligations
    • Encumbered or pledged assets
    • Related party transactions
    • Going concerns
    • Goodwill impairments
    • Accounting changes
    • Accounting errors
    • Insurance contract modifications
    • Noteworthy events
    Learn more:

    Several examples of full disclosure involve the following items:

    • The nature and justification of a change in accounting principle
    • The nature of a non-monetary transaction
    www.accountingtools.com/articles/the-full-disclosur…
    – Some other examples of transactions and events that need to be disclosed in the financial statement footnotes include encumbered or pledged assets, related party transactions, going concerns, and goodwill impairments.
    www.myaccountingcourse.com/accounting-principl…

    Key Points

    • All relevant information must be disclosed. "Relevant" means any context that may impact a financial statement's reliability.
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