Final answer:
Several items require supplemental disclosures in the notes to the financial statements, including revenue recognition policies, contingent liabilities, related party transactions, and segment reporting.
Step-by-step explanation:
In the notes to the financial statements, there are several items that require supplemental disclosures. These include revenue recognition policies, contingent liabilities, related party transactions, and segment reporting.
Supplemental disclosures provide additional information about these items that may be useful for investors, creditors, and other financial statement users. For example, revenue recognition policies disclose the specific criteria used to recognize revenue, while contingent liabilities disclose potential future obligations that are dependent on uncertain events.
Related party transactions disclose any transactions between the company and its related parties, such as key management personnel, their close family members, and entities they control. Segment reporting, on the other hand, discloses information about the company's operating segments and their financial results.