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Suggested GASB 68 Pension Footnotes for Employers Financial Statements for the Fiscal Year Ended December 31, 2019 [Using PERA Valuation/Measurement Date 6/30/2019]Summary of Significant Accounting
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Suggested footnotes for entities are additional disclosures or notes that provide context and detail regarding the financial statements, helping to clarify the financial position and performance of the entity.
Entities that prepare financial statements in accordance with applicable accounting standards, such as GAAP or IFRS, are required to file suggested footnotes.
To fill out suggested footnotes, entities should ensure that they provide relevant information that adds clarity to the financial statements, including explanations about accounting policies, significant events, and any contingent liabilities.
The purpose of suggested footnotes for entities is to provide users of the financial statements with additional information that is necessary for a comprehensive understanding of the financial position and performance of the entity.
Suggested footnotes must report information such as significant accounting policies, commitments and contingencies, related party transactions, and any other material information that could influence the users' understanding of the financial statements.
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