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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10Q? QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended
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The basis of presentation refers to the accounting principles and methods that an organization uses to prepare its financial statements.
Organizations such as companies, non-profits, and governmental entities that prepare financial statements are required to file a basis of presentation.
To fill out a basis of presentation, an organization must disclose its accounting policies, the basis used for financial reporting, and any significant judgments made in preparing the financial statements.
The purpose of the basis of presentation is to provide users of financial statements with a clear understanding of the accounting framework and policies used to prepare the financial statements.
Information that must be reported includes the accounting policies adopted, the basis of measurement used, and any relevant assumptions or estimations made by the management.
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