present fairly in accordance with gaap

Presentation1

1. 235-10Overall235 Notes to Financial Statements

   ASC 235-10 requires an entity whose financial statements purport to present fairly financial position, cash flows, and results of operations in accordance with GAAP to include a description of all significant accounting policies as an integral part of those statements (235-10-50-1). "Accounting policies" are the specific accounting principles and the methods of applying them that management judges most appropriate in the circumstances (235-10-05-3). The disclosure must cover principles and methods that materially affect the financial statements, especially selections among acceptable alternatives, industry-peculiar methods, and unusual or innovative applications of GAAP (235-10-50-3).