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1 . What types of policies are typically disclosed in the first note that accompanies financial statements? Give several specific examples. 2 . Why must

1. What types of policies are typically disclosed in the first note that accompanies financial statements? Give several specific examples.
2. Why must organizations disclose their accounting policies in the notes to the financial statements?
3. Why is charity care reported in the notes for not-for-profit healthcare organizations, but revenues and expenses are not recorded separately in the operating statement?
Facing the reality that patients can bring lawsuits against the Healthcare Organization, what, if anything, must be disclosed in the notes to the companys Financial Statements?

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