As mentioned in a previous lesson, the notes to the financial statements expand on balance sheet or income statement information and reveal much more detail. For this discussion, read "Note N, Contingent Obligations and Contingencies," in TJX Companies note disclosures:

TJX Companies Notes to the Financial Statements

In this discussion, give your opinion about whether this note provides useful information to users of the financial statements. Please make substantive comments about the type and amount of information provided, and whether it improves your understanding of TJX's financial position. Also, respond to one or more of your classmates by adding a related thought or by agreeing or disagreeing with their assessment. Provide reasoning to support your position.

Please be sure to review the readings for this lesson prior to making your posts. Its important to understand the GAAP requirements for reporting contingencies.

Please review the Discussion Participation rubric that outlines expectations of grading criteria.