17 December 2014
Disclosure is the term used in AUDIT so far as the disclosure of accounting policies are concerned. Presentation is a GENERIC term, normally used for say for example power point presentation, project presentation and so on. The audited accounts are presented before the board meeting....
17 December 2014
Disclosure means Revealing information. e.g.Financial statement footnotes are one way of providing necessary disclosures.
Presentation means Assertions about presentation deal with whether particular financial statement components are properly classified and described. For example, management asserts that long-term liabilities in the balance sheet will not mature in one year. Similarly, management asserts that extraordinary items in the income statement are properly classified and described.
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