Specific information that is provided in the footnotes to an entity’s financial statements. These notes carry certain important facts about an entity’s financial performance and operations that are not revealed elsewhere in the financial statements. These disclosure notes presents, as part of required disclosures or in good faith, significant or material information.

Financial statement footnotes are used as additional or supplementary information to users of financial statements to better understand the information provided in the financial statements. The most common footnotes found in an entity’s financial statements include accounting policies, intangible assets, financial investments, inventory valuation, depreciation of assets, among others.

These notes are also known as disclosure notes or explanatory notes or notes to the financial statements.