Off-balance sheet items are not directly included in a company's balance sheet because they do not represent actual assets or liabilities owned by the company. these items are disclosed in the notes to the financial statements to provide transparency to stakeholders. They do not represent current, measurable obligations or rights. They are often contingent on future events... So these items are disclosed in notes to account ... I think you got the point ☝️
How does off balancesheet item are addresses while preparing balancesheet.
Off-balance sheet items are not directly included in a company's balance sheet because they do not represent actual assets or liabilities owned by the company. these items are disclosed in the notes to the financial statements to provide transparency to stakeholders.
They do not represent current, measurable obligations or rights.
They are often contingent on future events... So these items are disclosed in notes to account ...
I think you got the point ☝️