Under International Financial Reporting Standards (IFRS) notes to the financial statements must qualify as an element.

Question

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Notes to the financial statements are not considered an element of the financial statements under IFRS. Instead, they provide additional information to support the elements presented in the statements (like assets, liabilities, equity, income, and expenses) and are essential for understanding the financial position, financial performance, and cash flows of an entity.

Under International Financial Reporting Standards (IFRS) Notes to the Financial