CSI CSC2 Exam - Topic 3 Question 15 Discussion

The description of a company's fixed assets, including details about their nature, valuation methods, and depreciation, is typically found in the notes to the financial statements. These notes provide additional context, explanations, and details about the figures presented in the financial statements. The statement of financial position will list fixed assets, but the comprehensive description is found in the notes.

Volume 1, Chapter 11: Corporations and Their Financial Statements, section on 'Notes to the Financial Statements' describes how notes are used to provide critical details about items in the financial statements, including fixed assets.