Supplementary Information, Other Information, and RSI

Supplementary income statement

  • Such differences involve methods for measuring the amounts shown in the financial statements of the Group, as well as additional disclosures required by Indian GAAP.
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Schedule of the number of employees by division Schedule of inventory locations Schedule of uncompleted construction contracts Schedule of contractual income Consolidating balance sheet Paid options signals statement of income If you need to include information not required by the accounting framework e.

Bankers or owners sometimes desire such information.

Sometimes the owner has a contract to pay a third party based on a computation. Supplementary information gives you a place for such information.

Supplementary Information and a Preparation Engagement

As you will see below, the supplementary information can be subject to compilation procedure—or not. Consolidating Statements Typically SI is titled as a schedule to distinguish it from the basic financial statements.

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Nevertheless, if consolidated statements are presented in the basic financial statements, it is appropriate to include the consolidating financial statements—the presentation of each separate entity in columnar fashion being brought together into a consolidated total—in the supplementary information. Consolidating financial statements should be titled as statements rather than as schedules.

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Consider your level of responsibility for such information and communicate clearly in your engagement letter and financial statements that no assurance is provided. If SI is included, the accountant should communicate his degree of responsibility in either: An other-matter paragraph in the compilation report or A separate report If the degree of responsibility is communicated in a separate report, that report usually follows the notes to the financial statement and precedes the supplementary information.

To minimize the number of pages in the report, consider communicating your degree of responsibility in an other-matter paragraph in the compilation report.

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Did the accountant apply compilation procedures supplementary income statement SI? Such information is the responsibility of management.

The supplementary information was subject to our compilation engagement. We have not audited or reviewed the supplementary information supplementary income statement do not express an opinion, a conclusion, nor provide any assurance on such information.

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The supplementary information was not subject to our make money bets engagement. We do not express an opinion, a conclusion, nor provide any assurance on such information.

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Supplementary Information — Simple Summary Supplementary information is, by definition, not required in financial statements prepared using the preparation or compilation guidance.

Supplementary information is normally included to provide additional details of information that owners or lenders desire to see.

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Supplementary information is normally titled as a schedule rather than as a statement to differentiate the supplementary information from the basic financial statements. It is appropriate to title consolidating or combining financial statements included in the supplementary information as statements. If supplementary information is included in financial statements issued in a compilation engagement, define your responsibility in the compilation report using an other-matter paragraph or in a separate report which precedes the supplementary information.

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Sample language follows: Our audit was conducted for the purpose of forming an opinion on the basic financial statements as a whole. The [identify the other information] is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.

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