Prospective financial information

著者

• American Institute of Certified Public Accountants

書誌事項

Prospective financial information

AICPA

（Guide / AICPA）

American Institute of Certified Public Accountants, c2013-

• November 1, 2012
• April 1, 2017

注記

November 1, 2012: "With conforming changes as of November 1, 2012"

"Wiley"--Cover

Includes index

内容説明・目次

巻冊次

November 1, 2012 ISBN 9781937351854

内容説明

Ensure you have the most current authoritative guidance related to Prospective Financial Information. AICPA Audit & Accounting Guides are developed and updated to provide guidance and discussions specific to current industry developments and trends. The 2012 Prospective Financial Information Guide provides information for entities that prepare prospective financial information, as well as practitioners who compile, examine and perform other agreed upon procedures on prospective financial information. This AICPA Guide has been fully conformed to reflect the new standards resulting from the Clarity Project. Fully incorporating the clarified auditing standards into this year s edition of the guide enables auditors to further their understanding of these recently issued auditing standards, as well as begin updating their audit methodologies, resources, and tools prior to the clarified auditing standards effective date. Additionally, this approach gives auditors the opportunity to review and understand the changes made by their third-party audit methodology and resource providers, if applicable. The clarified auditing standards are effective for audits of financial statements for periods ending on or after December 15, 2012 (calendar year 2012 audits). This guide includes relevant guidance contained in applicable standards and other technical sources. Illustrative engagement letters, representation letters and sample reports are also included. The appendixes include excerpts from the SEC rules regarding financial projections and IRS regulations regarding tax shelter opinions. All content is reviewed by industry experts and the appropriate AICPA senior committee.

目次

Part 1 General Guidance Regarding Prospective Financial Information 1 Introduction .01- .14 Structure of the Guide .06- .07 Relationship to Other Literature .08- .13 Effective Date .14 2 Scope .01- .10 Presentations .01- .03 Practitioners Services . .04- .10 3 Definitions .01- .16 4 Types of Prospective Financial Information and Their Uses .01- .09 5 Responsibility for Prospective Financial Information .01- .05 Part 2 Guidance for Entities That Issue Prospective Financial Statements 6 Preparation Guidelines .01- .46 7 Reasonably Objective Basis .01- .41 8 Presentation Guidelines .01- .51 Uses of a Financial Forecast .02- .02P Responsibility for Financial Forecasts .03- .04 Title .05- .05P Format . .06- .10 Date .11 Accounting Principles and Policies .12- .16 Materiality .17 Presentation of Amounts .18- .21 Assumptions .22- .31 Period to Be Covered .32- .43 Disclosures at the End of the Forecast Period .35- .39 Disclosures About Periods Beyond the Forecast Period .40- .43 Chapter Paragraph 8 Presentation Guidelines continued Distinguishing From Historical Financial Statements .44- .45 Correction and Updating of a Financial Forecast .46- .51 9 Illustrative Prospective Financial Statements .01- .05 Part 3 Guidance for Practitioners Who Provide Services on Prospective Financial Statements 10 Types of Practitioners Services .01- .32 Reporting Considerations .11- .13 Reasonably Objective Basis for Presentation .14- .15 Change in Engagement to a Lower Level of Service .16- .18 A Practitioner s Responsibility for a Financial Forecast That Contains Disclosures About Periods Beyond the Forecast Period .19 A Practitioner s Responsibility If a Financial Forecast Is Included in a Document Containing Historical Financial Statements .20- .23 Practitioner-Submitted Documents .20 Client-Prepared Documents .21- .23 Other Information in a Client-Prepared Document Containing a Financial Forecast .24- .31 Materiality .32 11 Tax Shelter Opinions .01- .10 12 Compilation Procedures .01- .13 Materiality .05 Training and Proficiency . .06 Planning a Compilation Engagement . .07- .10 Compilation Procedures .11 Documentation .12- .13 13 Illustrative Engagement and Representation Letters for a Compilation .01- .04 Engagement Letter .01- .01P Representation Letter .02- .04 14 The Practitioner s Compilation Report .01- .18 Modifications of the Standard Compilation Report . .09- .13 Presentation Deficiencies or Omitted Disclosures .09- .11 Chapter Paragraph 14 The Practitioner s Compilation Report continued Reporting on Information Accompanying a Financial Forecast in a Practitioner-Submitted Document .12- .13 Other Reporting Examples .14- .18 Reporting on a Financial Forecast That Includes a Projected Sale of an Entity s Real Estate Investment at the End of the Forecast Period .16 Reporting If the Financial Forecast Includes Disclosures About Periods Beyond the Forecast Period .17- .18 15 Examination Procedures .01- .54P Materiality .05 Training and Proficiency .06- .07 Planning an Examination Engagement .08- .11 Examination Procedures .12- .40 The Responsible Party s Experience in Preparing Financial Forecasts .15 Prospective Period .16- .17 Process by Which the Responsible Party Develops Its Financial Forecasts .18- .19 Procedures to Evaluate Assumptions .20- .20P Development of Assumptions . .21- .22 Support for Assumptions .23- .31 Support for Tax Assumptions .32- .34 Evaluating Preparation and Presentation .35- .38P Using theWork of a Specialist .39 Assumptions Dependent on the Actions of Users .40 Documentation .41- .48 Illustrative Examination Procedures . .49- .54P 16 Illustrative Engagement and Representation Letters for an Examination .01- .04 Engagement Letter .01- .01P Representation Letter .02- .04 17 The Practitioner s Examination Report .01- .28 Modifications to the Practitioner s Opinion .06- .15 Other Modifications to the Standard Examination Report .16- .28 Reporting on a Financial Forecast That Includes a Projected Sale of an Entity s Real Estate Investment at the End of the Forecast Period .20 Chapter Paragraph 17 The Practitioner s Examination Report continued Reporting If the Financial Forecast Includes Disclosures About Periods Beyond the Forecast Period .21- .22 Reporting on Information Accompanying a Financial Forecast in a Practitioner-Submitted Document .23- .25 Reporting If the Examination Is Part of a Larger Engagement .26- .27 Lack of Independence .28 18 Considerations for the Practitioner Reporting on an Examination of a Financial Forecast Contained in a Public Offering Statement .01- .10 Procedures Between the Date of the Practitioner s Report and Effective Date in 1933 Act Filings .02- .05 The Practitioner s Consent .06- .08 Experts Section of 1933 Act Filings .09 Description of Additional Procedures and Comfort Letters .10 19 Application of Agreed-Upon Procedures .01- .29 Engagement Letter .05 Procedures to Be Performed .06- .10 Documentation .11- .18 Representation Letter .19- .20 Involvement of a Specialist .21- .23 Adding Parties as Specified Parties (Nonparticipant Parties) .24 Change to an Agreed-Upon Procedures Engagement From Another Form of Engagement .25- .29 20 Illustrative Engagement and Representation Letters for Agreed-Upon Procedures Engagements .01- .04 Engagement Letter .01- .01P Representation Letter .02- .04 21 The Practitioner s Report on the Results of Applying Agreed-Upon Procedures .01- .09 Findings .02- .05 Explanatory Language .06 Dating of Report .07 Restrictions on the Performance of Procedures .08 Knowledge of Matters Outside Agreed-Upon Procedures .09 22 Guidance on the Practitioner s Services and Reports on Prospective Financial Statements for Internal Use Only .01- .09 Procedures .03- .04 Reporting .05- .09 Part 4 Guidance for Practitioners Who Provide Services on Partial Presentations of Prospective Financial Information 23 Partial Presentations of Prospective Financial Information .01- .24 Uses of Partial Presentations .03- .04 Preparation and Presentation of Partial Presentations .05- .15P Practitioner s Involvement With Partial Presentations .16- .24 Compilation and Examination Procedures .20 Applying Agreed-Upon Procedures to Partial Presentations .21 Standard Practitioner s Compilation, Examination, and Agreed-Upon Procedures Reports .22- .24 Appendix A SEC Policy on Projections B SEC Safe Harbor Rule for Projections C IRS Regulations Regarding Tax Shelter Opinions (Circular 230) D Private Securities Litigation Reform Act of 1995 E Schedule of Changes Made to the Text From the Previous Edition Index

巻冊次

April 1, 2017 ISBN 9781943546862

内容説明

This resource provides interpretive guidance and implementation strategies for all preparation, compilation examination and agreed upon procedures on prospective financial information: Helps with establishing proven best-practices. Provides practical tools and resources to assist with compliance. Exposes potential pitfalls associated with independence and ethics requirements. SSAE No. 18 SSARS No. 23 Preparation and compilation engagements now fall under the SSARSs The attestation engagements require an assertion from the responsible party

目次

1 Introduction .01-.12 Structure of the Guide .06 Relationship to Other Literature .07-.12 2 Scope .01-.10 Presentations .01-.03 Practitioners' Services .04-.10 3 Definitions .01-.14 4 Types of Prospective Financial Information and Their Uses .01-.09 5 Responsibility for Prospective Financial Information .01-.04 6 Preparation Guidelines .01-.51 7 Reasonably Objective Basis .01-.42 8 Presentation Guidelines .01-.72 Prospective Financial Statements .02-.56 Uses of Prospective Financial Statements .02-.03 Responsibility for Prospective Financial Statements .04-.05 Title .06-.07 Format .08-.12 Date .13 Accounting Principles and Policies .14-.19 Materiality .20 Presentation of Amounts .21-.24 Assumptions .25-.36 Period to Be Covered .37-.48 Distinguishing From Historical Financial Statements .49-.50 Correction and Updating of a Financial Forecast .51-.56 Partial Presentations .57-.72 Uses of Partial Presentations .59-.60 Preparation and Presentation of Partial Presentations .61-.72 9 Illustrative Prospective Financial Information .01-.08 10 Types of Practitioners' Services .01-.39 Types of Services .03-.16 Responsibility for Prospective Financial Information .17 Reasonably Objective Basis for Presentation .18-.20 Quality Control .21-.26 Independence .27-.32 Change in Engagement to a Lower Level of Service .33-.37 A Practitioner's Responsibility for Prospective Financial Information That Contains Disclosures About Periods Beyond the Prospective Period .38 Materiality .39 11 Preparation of Prospective Financial Information .01-.52 Introduction .01-.02 Applicability .03-.09 Independence .10-.11 Requirements .12-.51 General Principles for Performing Engagements to Prepare Prospective Financial Information .12-.13 Preconditions for Accepting an Engagement to Prepare Prospective Financial Information .14-.21 Agreement on Engagement Terms .22-.27 Knowledge and Understanding of the Entity's Financial Reporting Framework .28-.32 Knowledge of Other Matters 33 Preparing the Prospective Financial Information .34-.40 Preparation of Prospective Financial Information That Contains a Known Departure or Departures from the AICPA Presentation Guidelines .41-.44 Preparation of Prospective Financial Information That Omits Substantially All Disclosures Required by the AICPA Presentation Guidelines .45-.46 Communication With the Responsible Party .47-.48 Documentation Requirements .49-.51 Appendix A-Illustrative Engagement Letters for a Preparation Engagement .52 12 Compilation Procedures .01-.37 Introduction .01-.03 Applicability .04-.05 Requirements .06-.32 General Principles for Performing and Reporting on Compilations of Prospective Financial Information .06-.07 Preconditions for Accepting a Compilation Engagement .08-.14 Agreement on Engagement Terms .15-.20 Knowledge and Understanding of the Presentation Guidelines and Underlying Accounting Principles Used by the Entity .21-.25 Knowledge of Other Matters .26 Reading the Prospective Financial Information .27 Other Compilation Procedures .28-.32 Documentation Requirements .33-.36 Appendix A-Illustrative Engagement Letters for a Compilation .37 13 The Practitioner's Compilation Report .01-.31 Omission of Substantially All the Disclosures Required by the AICPA Presentation Guidelines .05-.07 Multiple Periods .08-.09 Lack of Independence .10-.12 Known Departures From the AICPA Presentation Guidelines .13-.19 Supplementary Information .20-.22 Alert That Restricts the Use of the Practitioner's Compilation Report .23-.25 Emphasis-of-Matter or Other-Matter Paragraphs .26-.27 Reference to Historical Financial Statements .28 Reporting on a Financial Forecast That Includes a Projected Sale of an Entity's Real Estate Investment at the End of the Forecast Period .29 Reporting If the Prospective Financial Information Includes Disclosures About Periods Beyond the Prospective Period .30-.31 14 Examination Procedures .01-.71 Engagement Acceptance .06-.11 Materiality .12 Training and Proficiency .13-.17 Requesting a Written Assertion .18-.19 Planning an Examination Engagement .20-.30 Engagement Understanding .20-.21 Engagement Strategy .22-.26 Assessing Risks of Material Misstatement .27-.30 Procedures to Evaluate Assumptions .31-.50 Development of Assumptions .31-.34 Evaluation of Assumptions .35-.37 Support for Assumptions .38-.50 Evaluating the Preparation and Presentation of Prospective Financial Information .51-.52 Written Representations .53-.56 Assumptions Dependent on the Actions of Users .57 Additional Considerations for Partial Presentations .58-.59 Other Information .60-.64 Illustrative Examination Procedures .65-.70 Appendix A-Illustrative Engagement and Representation Letters for an Examination .71 15 The Practitioner's Examination Report .01-.27 Modifications to the Practitioner's Opinion .09-.27 Additional Considerations for Partial Presentations .20-.21 Reporting on a Financial Forecast That Includes a Projected Sale of an Entity's Real Estate Investment at the End of the Forecast Period .22 Reporting If the Prospective Financial Information Includes Disclosures About Periods Beyond the Prospective Period .23-.24 Reporting If the Examination Is Part of a Larger Engagement .25-.26 Lack of Independence .27 16 Application of Agreed-Upon Procedures .01-.34 Nature of an Agreed-Upon Procedures Engagement .04 Engagement Acceptance .05-.14 Change to an Agreed-Upon Procedures Engagement From Another Form of Engagement .10-.14 Written Assertion .15-.19 Procedures to Be Performed .20-.26 Use of Specialists and Internal Auditors .23-.26 Representation Letter .27-.30 Adding Parties as Specified Parties (Nonparticipant Parties) .31-.33 Appendix A-Illustrative Engagement and Representation Letters for Agreed-Upon Procedures Engagements .34 17 The Practitioner's Report on the Results of Applying Agreed-Upon Procedures .01-.13 Findings .02-.07 Explanatory Language .08 Restrictions on the Performance of Procedures .09-.11 Responsible Party Refuses to Provide a Written Assertion .10-.11 Adding Nonparticipant Parties .12 Knowledge of Matters Outside Agreed-Upon Procedures .13 Appendix A Overview of Statements on Quality Control Standards B Schedule of Changes Made to the Text From the Previous Edition Index of Pronouncements and Other Technical Guidance Subject Index

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詳細情報

• NII書誌ID(NCID): BB25198678
• ISBN:
  • 9781937351854
  • 9781943546862
• 出版国コード: us
• タイトル言語コード: eng
• 本文言語コード: eng
• 出版地: New York
• ページ数/冊数: v.
• 大きさ: 23 cm
• 件名:
  • LCSH : Financial statements -- Forecasting
  • LCSH : Financial statements -- Standards
• 親書誌ID:
  • BB24409213