A. The options are as follows:

1. Full set – Everything is printed

2. Banker's set – Same as the “Full set” excluding Tax computations in the “Additional information to the income statement” section and minutes and Certificates for Registrar of companies

3. Management – Excludes the following sections

i. Board of Directors and other Officers
ii. Report of the Board of Directors
iii. Independent auditors' report
iv. Statement of recognised income and expense OR Statement of changes in equity
v. Notes to the financial statements – the “Accounting policies part”
vi. Tax computations
vii. Minutes and Certificates for Registrar of companies

4. Statutory set – Same as the “Full set” excluding all Additional information to the income statement

5. Additional information only - All schedules not part of the statutory set.

The table below shows the sections selected for printing for each option:

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A1. The Entity category is automatically set to 'Large'

A2. The following sections will show in financial statements on selecting that the company is a PIE:

Primary statements -
Declaration of the members of the board of directors and the company officials responsible for the financial statements

Report of the Board of Directors -
Implementation and compliance to the Code of Corporate Governance

Independent Auditor's Report-
Changes to wording as per the latest ICPAC Auditors Report Booklet.

Accounting policies -
Segmental reporting

Notes to the financial statements

• Segmental reporting
• Participation of directors in the company's share capital
• Shareholders holding more than 5% of share capital
• Significant agreements with management

A3. Listed in a NON EU market

This option affects only the Independent Auditor's Report as per the latest ICPAC Auditors Report Booklet.

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A. The following sections will be affected on selecting that the entity is a NON – PROFIT organisation:

Entry table - Change TEXT repeated numerous times in FS
The sections ‘ENTITY’, ‘BOARD’ and STANDARDS AND LAWS are expanded to warn user that these may need to be updated to be applicable for the particular type of entity

The following sections are skipped

• Board of directors and other officers
• Report of the Board of Directors
• Statement of changes in equity
• Additional information to the Statement of income and expenses
• All references to ‘Dividends’

Statement of profit or loss and other comprehensive income
This is substituted by the ‘Statement of income and expenses’

Statement of financial position
Retained earnings and accumulated losses are renamed to ‘Accumulated surplus/deficit’

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A. The following sections will be affected on selecting that the entity is NOT REGISTERED in Cyprus:

Entry table - Change TEXT repeated numerous times in FS
STANDARDS AND LAWS - Laws and regulations are changed so as not to refer to the requirements of the Cyprus Companies Law, Cap. 113.

Auditor’s report

• In case the financial statements are for a Branch then this is referred to as ’the Branch’ instead of ‘the Cyprus Branch’
• The section ‘Report on other legal requirements’ is skipped
• Reference to "Section 34 of the Auditors and Statutory Audits of Annual and Consolidated Accounts Laws of 2009 and 2013" is removed.

Taxation

• References to special contribution for defence on notional dividends are removed.
• Tax reconciliation part of tax note is skipped.
• A line which states that dividends payable to non-residents of Cyprus are not subject to withholding tax is added.
• The computations of defence and corporation tax are skipped

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A. The following sections will be affected on selecting that the entity is an investment fund:

Entire financial statements
The description of the entity changes to ‘Fund’

Cash flow statement
The default method of the statement presentation changes from the ‘indirect’ to the ‘direct’ method

Board of directors and other officers
New sections for ‘Custodian’, ‘Investment manager’ and ‘Tax Advisor’

Report of the Board of Directors -
New paragraph is presented for ‘Accounting records‘

Statement of profit or loss and other comprehensive income
Audit and legal fees are presented separately on the face of the statement.

Statement of financial position
‘Cash at bank and in hand’ are presented first rather than last within current assets

Extra notes to the financial statements
New note is presented for ‘Classification and fair values of financial assets and liabilities’

Changes to the notes to the financial statements

• ‘Trade and other payables’ becomes ‘Creditors and accruals’
• Under ‘Related party transactions’ note there is a new section for ‘Investment manager’

In addition to the above for liability funds the following will be affected

1. References to ’Equity’ are hidden
2. ‘Retained earnings’ are not presented in the statement of financial position
3. ‘Total liabilities becomes ’Total liabilities (excluding net assets attributable to holders of redeemable shares)’
4. ‘Net assets attributable to holders of redeemable shares’ are presented at the bottom of the statement of financial position
5. The ‘Statement of changes in Equity’ is substituted by the ‘Statement of net assets attributable to holders of redeemable shares’
6. ‘Profit’ in Statement of profit or loss and other comprehensive income is renamed as ‘Increase in net assets attributable to holders of redeemable shares’
7. All normal references to ‘Dividend’’ are skipped
8. New policy if presented for ‘Dividend income and dividend expense’ and ‘Dividends to holders of redeemable shares’
9. Note for ‘Redeemable shares’ is substituted by the note ‘Net assets attributable to holders of redeemable shares’
10. A note for ‘Other key contracts’ is presented

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A. Yes. The options available are as follows:

1. Using the drop-down button
   Select between the two predefined options 'financial statements' and 'liquidated accounts'.
   
   
2. Using the mouse Right-click
   Select 'Change cell Input Status' which will change the cell into an input cell where it is possible to describe the FS as required.
   
   
3. Using the existing input cells before the wording 'financial statements'
   Add any appropriate description such as 'interim consolidated' financial statements

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A. The following sections will be affected on selecting that the entity is a DORMANT company:

The following sections are skipped

• Independent auditor's report
• Statement of profit or loss and other comprehensive income
• Statement of changes in equity
• Cash flow statement
• Additional information to the Statement of profit or loss and other comprehensive income
• All references to ‘Dividends’
• Letter of representations
• Minutes of the AGM

Report of the Board of Directors
Reference is made in the principal activities that the company is dormant
The following parts are skipped:

• Review of current position, future developments and significant risks
• Dividends
• Independent Auditor

Accounting policies
The following are skipped by default:

• Revenue recognition
• Impairment of assets

Notes to the financial statements
The following are skipped by default:

• Financial risk management
• Expenses by nature
• Tax

Directors’ letter to the Registrar of Companies
This additional letter is prepared confirming that the Company is a small sized company

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A. The template accommodates the preparation of financial statements for entities not in the predefined list as follows:

Entry table - Select Change TEXT repeated numerous times in FS
The sections ‘ENTITY’, ‘BOARD’ and STANDARDS AND LAWS in the entry table include cells that refer to the name of the entity the description of the Board of the entity and the description of the applicable laws for the entity. These cells should be amended accordingly to be suitable for the particular entity and this will update all relevant references in the financial statements document.

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A. There are 4 different options as follows:

• 31 December 2014
• FOR THE YEAR ENDED 31 DECEMBER 2014
• For the year ended 31 December 2014
• Year ended 31 December 2014

Notes

1. The option selected for the cover page may differ from the option selected for the other pages in the financial statements.
2. In case none of the above options are appropriate, the above values may be changed as desired.

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A. Interest income is taxed either as interest or trading income by option in the entry table of the financial statements for the following mappings:

1) One option is to use map no. 3.Q.4. 2 and/or 3.Q.4. 2. 1 for the trading part of interest and 6.T.7. 2 for the interest part.

2) A second option is to use the following mappings which might not be used for the particular client (renamed as appropriate) for the trading part of the income:

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