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A. The different fields for the entity name are used as follows:

Entity NAME in LOWER case

This is derived from the Operating name in the Engagement properties of the CaseWare client file (CLP2) and is used throughout the FS set.

Entity NAME in CAPITALS

This is the UPPERCASE of the ‘Entity NAME in LOWER case’ above and is used on the Cover page and headers of all sections of FS.

Entity NAME for IR4

This is derived from the ‘Entity NAME in CAPITALS’ however it should be changed manually to agree exactly with the name recorded in the Tax Authority database. This is used in company tax returns.

στη γενική

This field appears only when preparing Greek FS in order to choose between ‘της’ and ‘του’ and is used throughout the FS set.

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A. The FS are affected as follows:

• The Independent auditor's report wording changes
• The description of the entity and the Board changes throughout the FS
• Reference to the appropriate legislation changes
• Equity, tax and dividend related notes and accounting policies are affected
• The tax computation changes

The table below shows the default sections for each entity TYPE:

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A. When preparing Partnership financial statements profit is allocated as follows:

1) Trial balance

a. Profit of the year should be allocated through an adjustment to each partner’s current account in accordance with their % share in the profits. The other side to this entry should be in an account which is mapped in the same mapping as the NETINC account.

2) Statement of Profit or Loss

a. The following table is used for the allocation of the profit between the partners:

b. The option ** Different % this year from last year ** is used where the comparative % column is to be printed
c. The button ‘Change % decimal points’ may be used for changing the number of decimals for the %ages where these are not round figures.
d. Partners’ salaries amounts entered in the above table, change the profit allocation as only the remaining profit balance is allocated based on their respective share %.

3) Notes to the financial statements - Partners' current accounts

a. Opening and closing balances are automatically calculated from the TB
b. The profit for the year line is linked to the profit allocation table after the Statement of Profit or Loss
c. Any amounts entered in the rows with the input cells are automatically deducted/added to/from the line ‘Drawings’
d. The option ‘multiple accounts for each partner’ replaces the above table with another one where the balance for each partner can be broken down to more than one types of account.
e. The salary amounts entered in this table are not an allocation of profit. They are part of expenses deducted from net profit for the year. Mapping numbers referring to Directors’ salaries should be used for Partners salaries (Map no 5.T.1. 1, 5.T.2. 1 and 5.T.2. 2)

4) Tax computation

a. The following table is used for the allocation of the taxable profit between the partners:

b. The button ‘Change % decimal points’ in the table under 2) above will affect the number of decimals for the %ages in this table as well.
c. Any partner salaries posted in the books as part of expenses must be added back in the tax computation as they are not allowable for tax purposes and then entered in the table above.
d. Partners’ salaries amounts entered in the above table, change the chargeable profit allocation and only the remaining profit balance is allocated based on their respective % share.

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1. The ENTRY table appears at the beginning of the financial statements and gathers together data which appear in many instances in the financial statements so that the user changes these in one place and these are corrected throughout the set. It also includes various presentation options available to the preparer of the financial statements presentation
2. The various options available in the “Entry table” are explained in the table here below:

Field	Effect on the financial statements
Expand button	This button will expand or contract the entry table to reveal or hide the detailed options available.
Version XXXX.XX.XX	The version number indicates the month and version number of each release and is used only by the support team during support calls.
Enter the company NAME	Defines the entity name used throughout the FS set and the IR4. This is derived from the Operating name in the Engagement properties of the CaseWare client file (CLP2)
Select accounts to be PRINTED	Dropdown with different printing options for the FS. This selection does not affect in any way the content of the FS.
Change ENTITY TYPE	Changing the entity type affects the content of the entire FS set. The changes vary for each of the available types of entities.
Tick this box for - CONSOLIDATED FS	Financial statements” becomes “consolidated financial statements” throughout the set, the auditor’s report and some accounting policies are affected.
UNAUDITED FS	The word 'unaudited' and different auditor’s report options appear in the FS.
Change TEXT repeated numerous times in FS	Used for the preparation of financial statements for entities not in the predefined list by changing the ENTITY name the description of the BOARD of directors and reference to the applicable STANDARDS AND LAWS
IAS 1 Presentation options	Different name options for primary statements of financial position, profit or loss and other comprehensive income, changes in equity and cash flows.
IFRS 7 disclosures to be included	Option to include or exclude extended disclosures in relation to financial risk management.
Alternative PRESENTATION options	Alternative cover and subsequent pages subtitles. Alternative presentation options for profit and loss, other comprehensive income, balance sheet, and cash flow statements. Alternative tax treatment options.
Select YEAR or PERIOD	Changing reference to YEAR or PERIOD throughout the entire set
Select ANNUAL or INTERIM FS	Options relating to preparation of interim financial statements and financial statements not covering a full calendar year. This option affects auditors report, and notes to the FS. For quarterly FS, two extra blank columns are available in the “Income statement” for the user to enter manually the comparative period(s) dates and amounts.
This the first year and comparatives are NOT required	This checkbox will hide all comparative columns and prior year parts of notes. In addition, all references to comparatives in the document text paragraphs are automatically hidden. There is also an option to show opening position for notes such as PPE note.
Define DATES throughout FS	The dates in the FS are updated from the file Engagement properties however these may also be amended under this section the Entry table
Date of SIGNATURE	Defining the signing dates throughout the entire set
CURRENCY options	Defining the financial statement currency. There are different options for the sign in headings and text paragraphs. An option to add an extra column in the primary statements of financial position, profit or loss and other comprehensive income, changes in equity and cash flows for presentation in an alternative currency. Option to convert all input values in the set by using a rate specified by the user.
AUDITOR's report options	Changing the auditor’s report presentation. Option to refer to FS pages in the report. Option to disclose the names of the primary statements of other comprehensive income, changes in equity and cash flows either in full or in short in the 1st paragraph of the report. Option to include header in 2nd and subsequent pages of the report. Selection between 3 auditors as defined in the information store. Choose the signing partner between the 20 different names of partners entered in the information store. Enter the designation of the partner signing the report
CITY in short for clients' signatures	Field for entering the city of the client to be used under the signature of the Board of directors report
Tick this box if a WATERMARK needs to be printed	Adds a watermark in the entire set. Wording of the watermark may be changed where necessary.
Clear\Shade Input Cells on printout.	Usually input cells have grey background on screen which is not printed. This option allows the printing of the grey background of input cells.

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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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