My smart padlet by Yeoh Yee Kang https://padlet.com/i19017073/j4ss8xxxk7ysjll5 en-us 2023-04-11 08:55:30 UTC 2023-04-11 09:12:04 UTC hello@padlet.com Compilation engagement i19017073 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549903713 2023-04-11 08:55:53 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549903713 i19017073 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549904331 Refers to present in the form of financial statement information that is the representation of the management or owners. ]]> 2023-04-11 08:56:40 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549904331 i19017073 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549906509
  • Do not have to include footnotes.  
  • Accountants do not have to be independent.  
  • No assurance provided.  
  • The date of completion = the date of the accountant's report.  
  • Each page of the compiled financial statements should include: “SEE ACCOUNTANTS' COMPILATION REPORT". 

    • ]]>     2023-04-11 08:59:31 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549906509     Common Compilation Procedures i20019193 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908355 2023-04-11 09:01:38 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908355 1. Understanding the client's business i20019193 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908671 The CPA obtains an understanding of the client's business, including its accounting policies and procedures, and the nature of its operations.]]> 2023-04-11 09:02:04 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908671 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908786 The purpose of a compilation engagement is to assist management in presenting financial information (including prospective financial information) that is the representation of management in the form of financial statements without providing any assurance on the accuracy or completeness of that information.

    ]]>     2023-04-11 09:02:13 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908786     2. Obtaining financial information. i20019193 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908996 The CPA obtains financial information from the client, which includes trial balances, general ledgers, and other relevant documents. ]]> 2023-04-11 09:02:28 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549908996 3. Compiling financial statements. i20019193 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549909358 The CPA compiles the financial information provided by the client into a financial statement, such as a balance sheet or income statement. ]]> 2023-04-11 09:02:59 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549909358 4. Reviewing the financial statement. i20019193 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549909753 The CPA reviews the financial statement to ensure that it is presented in accordance with the applicable financial reporting framework, such as Generally Accepted Accounting Principles (GAAP). ]]> 2023-04-11 09:03:32 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549909753 5. Communicating with the client. i20019193 https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549909975 The CPA communicates with the client to resolve any issues that arise during the compilation process and to obtain any additional information that may be required. ]]> 2023-04-11 09:03:50 UTC https://padlet.com/i19017073/j4ss8xxxk7ysjll5/wish/2549909975