How to prepare your engagement file for half-yearly financial reporting.

How to prepare your engagement file for half-yearly financial reporting.

The FinancialsIFRS Template can produce yearly and half-yearly reports.

The following areas must be setup correctly to accommodate for a half-year file:
 

Engagement Properties

1. From the Engagement tab, select Properties > Reporting Dates tab.

2. Select the Semi-Annual checkbox and ensure Independent is selected from the dropdown box. 

3. For Yearly, ensure Semi-Annual is selected from the dropdown box. 

4. Click OK.
     
Imported Data 

Ensure all appropriate data has been imported correctly for half-yearly periods (see What are the practical issues when setting up a Half-yearly file in CaseWare for more details on importing half yearly data).

Context Period Selector

Single Financial Statements:

Select the period the financial statements are to represent. 


Multi-Financial Statements: (please see Create Multiple Sets of Financial Statements in One Engagement File for more details on how to insert the second set of accounts into an engagement file) 

The following settings accommodate both full year and half-year set of financial statements within the one engagement file:

1. Select Yearly from the Context Period Selector. (full year financials)

2. Right click on the half-yearly financial statements document and select Properties, to display the 'Properties' dialog.
 
3. From the Period: dropdown, select the period the half-yearly financial statements are to represent.
     
Note: Repeat steps 2 and 3 for both the Statement of cash flows worksheet and Segment reporting worksheet if they are to be used in conjunction with the Financial statements document.

Financial Statements

Once you have selected your method of setting up the context for your financials, please do the following to prepare your accounts:

1. Open the financial statements document

2. Within the Entity Information tab, select Titles and terms to display the 'Titles and Terms' dialog. 

3. From the Text for Reporting period: dropdown select Half Year (or alternately enter appropriate description).

4. From the Statements referred to as: dropdown select Interim (or alternately enter appropriate description).

5. Click OK.

6. Within Entity Information, ensure the correct entity is selected.
 
7. Click the Areas required button to view the statement areas that will be generated for the selected entity.

8. Click OK.

This will start the generation process for the accounts.  Once the financial statements are generated, review the comparative reporting column selections for each of the main statements.

9. Click anywhere within the statement, to display the context sensitive statement tab. 

10. Within the Columns area, make the appropriate selection from the Comparative Reporting dropdown.
       

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