Financial statement worksheet progression

The following cycle is applicable to financial statement and secondary working paper worksheets, which will culminate in the final set of financial statements being locked in the system.

Function	Cycle
Creation of worksheets
Completion and approval of worksheets	Mark as complete and ready for review Request changes as part of review Approve worksheet (finalised) to push information from the AFS notes sheet to the live AFS.
Creation of workspace
Lock approved	View of list of worksheets not yet approved Close-off

Creation of worksheets

The following steps are to be taken to create an external note and link it to a specific note in the live AFS.

Each working paper is also linked to a specific ‘Working paper Group’ of the AFS notes section (e.g. capital commitments), as well as specific period.

Layout of worksheets

Given the defined structure of the AFS, financial statement and secondary working paper worksheets are pre-setup for each version of financial statements.

The structure of a worksheet is as follows in sequence:

Sheet	Detail
AFS Notes sheet	This is the sheet which servers as summary sheet of the underlying note specific sheets from the automated data as well as the manual data / amendments included in the ‘Optional Workspace’ sheet. Once the file is signed as completed (by the preparer) and finalized (by the reviewer), the data is pushed to the replica set in the actual live set of AFS.
Note specific sheet/s	This is where automated data from the SFTP files are inserted programmatically (system generated data from the structured data uploaded via SFTP)
Optional workspace	This provides for user to generate data, to amend / adjust / add further inputs for the final consolidated AFS notes sheet. This is specifically where users do not concur with the automated values from the system. Manual overrides needs to be scrutinized prior to push to live AFS, but also serve as consideration for end users to request data sources to be corrected for alignment.

In the Dynamic AFS system, the status of the working paper is provided:

The following status views are possible per each document.

Status	Detail
WIP	Indicate document is still in process
Completed	Document completed by preparer
Finalised	Document approved by reviewer

Completion and approval of worksheets

Once all working papers are approved on the system, final locking is required. Only ‘User level xxx’ are able to put this AFS into locked mode. Once in locked mode, the AFS roll-values can commence to populate the new

Worksheet cycle	Function
How to mark worksheet as complete	xxx
How to find worksheets not yet approved	xxx
How to submit requests for changes as part of approval process	Given the requirement for worksheet approvals, some worksheet sections are locked for changes or updates, given the data comes from another part in the system. Where applicable, users can edit the data from the originating worksheet. This will again require users to submit these sections for approval. Once approved, the data will be updated to the final worksheet.
How to Approve worksheet	Users with approval roles, can approve worksheets by following the following steps; Xxx Xxx Xxx Once a worksheet is approved, the data from the applicable sheet will be cascaded to the further AFS section.

Locking of AFS

Once all working papers are approved on the system, final locking is required. Only ‘User level xxx’ are able to put this AFS into locked mode. Once in locked mode, the AFS roll-values can commence to populate the new template values as comparatives.

Functionality	Function
How to lock AFS	xxx
How to unlock AFS	Given the requirement for worksheet approvals, some worksheet sections are locked for changes or updates, given the data comes from another part in the system. Where applicable, users can edit the data from the originating worksheet. This will again require users to submit these sections for approval. Once approved, the data will be updated to the final worksheet.
Access to next period set of Financial Statements	Next period AFS versions will already be created and available for the full reporting period of the engagement. However, the setup and access to such versions will only be possible once the final NT template has been approved for specific period.
Access to next period set of Financial Statements	xxx
How to roll-over values	xx

To see the listing of outstanding working papers which are not approved, go to the section: