(PRWEB) November 6, 2010
JAZZ-it! (http://www.jazz-it.ca) is pleased to annouce an update to their financial statement template to help accounting practitioners in Canada transition from differential reporting to accounting standards for private enterprise (ASPE).
The transition from differential reporting to accounting standards for private enterprise (ASPE) requires practitioners to make a number of changes to the financial statements including: engagement report wording, ASPE transition notes, and removal of differential accounting disclosures.
In order to assist practitioners with this transition, JAZZ-it! has added intelligent diagnostics to their engagement report which allows the practitioner to select between the reporting options.
When ASPE is selected, the JAZZ-it! financial statements check for the differential reporting policy and prompt the practitioner to remove this policy. The JAZZ-it! financial statements will also prompt the practitioner to insert the ASPE transition note. This note is inserted at the beginning of the notes section and can be quickly sorted to any location within the notes section.
When this file is rolled forward in CaseWare, the JAZZ-it! financial statement will automatically switch from ASPE Transition year to ASPE Ongoing. If the ASPE transition note is active, the practitioner will see a diagnostic prompting them to remove this note.
More about JAZZ-it!
JAZZ-it! is a suite of templates including letters, working papers, and financial statements designed to work with CaseWare.
If you would like to know more about JAZZ-it! please call 403-670-7385.
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