Rothstein Kass Publishes Updated “Private Equity Fund ProForma Financial Statements Reference Manual” for 2013

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Top Alternative Investment Service Provider Issues Comprehensive Guide for Latest Best Practices in Preparing Financial Statements

Rothstein Kass (, a leading professional services provider to the financial services industry, today announced it has published the third annual updated comprehensive reference guide, “Private Equity Fund Pro Forma – Financial Statements Reference Manual,” for the preparers of financial statements for private equity firms. Drawing on the expertise of the Rothstein Kass Private Equity Practice, the newest iteration of the guide has been updated to reflect the ever-changing regulatory environment and intense scrutiny of the private equity industry. The 2013 guide includes the latest financial statement templates and appendices, as well as a summary of notes to these statements.

“At Rothstein Kass, decades of experience have shown us that transparency and proactive communication between advisers and investors have been consistent, critical aspects of running a successful fund, and recent changes to financial reporting standards have put serious compliance burdens on firms,” said Andrea Kalliaras, Principal. “Providing a pro forma guide to create uniformity in reporting helps to give our private equity clients an understanding of the nuances involved in new financial reporting standards and helps them give confidence to their investors through transparency.”

The reference manual includes templates for the statement of financial condition, statement of operations, statement of changes in partners’ capital, statement of cash flow, as well as the condensed schedule of investments. Notes to financial statements in “Private Equity Fund Pro Forma – Financial Statements Reference Manual” provide guidance on the nature of operations and summary of significant accounting policies, including detailed disclosures relating to fair value measurements, escrow proceeds receivable/Earn-Out payments, committed capital, partners’ capital, management fees, loans payable, related party transactions, unfunded investment commitments, risk factors, financial highlights, internal rate of return and more.

“Despite recent progress made toward uniform industry reporting, current guidelines remain more of an art than a science,” said Andrea Kalliaras, Principal. “Through this updated manual, we are committed to helping private equity managers enhance the consistency and comparability of their reporting and reduce the compliance burden on the firm, allowing them to focus their time and efforts on core investment functions.”

A copy of the reference manual is available by visiting

About Rothstein Kass:

Founded in 1959, Rothstein Kass is a premier professional services firm serving privately-held and publicly-traded companies, as well as high-net-worth individuals and families. With more than 1,000 professionals, the firm provides accounting, advisory, auditing and tax services, as well as a full array of integrated services such as litigation and forensic consulting and concierge and tax accounting to clients across industry spectrums and in all stages of development. Rothstein Kass is widely recognized as a leader in the financial services space, consistently ranking among the top CPA firms serving the Hedge Fund, Private Equity, Venture Capital, Broker Dealer and Family Office segments.

At the core of Rothstein Kass’ remarkable success is a commitment to hiring, developing and retaining employees with the same entrepreneurial spirit that permeates the sophisticated business and financial services communities the firm serves.

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Kathleen O'Toole
Rothstein Kass
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