May 31 Jazzit Fundamentals Update Available

Thursday, June 7, 2018

RP – ENGAGEMENT REPORT

  • REVIEW– Added sample qualification wording to CSRE2400 review report
  • The report will now reflect if the Statement of Retained Earnings/Partner’s Capital/Proprietor’s Capital/Net Asset is sorted BEFORE the Income Statement

  • Added the ability to set the section headings to: Unbold, bold, italics

  • Added the ability to set a custom header on the subsequent pages on the report (if applicable)

EL – ENGAGEMENT LETTER

  • The report will now reflect if the Statement of Retained Earnings/Partner’s Capital/Proprietor’s Capital/Net Asset is sorted BEFORE the Income Statement

JZEL – ENGAGEMENT LETTER (ON/AFTER DECEMBER 14, 2017 ENGAGEMENTS)

  • REVIEW – Added sample qualification wording to CSRE2400 report
  • The report will now reflect if the Statement of Retained Earnings/Partner’s Capital/Proprietor’s Capital/Net Asset is sorted BEFORE the Income Statement
  • Added the ability to set the section headings to: Unbold, bold, italics
  • Added the ability to set a custom header for the title page

TP – TITLE PAGE

  • Added the ability to set a custom header for the title page

CP – HOME MENU

  • If rounding is disabled, and the draft stamp has been turned off, a cover sheet will print before the Title Page indicating this (pictured below)
  • If rounding is disabled, and the draft stamp has been turned off and there exists a significant rounding difference, a cover sheet will print before the Title Page indicating this
  • If rounding is enabled, and the draft stamp has been turned off and a change is made to the financial statements which requires a rounding recalculation, a cover sheet will print before the Title Page indicating this

SC1 – 1-2 YEAR INCOME STATEMENT SCHEDULE

  • Added the ability to include a subtotal which only calculates amounts from the subheading directly above it
    This is done by inserting a subheading at the top of a section of rows you would like to add together, give it a description (in this example ‘Staff expenses’), insert a subtotal at the bottom of the section, and then use the right-click to switch the subtotal from the default calculation to ‘Subtotal from last subheading’

K3A – SIGNIFICANT ACCOUNT POLICIES

  • PROPERTY, PLANT AND EQUIPMENT/ASSETS UNDER CAPITAL LEASE – Added a wording selection which controls the rate and method columns allowing the user to display the columns individually, together or not at all

SC5 – PROPERTY, PLANT AND EQUIPMENT SCHEDULE

  • Added a wording selection which controls the rate and method columns allowing the user to display the columns individually, together or not at all

KU – JOINT VENTURE AND SUBSIDIARIES

  • INVESTMENTS IN LIMITED PARTNERSHIPS – A new note option has been added to display the ownership breakdown of a partnership or joint venture

JZ5YRIS – FIVE YEAR INCOME STATEMENT WITH PERCENTAGE WORKING PAPER

  • Added the ability to include the JZ5YRIS working paper as a page in the financial statements. The working paper is brought in as an external schedule and adopts the header and footer settings of the financial statements

YC – YEAR-END CHECKLIST

Under the ‘Requested Items’ table, we added the following:

  • Added an optional comments column
  • Added the ability to insert section headings
  • Added an input paragraph at the top of the table

IS/IS2 – INCOME STATEMENTS

  • The ‘Discontinued Operations’ section can now be shown as either an income or expense section. The section can also be collapsed to a single line