Clive McKegg
posted this on July 19, 2010 10:45 am
It;s been suggested that this be driven by the lead schedules to calculate the income, expenditure, assets and surplus automatically for tests 1-4 under "consider these major areas" with the user manually typing in materiality in the "overall materiality level to be adopted"
Again this is something we will look at - we agree this would be helpful but requires a new feature to be added to the code which we will have to think through as we like to make keep the software very much a cohesive unit where everything we add contributes to the whole rather than just 'hacking' on features. We do want to add the ability to create a 'dummy' set of accounts from the trial balance, perhaps eventually a full report writer to produce complete financial statements, so I think it would make sense to tie this in to that feature as it will involve calculating total expenses, assets etc.
Comments
The potential for a report writer feature is very interesting!
Would be ideal if we could link materiality calculations to risk assessment and calculate based on trial balance groupings. Would still need to be able to override manually for specific areas.
Also like the idea of a report writer component