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What information we want?
We want information about systems in financial reporting telling "what is" or " "what happened" compared to
what "what should be" or "what should have happened".
Based on the table about financial reporting process
we find a need for accounting systems to ensure the following:
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| C01) |
Comparison of reporting plans with identified needs due to be satisfied
and obligations due to be fulfilled.
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| C02) |
Comparison of book-keeping entries with events underlying them
in terms of financial reporting assertions and GAAPs.
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| C03) |
Comparison of balances of assets and debts with veryfying sources of information.
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| C04) |
Comparison of financial statement items (balances) with respective account balances of book-keeping.
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| C05) |
Comparison of contents of steps in producing financial statements and annexes
with respective items of acconting instructions.
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| C06) |
Comparison of contents of annual report with financial statements and its annexes.
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| C07) |
Comparison of contents of annual report with respective items of regulations.
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| C08) |
Comparison of contents and dates of financial statements' publishments with respective plans
and items of regulations.
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| C09) |
The things that the staff is most worried in the accounting systems that are
used in the financial reporting process.
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