Chapter Part 1-Instructions 1 General 1 Guidance Considered in This Edition 2 Instructions 2 Part 2-Financial Statements and Notes Checklist 5 I. General 7 II. Statement of Financial Position 43 III. Statement of Activities 93 IV. Additional Financial Statements 114 Part 3-Auditors' Reports Checklist 121 Part 4-Auditors' Reports Checklist for Audits Performed in Accordance With Government Auditing Standards and the Uniform Guidance 141 I. Reports on Audits Performed in Accordance With GAS 143 II. Reports on Audits Performed in Accordance With the Uniform Guidance 152 Part 5-Accountants' Reports on Compiled Financial Statements or Information or Reviewed Financial Statements Checklist 163 I. Checklist Questionnaire for Compiled Financial Statements, Prospective Financial Information, Pro Forma Financial Information, and Other Historical Financial Information Using AR-C (Clarified) Standards 164 II. Checklist Questionnaire for Review Engagements Using AR-C (Clarified) Standards 168 Part 6-Illustrative Financial Statements, Notes, and Auditor's Report 177
Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards. The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.