The Financial Statement Suite helps you perform financial statement review procedures on 10-K Forms for US publicly listed companies. This guide walks you through the full review workflow in DataSnipper, from importing the forms to exporting your findings.
Video Tutorial
What the video covers
The video demonstrates how to select the current year and prior year 10-K Forms in the Financial Statement Suite, apply automatic tick marks for Mathematical Accuracy, add references for Internal Consistency, review Prior Year Consistency using the automatic suggestions, and export your findings.
Prerequisites
Financial Statement Suite add-on
10-K Forms for a US publicly listed company
Start Procedure
Import your 10-K Forms related to Current Year and Prior Year in review into DataSnipper.
Open the Financial Statement Suite (FSS) and select the respective 10-K Forms for 'Current year' and 'Prior year'.
Starting with Mathematical Accuracy, on the left hand side of your FSS window you'll see the suggestions that it automatically found. You can apply the suggested tick marks for both rounding errors and bigger misstatements.
Next, inspect the statements throughout the document and use the automatic tick marks, as well as the calculator to apply your checks.
Moving on to Internal Consistency, you can manually add the automatic references with tick marks to either the notes or to other statements.
Simply click on the balance in the statement and open the automatic tick mark. In the tick mark window go to "References" and add the automatic references to the Notes of the respective balance.
To finalize, inspect Prior Year Consistency by checking the automatic suggestion generated by the FSS and apply the one relevant to your review.
Once the suggested tick mark is applied an automatic comment will be left on said tick mark stating if the balance is or not consistent with prior years 10-K Form.
Once completed, you can choose to export your findings as PDF.