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12/11/2019
Private equity: Illustrative financial statements
These illustrative financial statements, produced by CohnReznick, provide examples of private equity financial statements. They can serve as a set of relevant GAAP-compliant examples. Private equity fund managers can use them as a master guide, with sample disclosures for common scenarios.
This set of illustrative financial statements includes:
- Relevant guidance from the FASB Accounting Standards Codification; AICPA Technical Questions and Answers; and AICPA Audit and Accounting Guide on investment companies
- References to applicable literature so the user can learn additional information about each disclosure and tailor it to their private equity fund’s circumstances
- A sample disclosure related to FASB’s Accounting Standards Update (ASU) No. 2018-13, Fair Value Measurement (Topic 820), “Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which is effective for all entities for fiscal years, and interim periods within them, beginning after Dec. 15, 2019.
Subject matter expertise
Christopher Aroh
CPA, Partner - Financial Sponsors Industry Leader
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Hedge Funds: Illustrative Financial Statements
This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.