Practitioner Edition

12.4 Reports: Sample Reports – Asset Reports

Asset Reports include Statements of Financial Position in simple, comparative or detailed format, and a Capital Gains Report.

12.4.1  Statement of Financial Position

A Statement of Financial Position provides a summary report of Assets, Liabilities and Member Benefits Payable as at a selected date.

The total value of Fund investments in each Asset class is listed, then added to determine the total asset value. Liabilities are deducted to determine the net assets available to pay benefits.

The total member benefits opening balance is displayed, along with the total of unallocated income and expenses (if any) to determine the total accrued benefit.


NOTE:  This report does not display balances for individual members. Nor does it segregate assets or liabilities.


The format of this report is identical to the Statement of Financial Position – Comparative (see sample in 12.4.1.2) except that it shows the position only at the selected date and does not expose figures for past periods.

 

12.4.2 Statement of Financial Position – Comparative

The Statement of Financial Position -Comparative provides an identical report to the Statement of Financial Position, but adds a column to display the previous year’s totals.

The only filter available is report date. The report will display a summary of assets and liabilities as at the selected date, and as at the previous 30 June.

stmtfinancialpositon_comparativepdf

View Sample PDF Report: Statement of Financial Position Comparative

12.4.3 Detailed Statement of Financial Position

Generating a Detailed Statement of Financial Position enables you to see the individual values of each investment and greater detail of the types of liabilities of the Fund.

Again, the only filter available is date. The report will reveal the Fund position as at the date the user selects.

stmtfinancialpositon_detailedpdf_full

View sample PDF Report: Detailed Statement of Financial Position

12.4.4 Capital Gains Report

The Capital Gains Report offers many more filtering options. You can select the Fund Account, Entire Fund, or individual member accounts.

You can also an ”as of” date or a ”to” date, or you can choose a financial year. Note that choosing a financial year will automatically reset the ”as of” and ”to” dates and 1 July and 30 June in the selected financial year.

And you can choose from Long term or Short term.

capitalgains_selections capitalgains

The resulting report will show the date purchased, quantity (if applicable), date sold, cost basis, sale price and realized gain.

 

 

 


about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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