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Subsequent Events

This workbook is designed to assist with GAAP disclosure requirements for subsequent events, including the disclosure of nonrecognized subsequent events necessary to keep the financial statements from being misleading. FASB ASC 855-10,
Subsequent Events—Overall
, includes accounting and disclosure standards on subsequent events that formerly resided in auditing standards. The new guidance does not apply to subsequent events specifically addressed in other applicable GAAP.

Entering Data

This workbook is designed to hide any steps that are not applicable based on the information and answers provided. Thus, a completed Input worksheet may appear to skip steps or appear randomly arranged. However, the worksheet's conclusions are not affected by this presentation. Based on the information and answers provided in the Input worksheet, the user is either guided to the next relevant question, instructed to provide self-prepared supporting disclosure information, and/or to open the Disclosure worksheet.
Three “textboxes” are included in the Input worksheet. If applicable, two of the three textboxes directly populate the disclosures in the Disclosure worksheet. The final textbox is a “general comments” area to document any workpaper notes, including information supporting the answers provided in the Input worksheet. The general comments textbox does not affect the Disclosure worksheet. See the discussion below for tips on textbox data entry.  
No inputs are necessary for the Disclosure worksheet. The disclosure automatically generates (in rows 6 through 12) each time the Disclosure worksheet is entered. The disclosure is customizable below row 13, allowing the user to provide additional disclosure information (such as pro forma financial information), if necessary.  

Entering Data in Textboxes

The textboxes in the Input worksheet are designed for easier text input than traditional Excel worksheet cells. Click the mouse inside the textbox to enter it. After entering a textbox, the textbox borders will turn green. The base size of a textbox is 4 rows, but it has the capability to expand to accommodate as much input as necessary, and will shrink as text is removed. However, after approximately 30-35 rows of text have been entered, the size of the textbox will remain fixed and a scroll bar will appear to allow for viewing of the entire entry. Note that when a scroll bar is present, only the visible portion of text is printable. Click the mouse outside of the textbox to exit it. After exiting a textbox, its borders will return to the normal grey color. Hitting the "Tab" key while in a textbox will also exit the textbox. See the section “General Workpaper Functionality and Tips for Entering Data” for further explanation of textbox functionality.