In Finance, What Is an Approved List?

The date on which the financial report is approved for publication refers to the date on which the board of directors approves the publication of the financial report, and generally refers to the date on which the entity or individual responsible for the content of the financial report approves the release of the financial report to the outside of the enterprise. "Unit or individual" here refers to the owner, a majority of the owners, the board of directors or a similar management unit. Because the financial report was reported before the shareholders 'meeting, the date of approval of the financial report is not the date of the shareholders' general meeting for approval, let alone the date of the audit report issued by the certified public accountant.

Financial report approval date

Right!

The date of approval of the financial report is

example

A family

In this example, the time period for events after the balance sheet date is January 1, 20 × 8 (including January 1, the same below) to April 22, 20 × 8.

It is worth noting that events occurring between the date when the board of directors approves the financial report and the date when the company actually announces them are also events after the balance sheet date. According to "Enterprise Accounting Standards No. 29-Events after the balance sheet date" To deal with the principles stipulated, and thus affect the date on which the financial report is publicly announced, the date on which the board of directors approves the public announcement shall prevail.

In this example, the date on which the financial report can be published with the approval of the board of directors is April 22, 20 × 8, and the actual date of publication is April 25, 20 × 8, if it is between April 22 and 25 If a major event occurs between the time and the number of items related to the financial statements needs to be adjusted or disclosed in the notes to the financial statements in accordance with the requirements of the Accounting Standards for Business Enterprises, the adjustment and explanation of the financial report and the approval date of the board of directors will be 20 × 8 years. On April 28, the actual public announcement date was April 30, 20 × 8, and the period after the balance sheet event covers the period from January 1, 20 × 8 to April 28, 20X8. ^[1]

After the promulgation of the new auditing standards, it is clearly stipulated that the CPA shall not issue an audit report until the financial report is approved for publication.