Accoutants Report

astra
astra Registered Posts: 13 Regular contributor ⭐ 😼 ⭐
in General accounting discussion
do the AAT produce an accoutants report for sole traders & partnerships ?

Comments

  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    I don't know, but I always use the standard one from VT Accounts. When I'm at work on Monday remind me and I'll copy and paste it for you :)
  • astra
    astra Registered Posts: 13 Regular contributor ⭐ 😼 ⭐
    Cheers
  • monkeypuzzle47
    monkeypuzzle47 MAAT, AAT Licensed Accountant Posts: 134 💫 🐯 💫
    Me too. I always include the accountants report (using vt) when preparing the accounts for sole traders and partnerships. Although its not compulsary, I always include it. I hope this is okay? If anyone knows any different please advise.

    jenny
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    monkeypuzzle47 wrote: »
    Me too. I always include the accountants report (using vt) when preparing the accounts for sole traders and partnerships. Although its not compulsary, I always include it. I hope this is okay? If anyone knows any different please advise.

    jenny
    Jenny,
    I think it's good practice to include it - it's like a disclaimer of sorts, apart from anything else! ;)

    Jenni
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    For sole traders (can be amended for partnerships)

    Statement by client:
    "I approve these accounts which comprise the Profit and Loss Account, Balance Sheet and related notes. I acknowledge my responsibility for the accounts, including the appropriateness of the accounting basis as set out in note 1, and for providing all the information and explanations necessary for their compilation."

    [signature]
    [client name]
    [date]

    [Note 1 reads
    1 Accounting basis
    The accounts have been compiled on a basis that enables profits to be calculated in
    accordance with UK Generally Accepted Accounting Practice and that provides sufficient
    and relevant information to enable the completion of a tax return.]

    Accountant's statement:

    Accountants' report on the unaudited accounts
    to [client name]
    You have approved the accounts for the year ended 31st March 2008 which comprise the Profit and Loss Account, Balance Sheet and related notes. In accordance with your instructions, we have compiled these unaudited accounts from the accounting records and information and explanations supplied to us.

    [signature]
    [Accountancy practice name]
    [Address]

    [Date]

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