IFRS Templates - CQS Release Document

					  IFRS 2010
Release Document
Contents

What’s New .......................................................................................................................... 4
  Overview .......................................................................................................................... 4
  Auditor’s Report ................................................................................................................. 4
  Director’s Report ................................................................................................................ 4
  Statement of Financial Position (Balance Sheet) ..................................................................... 4
  Statement of Cash Flows .................................................................................................... 4
  Accounting Policies ............................................................................................................. 5
  Notes to the Financial Statements ........................................................................................ 5
  Tax Computation ............................................................................................................... 6
  Large Enterprise Content .................................................................................................... 6
  Content and Version Management ........................................................................................ 7
  Right Indents .................................................................................................................... 7
  Printing Total Lines in Tables ............................................................................................... 7
  Improved Annotations ........................................................................................................ 7
  Insert Option ..................................................................................................................... 7
  Improved File New from Existing Client Data ......................................................................... 8
  New Builder Mode Options .................................................................................................. 8
  Other Minor Improvements ................................................................................................. 9
  Probe MMX ...................................................................................................................... 10
     Compliance .................................................................................................................. 10
     Redesigned Audit Methodology ....................................................................................... 10
     New Interface ............................................................................................................... 10
     Probe MMX for Small Engagements ................................................................................. 10
Known Issues ..................................................................................................................... 11
Upgrade Guide ................................................................................................................... 12
  Converting Existing Client Files to CaseWare 2010 ............................................................... 12
     Single Conversion ......................................................................................................... 12
     Multiple Conversion ....................................................................................................... 12
  Updating Client Files to Latest Templates ............................................................................ 13
     Update on Existing Financial Statements .......................................................................... 13
     File New from Existing ................................................................................................... 13
     Features of the Two Methods .......................................................................................... 14




     CQS Release Document – IFRS 2010 |
     CQS Technology Holdings Pty (Ltd)                                                                                               Page 2
Contact CQS ...................................................................................................................... 15
  Main Contact Details......................................................................................................... 15
  Help Desk Direct Extension ............................................................................................... 15
  Other Important Details .................................................................................................... 15




     CQS Release Document – IFRS 2010 |
     CQS Technology Holdings Pty (Ltd)                                                                                             Page 3
What’s New
Overview
This release contains content changes as well as new features to ensure improved productivity and general
usability.

Please take note of the changes in the release documentation. This document now includes all information
related to the release.



Auditor’s Report
Changes affected                               Description

Compliance changes                                Auditor’s Report has been updated to SAAPS 3 (revised
                                                   March 2010).



Director’s Report
Changes affected                               Description

Improved functionality                            Directors can now be sorted on the Director’s Report, and
                                                   not only from the Information Store.
                                                   To sort directors, right click on one of the directors’ names,
                                                   select Line, and then either Sort rows, Sort ascending or
                                                   Sort descending.



Statement of Financial Position (Balance Sheet)
An option has been added to the Statement of Financial Position which allows the user to drilldown to
consolidated balance information for a specific line or all line items. This feature is only available when Group
Figures are activated in the file.

To drilldown to consolidated balance information after activation, right click on the relevant line item, select
Consolidation worksheet drilldown, and then select either This item (shows information for only selected
line item) or All items (shows information for all line items).

All lead sheets in the Document Manager can now be converted to show the consolidated balance in one go.
To activate this feature, click on Options | Lead sheet setup | 2 years consolidated view.



Statement of Cash Flows
Changes affected                               Description

Improved functionality                            Dividends paid can now also be allocated between
                                                   activities in the Statement of Cash Flows.

                                                   To allocate dividends paid between activities, right click
                                                   within the Statement of Cash Flows and select Page |
                                                   Settings and format. The different movement options are
                                                   located, and can be selected, under the General tab.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                          Page 4
Accounting Policies
Changes affected                          Description

Improved content                             Financial Instruments have been updated with content
                                              for IFRS 7.



Notes to the Financial Statements
Changes affected                          Description

Compliance                                   New Standards and Interpretations             have    been
                                              updated with the latest standards.



Improved content                             Business combinations have been updated with content
                                              for Consideration paid.

                                             Intangible assets have been updated with content for
                                              Research and Development expenditure expensed during
                                              the year.

                                             Trade and other receivables have been updated with
                                              content for Renegotiated terms.

                                             STC for contingencies has been updated to 10%.



Improved functionality                       Financial liabilities by category now have the option to
                                              insert rows.

                                             When applying indent changes to the Notes, New
                                              Standards and Interpretations will no longer be
                                              affected.

                                             Investment notes now have to option to print landscape.
                                              To print landscape, right click on the heading of the note,
                                              select Print | Landscape.
                                              Notes affected by this change includes:
                                                  -   Investment in subsidiaries
                                                  -   Investment in joint ventures
                                                  -   Investment in associates



Data retention on reconciliation tables      Data entered into the reconciliation tables within the
                                              notes now rolls forward from one year to the next. This
during roll forward
                                              will ensure that values do not have to be re-entered in the
                                              new period.
                                              Notes affected by this change includes:
                                                   -  Biological assets
                                                   -  Investment property
                                                   -  Property, plant and equipment
                                                   -  Goodwill
                                                   -  Intangible assets
                                                   -  Provisions




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                       Page 5
Notes to the Financial Statements (continued)
Sorting of lines in reconciliation tables          When sorting lines in the reconciliation tables, all lines
                                                    will be sorted in the other relevant reconciliation tables
                                                    within the same note. This saves the user the time that
                                                    would be required to sort each table with the same line
                                                    items individually.
                                                    Notes affected by this change include:
                                                         -  Biological assets
                                                         -  Investment property
                                                         -  Property, plant and equipment
                                                         -  Goodwill
                                                         -  Intangible assets
                                                         -  Provisions



Tax Computation
The Tax Computation now has the same look and feel as the Financial Statements. Options such as printing
landscape vs. portrait, and inserting rows, are now available within the Tax Computation.

Formatting options, such as fonts and headers in the Tax Computation, will still have to be done separately
from the Financial Statements.



Large Enterprise Content
A new option has been added to allow reporting of additional content for listed and large enterprises.

A separate license needs to be purchased, and installed with the IFRS template. To purchase this license,
please contact our sales department on +27 11 507 0000, or email info@cqs.co.za.

After installation, this option can be activated by following the steps below:

       Open the Information Store (10.10).
       Under Industry and Special Content, tick Large Enterprise.



This option contains the following additional reports and content:

Changes affected                                Description

Additional reports                                 Corporate governance report

                                                   Audit committee report

                                                   2 Additional blank reports



Additional content                                 Company secretary’s certificate

                                                   Earnings per share




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                            Page 6
Content and Version Management
This feature gives users the ability to:

       Highlight all custom sections after the existing client file is updated;
       Convert custom inserted 2/4 column tables to the latest 3/6 column tables;
       Get individual sections/tables from other files; and
       Restore individual sections/tables to the pre-converted format of the table.

To use this feature, right click within the relevant table(s), and select Content and Version Management.



Right Indents
A new feature has been added to adjust the level of indent for specific needs, whether it is for Financial
Statements with 2/4 columns or 3/6 columns.

This option can be found under Page | Settings and format | Justification/Indent | Right indent.



Printing Total Lines in Tables
The option has been added to turn total lines on or off in certain tables that did not contain totals before, or
hide total lines in tables that already contain totals.This feature does not apply to subtotals within tables.



To use this feature, right click within the table and select Properties.

The following options are available:

Changes affected                                Description

Show                                               This option will turn total lines on.

Hide                                               This option will turn total lines off.

Single line                                        This option will turn total lines off and show a single line
                                                    at the bottom of the table.



Improved Annotations
New options have been added in the Financial Statements for annotations. On the right of each line item in the
statements, there is now a blue plus sign within a circle. Double-clicking on this icon opens a new dialog, with
the ability to insert a note and/or a tickmark.

More than one note or tickmark can be inserted per line item.



Insert Option
The Insert Option is a new feature added in the Financial Statements, which centralises the various insert
options. It is located just below the Documents option menu item. Each of the actions will insert a specific
item based on cursor position.

The following options are available after clicking on the insert button:

Changes affected                                Description

Blank page after this page                         This action inserts a blank page after the current page. After
                                                    inserting, scrolling down to see the inserted blank page
                                                    might be necessary.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                           Page 7
Insert option (continued)
Page break                                       Inserts a page break above the section, based on the cursor
                                                  position.

New note or policy                               Inserts a new note/policy, sub-note, or a sub-heading,
                                                  either above or below the section, based on cursor
                                                  position. (Please note that a sub-note can only be inserted
                                                  within the Large Enterprise reports).

Text section                                     Inserts 3 input paragraphs. Inserts normal or bulleted
                                                  text either above or below the section, based on cursor
                                                  position.

Paragraph                                        Inserts 1 input paragraph. Inserts text or bulleted text
                                                  either above or below the section, based on cursor
                                                  position.

Table                                            Inserts various types of tables, including 4 columns, 5
                                                  column and attendance tables, either at the top or bottom
                                                  of the section, based on cursor position.

Table rows                                       Inserts multiple rows within tables. After selecting the
                                                  Insert Button and clicking on table rows, a dialog will open
                                                  which allows the selection of the type of rows, the number
                                                  of rows and the position of rows to be inserted.

Heading                                          Inserts year headings above the section, based on cursor
                                                  position.



Improved File New from Existing Client Data
When creating a new file from existing client data, the input values entered into the existing file’s Financial
Statements, can now be retained in the new file’s Financial Statements.

The On file new wizard dialog now includes an option to Retain input values from the existing financial
statements. Selecting this option retains these values in the new file’s Financial Statements.



New Builder Mode Options
If access to Builder Mode is required, please contact your firm’s CaseWare Champion.



Changes affected                              Description

Sorting Statements within the Financials      The Financial Statements now provide the option to sort the
                                              various statements from within Builder Mode.

                                              To sort the statements, Builder Mode needs to be activated. The
                                              following can then be done:

                                                 Click on Document | Sort Pages. Select OK on the first
                                                  screen.
                                                 A dialog will open where the various statements can be
                                                  sorted. Click on the right arrows on the top right; repeat
                                                  until the reports appear in the window.
                                                 Select an item on the left, and select Move up or Move down
                                                  on the right.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                        Page 8
New Builder Mode Options (continued)
                                               Another window will appear. From here the items on the
                                                Index Page are sorted.
                                               Select the item on the left, and click on Move up or Move
                                                down to sort it to the desired location.



Year Headers vs. Text Headers in Notes      A new option is provided to specify, for each of the Notes to the
                                            Financial Statements, whether to contain the year headings at
                                            the top of the page or not. For example, text notes such as
                                            Changes in Accounting Policies and New Standards and
                                            Interpretations, one does usually not want to show the years
                                            and the Rand sign in the header.

                                               To specify the type of header for a note, right click on the
                                                heading of the note, select Set Header for this note. The
                                                option to select Text header or Year header is then
                                                provided.
                                               For the first page of the Notes, however, changing the
                                                header will be slightly different. At the top of the Notes, in
                                                Builder Mode, the header for Notes to the Financial
                                                Statements will be visible. To turn off the year, e.g., simply
                                                right click on the year, and deselect On. The same applies to
                                                the R sign.



Other Minor Improvements
Changes affected                            Description

Improved “keep together” functionality         “Keep together” functionality has been extended to be
                                                available on paragraphs and not only sections.



Accounting periods shorter than 12 months      For drafting Financial Statements for periods shorter than
                                                12 months, there is now improved functionality.



Information store improvements                 Currency options have been extended for the Nigerian
                                                Market.
                                               When sorting directors from the Information store, the
                                                names of the directors now displays in the sort list.



Freeze headers                                 When scrolling down in the main statements of the
                                                Financial Statements the relevant statement header will
                                                remain visible at the top of the screen.
                                               Statements affected by this change includes:
                                                    -   Statement of Financial Position;
                                                    -   Statement of Comprehensive Income;
                                                    -   Statement of Cash Flows;
                                                    -   Statement of Changes in Equity; and
                                                    -   Detailed Income Statement.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                       Page 9
Other Minor Improvements (continued)
Other comprehensive income note                  If line items in the Other comprehensive income note net to
                                                  zero, the headings of the columns still print.


Audit report and Index page                      When the left indent within the Audit report and Index page
                                                  is set to indented, the indent is now consistently applied
                                                  throughout these pages.



Directors’ Responsibilities and Approval         The Directors Responsibilities and Approval has been
                                                  moved before the Audit Report.




Probe MMX
Probe MMX uses the latest CaseWare and Template Technology, creating a new way to conduct audits based on
the latest International Standards on Auditing (Clarity Standards). Probe MMX is much more than a
content template; it is an intelligent template with a specific audit approach to provide the best results.



Compliance
Probe MMX complies with the latest clarified International Standards on Auditing (Clarity Standards).
This includes new regulations for service organisations, evaluation of misstatements, use of experts etc.

Presumed risks are recorded automatically. Not only are you compliant, but it makes the engagement more
efficient.

Existing client files can be converted to Probe MMX. The conversion process will replace existing documents
with the new Probe MMX documents. After conversion, prior year information will NOT be retained.

To convert to Probe MMX, open the Financial Statements document (01.10) in the CaseWare file. An update
screen will launch, prompting the conversion to Probe MMX.



Redesigned Audit Methodology
Probe MMX has been redesigned to be more intuitive, ensuring compliance and greater efficiency for auditors.
Users have more flexibility to change the strategy throughout the engagement.



New Interface
The new interface is more intuitive and easier to use, making engagements faster. It requires less training for
new staff to get going.

Probe MMX has a clear audit trail from the identification of risks, the response and conclusion. This ensures
that all risks have been addressed.



Probe MMX for Small Engagements
Probe MMX Small can now be used for smaller engagements. It is specifically designed to reduce
documentation, be more efficient but still ensuring compliance.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                       Page 10
Known Issues
Issue                                                   Solution

When sorting rows in Loans to (from) group              Ensure that items are mapped in the order in which
companies note, the sub totals do not add up            information should be displayed in the note; or ensure
correctly.                                              that the first and last rows are not sorted.

If the Body Heading L1 font size in the General         Right click, Page | Settings and format.           Body
Information page is greater than 10, it causes a gap    Heading L1: change font size to 10
to appear after the first description line.

Data in the Tax Computation is not retained after an    Re-enter values from prior year file.
update.

Global formatting does not automatically apply in the   When opening the Tax Computation, click on
Tax Computation.                                        Document | Reapply formatting to apply the global
                                                        formatting.

Cash receipts from customers in the Statement of        Re-enter values from prior year file.
Cash Flows don’t retain information after the update
or file new from existing.

Order of New Standards and Interpretations is not       Click Apply to sort the        statements   into   their
retained after the update.                              corresponding categories.

Rounding has been turned off after an update.           Go to Document | Configuration | Rounding and
                                                        select the Automatic Rounding option.

After an update or File new from existing, the data     Re-enter values from prior year file.
entered into the Investment notes are not retained.

If page titles were set to Upper case, all headings     Go to Document | Format document to change the
will change to title case after an update.              formatting option.

After an update, the sort order of directors in the     In the Information Store, select the option to sort
General Information is not retained.                    directors. This will refresh the Financial Statements.

On File New from Existing, after selecting the          Re-enter values from prior year file.
option to retain data, the data in Other
Comprehensive Income is not retained.

Financial liabilities by category do not have the       Design mode workaround. Please contact CQS
option to insert lines.                                 Support on +27 11 507 0101 or support@cqs.co.za
                                                        for assistance.

When printing the Property, Plant and Equipment         Design mode workaround. Please contact CQS
note in landscape, a blank page is added above the      Support on +27 11 507 0101 or support@cqs.co.za
note, when it is the first note that is switched on.    for assistance.

On certain computers, when installing the IFRS          Select the option Reinstall using recommended
Template, a message appears indicating that the         settings.
program might not have installed correctly.

When replacing the Statutory income statement           Design mode workaround. Please contact CQS
with the full Detailed income statement and the         Support on +27 11 507 0101 or support@cqs.co.za
statement exceeds three pages, the header               for assistance.
disappears on the third page. This is only an issue
when the single statement option is selected.

In the Audit Report under the heading Auditor’s         Change the input cell value to auditor.
responsibility, the word auditors/auditors’ in the
second paragraph should always display as auditor.



    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                        Page 11
Upgrade Guide
Converting Existing Client Files to CaseWare 2010
There are two options for converting client files, namely converting files one at a time or performing a multiple
conversion using CaseWare Tracker.



Single Conversion
After installation of CaseWare 2010, existing client files will need to be converted to CaseWare Working Papers
2010.

This conversion will not make any changes to the content of the client file. To convert, do the following (after
installing CaseWare Working Papers 2010):

       Open CaseWare 2010.
       Select Open an existing file, and select More Files.
       Browse for the client file that requires conversion.
       Select Open on the .ac file.
       A File Conversion dialog will open.
       Select Make Backup Copy in, and select a backup location (this will be defaulted to My Documents).
        This will make a copy of the existing file, still in the older version of CaseWare Working Papers.
        We highly recommend selecting this option.
       Select OK.
       The conversion will commence. This can take a few minutes depending on the size of the client file.
       A dialog will open, where the required login details needs to be entered.
       The file will now open in CaseWare 2010.

Once converted to the latest version of CaseWare Working Papers, the client file will not open in prior version
of CaseWare again.



Multiple Conversion
Alternatively, a multiple conversion, using CaseWare Tracker, could be performed. This enables the conversion
of all selected client files to CaseWare 2010 with one process. We recommend making a backup of the
files before commencing with the conversion, as this will not be done automatically.

To perform a multiple conversion (after installing CaseWare Working Papers 2010), do the following:

       Open CaseWare Tracker 2010 (It will appear as a shortcut on the desktop).
       Select Simple View in the left hand pane on screen.
       Click on Tools |File scan.
       Browse for the folder where the CaseWare files are saved (it will be defaulted to the Data folder).
       Select OK.
       The list will populate with the CaseWare files in the selected folder.
       Select the files that require conversion by clicking on a file, and pressing (Ctrl-A) to select all, or
        alternatively, holding down (Ctrl) to select specific files.
       Right click on one of the selected files, and select Convert to 2010.00.xxx.
       Select Yes to All.
       The conversion will commence. This can take a few minutes per file.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                         Page 12
Updating Client Files to Latest Templates
There are two options for updating client files to the latest version of the templates, namely a file update, or
file new from existing.



Update on Existing Financial Statements
To update existing client files to the latest version of the template, follow the steps below:

We recommend making a backup of the file before commencing with the update.

Open the Financial Statements document (01.10) in the CaseWare file

       In order for the update to run, tick the selection box next to the update listing, as well as the
        confirmation that a backup of the CaseWare file was made.
       Click Finish to continue.
       Do not cancel the update if the message on screen reads “Not responding”. Please do not
        close the program or shut the machine down until the message stating that the update is
        complete appears on screen.

On new client files, simply follow the update steps above. If you have completed the client file and would like
to perform the update in the new year, first perform a year-end close on the file, and then update on the new
file as per the steps above.



File New from Existing
If the latest content from the CQS/firm template is required, without having to re-enter account information,
the new file can be created from existing client data.

To create a new file from existing data, based on the latest version of the template, follow the steps below:

       Open CaseWare Working Papers 2010.
       Select File | New in the CaseWare menu.
       Select the option Create a new file from client data.
       Select the Existing file option and click Next.
       Browse for the existing file (this is defaulted to the Data folder). When the file is located, click on
        Next.
       Select the new template the file is to be based on and click Finish.
       Logging into the existing file as well as the new file is required.
       If the existing file has not been converted to CaseWare 2010, a screen will launch prompting the
        conversion to the latest version. Select Yes.
       The On file new wizard will appear. From this window the selection which data should be retained
        from the existing file, is made.
       Select the relevant options and click Continue.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                           Page 13
Features of the Two Methods
Update Method                                            File New from Existing Method

Updates the existing client file.                        Creates a brand new file.

More information and data is retained in the new file,   Less information and data is retained than the Update
compared to the File New from Existing method.           Method.

Takes longer than the file new from existing method.     Faster than the update method.

Documents in the Document Manager, e.g. custom           Customisation (in the Financial Statements and
documents, are retained, as well as customisation        Document Manager), as well as custom documents,
within the CaseWare file with regards to mapping.        are lost in the new file.

Cannot be applied to files that were based on a          Can be applied to all CaseWare Working Papers files.
template older than 2006.




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                       Page 14
Contact CQS
Main Contact Details
CQS Reception:                               +27 11 507 0000

ProBeta Reception:                           +27 11 886 1395



Help Desk Direct Extension
CaseWare Working Papers:                     +27 11 507 0101

CaseWare Time:                               +27 11 507 0102

TaxWare:                                     +27 11 507 0103

SecWare:                                     +27 11 507 0104

E-mail CQS Support:                          support@cqs.co.za

E-mail ProBeta Support:                      probesupport@probeta.co.za

CQS Web Support:                             www.cqs.co.za

ProBeta Web Support:                         www.probeta.co.za



Other Important Details
Register at www.cqs.co.za for easy access to frequently asked questions, upgrades, downloads and technical
documentation.



Email us at info@cqs.co.za regarding:

       Feedback
       Ideas on service or products
       Product information
       Account or license information
       Any other queries




    CQS Release Document – IFRS 2010 |
    CQS Technology Holdings Pty (Ltd)                                                                  Page 15

				
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