What's new in Version 2008.02
Jul 1, 2008

• Version: 
  • This release was available in three formats, one for use with CaseWare Working Papers 2006, one for use with CaseWare Working Papers 2005 and one for use with CaseWare Working Papers 2004. Template features are identical in each file set.
  • When CaseWare Working Papers 2008 is released by CaseWare International Inc., users should:
    • a) Backup their template files,
    • b) Open each template in the new version to upgrade the files. 
• Checklists: 
  • All the audit programs, disclosure checklists, review checklists, and compilation checklists are now current up to the May 2008 release of the CGA Canada Public Practice Manual. For details of these changes, please refer to the CGA Public Practice Manual. 
• Financial statements: 
  • Corporations - Comprehensive Income: The financial statements have been modified to comply with the new GAAP requirement (effective for periods that commence October 1, 2007 or later for non-publicly accountable enterprises) to report certain financial instruments at fair value and to report certain unrealized gains and losses after net income. 
    • To access this feature in an existing client file that has been rolled forward:
    • 1. Use the UPDATE button in the Financial Statements 
    • 2. Copy the mapping from the template into the client file. Using the “Copy template" feature: 
      • a. Select “Some Components” 
      • b. Press the “Select…” button next to Groupings/Mapping, 
      • c. Check the “Mapping” checkbox 
      • d. Press the “Options…” button next to Mapping 
      • e. Select “Merge source file’s mapping structure (new numbers are added)” and “Autofill account properties using mapping structure”, then press OK
      • f. Check the “L/S” checkbox
      • g. Select “L/S” from the drop down items next to “into”
      • h. Press the “Options…” button next to L/S
      • i. Select “Merge source file’s L/S structure (new numbers are added)”, then press OK
      • j. Press OK 
      • k. Press OK 
    • 3. Add new GL accounts as required and assign them to the new mapping numbers. The new mapping numbers are: 
      • 381.11 Accumulated unrealized gains/losses on available-for-sale financial assets
      • 381.12 Current unrealized gains/losses on available-for-sale financial assets 
      • 381.13 Future tax on current unrealized gain/loss on available-for-sale financial assets 
      • 381.14 Reclass for realized gain/loss on available-for-sale financial assets 
      • 381.15 Future tax on reclass for realized gain/loss on available-for-sale financial assets 
      • 381.21 Accumulated unrealized foreign exchange gains/losses on self-sustaining foreign operations 
      • 381.22 Current unrealized foreign exchange gains/losses on self-sustaining foreign operations 
      • 381.23 Future tax on current unrealized foreign exchange gains/losses on self-sustaining foreign operations 
      • 381.24 Reclass for realized foreign exchange gains/losses on self-sustaining foreign operations 
      • 381.25 Future tax on reclass for realized foreign exchange gains/losses on self-sustaining foreign operations
      • 381.31 Accumulated unrealized gains/losses on effective hedges 
      • 381.32 Current unrealized gains/losses on effective hedges 
      • 381.33 Future tax on current unrealized gain/loss on effective hedges 
      • 381.34 Reclass for realized gain/loss on effective hedges 
      • 381.35 Future tax on reclass for realized gain/loss on effective hedges 
      • 381.41 Accumulated unrealized gains on appraisal increase credits 
      • 381.44 Reclass for realized gain on appraisal increase credits 
      • 381.45 Future tax on reclass for realized gain on appraisal increase credits
        Accounts mapped to these mapping numbers will appear in new separate groups on the retained earnings leadsheet. Using these mapping numbers, and the related changes in the financial statements, the template is designed to accommodate the reporting of one of the four possible items of revenue, expense, gain or loss that is identified in the CICA Handbook – Accounting to be reported in Other Comprehensive Income. In addition to the new “Statement of Comprehensive Income‛, the financial statements include: 
      • a Comprehensive Income note, 
      • an Accumulated Other Comprehensive Income schedule on the Statement of Retained Earnings, and 
      • a new line item, “Accumulated Other Comprehensive Income‛, in the Equity section of the Balance Sheet 
        For new clients, the template includes GL accounts (3911 - 3915, 3921 - 3925, 3931 - 3935, 3941, 3944, and 3945) that are mapped to the new mapping numbers. 
• Client letters: 
  • The management letter was enhanced to include options for eligible dividends.
  • The management letter was enhanced to include an option for quarterly income tax instalments.
  • Several technical improvements were made in the management letter, the independence letter, the engagement letters and the representation letters.
• Small audit program: 
  • Technical corrections were made in the Preliminary analysis and Final analytical review working papers and the Client prepared information document.
• CaseView Working Papers: 
  • The “Instructions for T5 Reports” working paper was enhanced to provide for eligible dividends. 
  • Several improvements and updates were made in various working papers. 
• Help and Getting Started files: 
  • Updated recommended procedures.
• File Profile: 
  • Updated version information.