CAS Financial Statement Builder

The Problem

Closing financial statements from a trial balance is mechanical but error-prone. Common failures include missed contra accounts, mixing contract liabilities with advances from customers, inconsistent direct/indirect cash flow calculations, and broken retained earnings roll-forwards. Under CAS, account mapping is especially tricky: accounts receivable must be net of allowances, inventory must deduct write-downs, and fixed assets must deduct depreciation and impairment. This skill targets that structured yet error-prone reporting workflow.

How It Works

It first confirms data source, reporting period, comparison basis, and accounting standard. Inputs may be a trial balance, trial balance sheet, or profit-only data. The workflow covers:
- Data validation: trial balance check, account coverage, abnormal balance direction; stops if unbalanced.
- Statement preparation: generates a balance sheet, income statement, and cash flow statement under CAS, including direct-method items and indirect-method adjustments.
- Cross-checks: assets equal liabilities plus equity; net income ties to retained earnings; cash increase equals the change in cash and equivalents.
- Variance analysis: flags material movements and drafts explanations, such as receivable growth tied to sales volume.
- Optional extensions: basic consolidation elimination guidance, notes framework, and Notion archiving.

Limits

It is best suited for relatively complete trial balances where a CAS first draft is needed. It does not replace finance leadership judgment for bad debt, impairment, deferred tax, or multi-layer consolidation. Missing data is not fabricated; it is marked as missing or the run is paused.