Special Purpose Financial Reports and Statements Tool – SPFR

The LodgeiT SPFR Module is designed to streamline and automate the production of Special Purpose Financial Reports and Statements.
Unlike other reporting systems, the LodgeiT SPFR Module relies on a single import and classification exercise to populate Working Papers, the Tax Form and Special Purpose Financial Statements.

Import raw client-side financials from a range of Accounting Systems like Xero and Quickbooks

import from accounting systems for special purpose financial reports


Classify against the Internal LodgeiT Taxonomy


Generate Financial Reports by Month, Quarter or Year


Select the appropriate reporting template and manage the publishing cycle


Compilation Report is automatically populated with appropriate names using the correct conventions


Signing field uses your firm name


Declarations are contextual i.e. Special Purpose Financial Reports / Statements for Companies

 


Special Purpose Financial Reports / Statements for Trusts


Special Purpose Financial Reports / Statements for Partnerships


Details for signing parties are included dynamically from the LodgeiT Contact Database and are contextually correct


Exceptional presentation quality with nested structure


Appropriate Notes are included


Company Profit Appropriations Report


Partner Profit Appropriations Report


Partner Distributions Summary


Import Financials & Manage Classification
Preparation of Company SPFR & Tax Return
Preparation of Partnership SPFR & Tax Return
Preparation of Trust SPFR & Tax Return


Looking for a Fully Customisable Digital Financial Reporting Solution?

If you are looking for more flexibility in your reporting, take a look at our AccFx Digital Financial Reporting System. This is a stand-alone software tool that requires Wolfram CDF Player. AccFx can be easily customised to suit the most demanding reporting requirements.

Special Purpose Financial Reporting Requirements

Members of all three Australian professional accounting bodies (IPA, CPA, CA) are required to prepare Special Purpose Financial Statements. This requirement is set out in APES 205. The objectives of APES 205 Conformity with Accounting Standards are to specify a Member’s professional and ethical obligations in respect of: Fundamental responsibilities when the Member prepares, presents, audits, reviews or compiles Financial Statements; the requirement to take reasonable steps to ensure a Reporting Entity prepares General Purpose Financial Statements; and the disclosures in an entity’s Special Purpose Financial Statements.
- Accounting Professional & Ethics Standard Board (APESB)
APES 205 Conformity with Accounting Standards sets out mandatory requirements and guidance for members. Members must comply with the relevant financial reporting framework applicable to their relevant jurisdiction when they prepare, present, audit, review or compile general purpose financial statements or special purpose financial statements.
- CPA Australia
Accounting Professional & Ethical Standards Board Limited (APESB) issues professional standard APES 205 Conformity with Accounting Standards (the Standard), which is effective from 01 July 2008. APES 205 sets the standards for Members involved with the preparation, presentation, audit, review or compilation of Financial Statements, which are either General Purpose Financial Statements or Special Purpose Financial Statements, of entities in the private and public sectors. Members in Australia shall follow the mandatory requirements of APES 205 when they prepare, present, audit, review or compile Financial Statements. Members outside Australia shall comply with the financial reporting framework applicable to the relevant jurisdiction when they prepare, present, audit, review or compile Financial Statements. However, where the Financial Statements are prepared in accordance with the Australian Financial Reporting Framework, Members shall comply with the requirements of this Standard.
- Institute of Public Accountants
APES 205 sets the standards for Members involved with the preparation, presentation, audit, review or compilation of Financial Statements, which are either General Purpose Financial Statements or Special Purpose Financial Statements, of entities in the private and public sectors. APES 205 should be read in conjunction with other professional duties of Members, and any legal obligations that may apply. Members in Australia shall follow the mandatory requirements of APES 205 when they prepare, present, audit, review or compile Financial Statements. Members outside Australia shall comply with the financial reporting framework applicable to the relevant jurisdiction when they prepare, present, audit, review or compile Financial Statements. However, where the Financial Statements are prepared in accordance with the Australian Financial Reporting Framework, Members shall comply with the requirements of this Standard.
- Chartered Accountants Australia + New Zealand
Non-reporting entities can prepare a Special Purpose Financial Report (SPFR), which is less than full compliance with Australian Accounting Standards.
Crowe Horwath
Special purpose financial statements are financial statements other than general purpose financial statements.
- AASB1054