Template authors can create and manage content in the libraries and then push changes out to all end users. Depending on the engagement, end users can add new content into an existing client file with the latest information provided by the organization. End users only have to update portions of their client financial statements instead of re-creating the entire financial statements each time new content is released.

For example, template authors can continue to work on customizations to the balance sheet in the balance sheet library after the template is released. Once the customization is complete and the template is redistributed to end users, they will receive the updated balance sheet on their local machines. If the balance sheet changes are applicable to their client situation, the end user can execute an update for the balance sheet only in their financial statements. Without the use of a library, to get the changed balance sheet into their client file, an end user would have to recreate the complete financial statements.

The knowledge library concept provides greater efficiency for both template authors and end users.

All content customization work must be done in the library documents and not the financial statements document.

Depending on your jurisdiction, the Financials template includes the following libraries where you can create and manage content:

  • Cover Page
  • Table of Contents
  • Report of Auditors
  • Reporting by Directors
  • Reporting by Directors paragraphs
  • Statement by Directors
  • Income Statement
  • Statement of Comprehensive Income
  • Distribution of Profit and Loss
  • Statement of Recognized Gains and Losses
  • Balance Sheet (or Statement of Financial Position)
  • Statement of Retained Earnings
  • Statement of Equity
  • Statement of Cash Flow
  • Notes to the Financial Statements
  • Schedules
  • Supplementary Information Report
  • Graphs
  • Additional Statement Areas
  • Headers and Footers

The collection of all these library documents is the Knowledge Library.

There are six libraries for the Notes to the Financial Statements and 20 for the Additional Statement Areas. This provides for greater flexibility for template authors to manage custom content. Each library has access to base content for that particular area that is authored by Caseware International. Template authors start with this base content and customize to meet the needs of the organization.