Illustrative financial statements - KPMG

Il ustrative financial statements

Private equity funds

September 2017

The information contained in these illustrative financial statements is of a general nature relating to private investment companies only and is not intended to address the circumstances of any particular entity. The form and content of financial statements are the responsibility of the specific entity's management. These illustrative financial statements: (a) are intended to provide general information on applying accounting principles generally accepted in the United States of America effective as of September 30, 2017, and do not include all possible disclosures that may be required for private investment companies; (b) are not intended to be a substitute for management's review of applicable law or accounting standards or for professional judgment as to the adequacy of disclosures and fairness of presentation; and (c) are being provided with the understanding that the information contained herein should not be construed as legal, accounting, tax, or other professional advice or services and that no one should act on any information contained herein without the appropriate professional advice provided in connection with the entity's particular situation. Although we endeavor to provide accurate and timely information, there can also be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Certain information contained in these illustrative financial statements may be superseded as new guidance or interpretations are issued. Financial statement preparers and other users of these illustrative financial statements are therefore cautioned to stay informed of, and carefully evaluate, subsequent authoritative and interpretative guidance.

? 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. NDPPS 716349

Table of contents

Private Equity, L.P.

1

Statement of assets and liabilities........................................................................3

Schedule of investments......................................................................................4

Statement of operations.......................................................................................6

Statement of changes in partners' capital ............................................................7

Statement of cash flows ......................................................................................8

Notes to financial statements...............................................................................9

Appendix

29

Appendix A: Investments in private investment companies ..............................31

Appendix B: Alternative presentation .................................................................37

References to the relevant literature are included in the left-hand margin. The following abbreviations are used for technical references:

ASC

FASB Accounting Standards Codification

ATQA AICPA Technical Questions and Answers

AAG?INV AICPA Audit and Accounting Guide, Investment Companies

CFTC

Commodity Futures Trading Commission

? 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. NDPPS 716349

Private Equity, L.P.

? 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. NDPPS 716349

Please refer to the conditions of use on the inside cover of this publication.

? 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. NDPPS 716349

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download