United States

Alternative Investment Fund - Illustrative Financial Statements

Feb 25, 2015
From the KPMG Institutes

KPMG's "Alternative Investment Fund Illustrative Financial Statements", originated by Rothstein Kass, is a highly-regarded industry guide that provides the alternative investment community with a comprehensive guidebook of sample U.S. GAAP financial statements for private funds and includes examples for domestic, offshore, master/feeder and fund of funds structures. The illustrative financial statements includes examples of:

  • Statement of assets and liabilities
  • Statement of operations
  • Statement of changes in partners’ capital/net assets
  • Statement of cash flows
  • Condensed schedule of investments and
  • Footnote disclosures

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 any specific entity’s management. These illustrative financial statements:

  • are intended to provide general information on the application of accounting principles generally accepted in the United States of America effective as of December 31, 2014, and do not include all possible disclosures that may be required for private investment companies;
  • 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
  • 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 Certain information contained in these illustrative financial statements may be superseded as new guidance or interpretations are issued.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.

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