Prior period adjustments
* Prior period adjustments
3 million compared to an unfavorable prior period adjustment
Recommendation: To help assure that prior period adjustments
are properly identified and reported in the CFS, the the Secretary of the Treasury should direct the Fiscal Assistant Secretary to enhance the SOP entitled "Analyzing Agency Restatements" to include procedures for analyzing the overall impact of entities' restatements on the CFS and documenting the analysis and related conclusion.
16 eliminated virtually all prior period adjustments
, the reason for issuing SAS no.
Line 19 requires the taxpayer to list "[e]xtraordinary items and prior period adjustments
Specifically, the footnote disclosure related to the restatements was titled Prior Period Adjustments
, which could be misinterpreted since most of the corrections discussed in the note were not prior period adjustments
Although most unusual items are disclosed in the income statement, an exception is made for prior period adjustments
due to errors.
In the fourth quarter of 2009, Medicare Advantage operating income included negative prior period adjustments
These prior period adjustments
along with the respective reimbursements of the withheld monies have been completed as of last month, however, these adjustments will continue to be reviewed for accuracy and validity through the 2014 audit period.
3 million, which excludes any prior period adjustments
associated with the investigation into the accounting matter described previously.
This month's distribution increased from the previous month due to increased production of oil on the Waddell Ranch properties and the completion last month of the prior period adjustments
relating to previous years' overpayments to the Trust on gas plant allocations by ConocoPhillips.
Use of non-GAAP Financial Measures and Prior Period Adjustments