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This process requests detailed information, beyond what is captured within the general ledger and supporting subsidiary ledgers, that is used to build the financial statement narrative and supporting footnotes. It collects financial and non financial information to satisfy cost/performance requirements. Information requested includes as much detail as possible: purpose, objective, originating organization, description of request, priority, deadline, one time or recurring, specific exceptions or considerations, and output parameters (format, delivery instructions, and frequency). The information is required to provide details, support specific line items or other assertions contained within the financial statement. For example, the Property, Plant, and Equipment line item on the financial statements is supported by additional footnote information providing specific asset account balances related to the types of equipment that make up the line item. Once the process receives all of the narrative information required to clarify financial report balances and satisfy financial statement footnote disclosure requirements, it is then incorporated to the Draft Period End or On Demand Financial Statement. |