What does Finrep do for SEC reporting teams?

Finrep provides purpose-built workflows for SEC reporting including roll-forward analysis, peer alignment benchmarking, comment letter risk detection, filing readiness checks, and AI-assisted disclosure drafting — all grounded in evidence and peer precedent.

How does Finrep help with 10-K and 10-Q drafting?

Finrep's Disclosure Drafting workflow drafts or refines 10-K and 10-Q sections using peer precedent, prior period language, and applicable ASC guidance as grounding sources. Every output is traceable to its source.

Can Finrep help respond to SEC comment letters?

Yes. Finrep's Comment Letter Response workflow drafts substantive, defensible responses to SEC staff comment letters by referencing peer company responses and applicable accounting guidance.

What workflows does Finrep offer for CFO and Controller teams?

Finrep offers Certification Readiness, Cross-Period Consistency, and Board Briefing workflows — covering pre-certification risk summaries, narrative consistency checks, and audit committee-ready disclosure summaries.

Does Finrep support ESG and sustainability reporting?

Yes. Finrep includes ESG Disclosure Benchmark and ESG Regulatory Monitoring workflows, supporting TCFD, SASB, and GRI framework alignment as well as SEC climate disclosure rule tracking.

Which teams in the CFO office does Finrep support?

Finrep supports SEC Reporting, Technical Accounting, Legal Counsel, Investor Relations, Disclosure Committee, CFO and Controller, Tax Team, and ESG Reporting functions.

How are scope paragraphs cited in the memo?

By specific paragraph number within the ASU codification update. "Applicable per ASC 280-10-50-22 as amended by ASU 2023-07" not "applicable under ASU 2023-07."

Does it cover both public and private company effective dates?

Yes. Effective dates shown for public business entities, private companies, and smaller reporting companies where they differ.

What does the disclosure checklist show?

New disclosure requirements from the ASU mapped to your existing footnote structure: which existing notes require updates, which new notes are required, and which disclosures are conditional.

Are transition method pros and cons included?

Yes. Each available transition method shown with its accounting implications, comparative period requirements, and adoption complexity.

Can I run this for multiple ASUs in one session?

Yes. Each ASU produces a separate memo. Run sequentially for multiple standards effective in the same period.

Is the output auditor-ready?

Yes. Every conclusion cites the specific ASU paragraph. Format structured for disclosure committee review and external auditor reference.

Technical Accounting

ASU Applicability

ASU applicability is the scoping analysis every technical accounting team runs when FASB issues an Accounting Standards Update. Finrep reads the ASU, maps scope paragraphs against your entity type and fact pattern, and returns a cited applicability memo with effective date, transition method options, and a disclosure checklist mapped to your footnotes.

Cited memo

Every conclusion linked to ASU paragraph

Effective date + transition

Both surfaced in the output

Footnote-mapped

Disclosure checklist against your existing notes

See sample reports

Sample ASU Applicability Reports

See what a Finrep ASU applicability memo looks like. Download and review the full output.

Today's reality

ASU Applicability without Finrep

Full ASU read required before scoping begins, taking days for complex standards
Scope paragraph identification manual, with risk of missing exceptions
Transition method options researched separately from the applicability conclusion
Memo quality inconsistent across team members and ASU complexity levels

Technical Accounting · Research

Every ASU requires the same analysis. It takes days every time.

FASB publishes Accounting Standards Updates throughout the year. Each one requires the same sequence: read the full text, identify the scope paragraphs, assess applicability to the entity's fact pattern, determine the effective date and available transition methods, and document the conclusion in a memo the disclosure committee can rely on.

For a straightforward ASU, this takes two to three days. For a complex one with multiple scope exceptions and transition alternatives, it takes longer. And the next ASU arrives before the last memo is filed.

Without Finrep

Manual process

Full ASU read required before scoping begins, taking days for complex standards
Scope paragraph identification manual, with risk of missing exceptions
Transition method options researched separately from the applicability conclusion
Memo quality inconsistent across team members and ASU complexity levels

With Finrep

Automated workflow

Scope paragraphs mapped to your fact pattern automatically, conclusion cited to the ASU
Full scoping analysis in minutes, not days
Transition method options surfaced alongside the applicability conclusion
Consistent cited memo output regardless of ASU complexity or who runs the analysis

From ASU to cited applicability memo in four steps

Enter the ASU and your fact pattern

Provide the ASU number (or paste the text) and describe your entity type and relevant fact pattern: public or private, industry, transaction types, existing accounting policies.

Finrep maps scope paragraphs

Every scope paragraph in the ASU assessed against your fact pattern. Scope inclusions, exclusions, and exceptions mapped. Conclusion cited to the specific paragraph.

Review the applicability memo

Memo structured with: applicability conclusion, scope paragraph citations, effective date, transition method options with pros and cons, and a disclosure checklist mapped to your existing footnotes.

Edit and file

Adjust the memo for entity-specific context. Output is a review-ready cited memo, not a starting-point outline.

What you get

Cited applicability memo with effective date, transition options, and footnote-mapped disclosure checklist

Ask FinaChecklist Benchmarking

Technical Accounting

What ASU Applicability does at a glance

Team: Technical Accounting
Filing phase: Research
Output: Cited applicability memo with effective date, transition options, and footnote-mapped disclosure checklist
Modules: Ask FinaChecklist Benchmarking

What changes when the scoping analysis is consistent, cited, and fast

Scope paragraph mapping against your fact pattern

Every scope paragraph assessed against your entity type, industry, and transaction fact pattern. Inclusions confirmed, exclusions identified, conditional exceptions flagged. Every conclusion cites the specific ASU paragraph, not the standard at the topic level.

Effective date and transition method analysis

Effective date surfaced for your entity type (public vs. private vs. smaller reporting company). All available transition methods shown with their accounting implications and adoption requirements. Early adoption eligibility confirmed.

Disclosure checklist mapped to your footnotes

New disclosure requirements from the ASU mapped to your existing footnote structure. Shows which existing notes require updates, which new notes are required, and which disclosures are conditional on your fact pattern.

Cited applicability memo output

Structured memo output: applicability conclusion, scope analysis with paragraph citations, effective date, transition options, and disclosure checklist. Every section citable and auditor-ready. Consistent format across every ASU the team runs.

Built for the people who scope every ASU before the team asks

Technical Accountant

Scope paragraphs mapped, memo cited, transition options surfaced. Every ASU in minutes, consistent quality every time.

SEC Reporting Lead

Disclosure checklist mapped to your existing footnotes. Know exactly which notes need updating before drafting begins.

FAQ

The ASU number (or full text) and your entity type, industry, and relevant fact pattern. The more specific the fact pattern, the more precise the scope mapping.