Format for Supplementary Information Required Under RR 19-2011 and 15-2010

Accountants and Auditors are now rushing on finalizing financial statements for filing with the regulatory bodies and other interested parties.  Two of the required disclosures in the notes to the financial statements are supplementary information required under Revenue Regulations (RR) 19-2011 and RR 15-2010.


For the supplementary information required under RR 15-2010, please refer to our post on: Looking back: How should the information required by RR-15 2010 be presented in the financial statements?

For the supplementary information required under RR 19-2011, there were no issued standard format that we can follow in drafting our FS disclosures.  Guidelines and Instructions in filing 1702 stated in the required attachment (3#):

Account Information Form (AIF) and/or Financial Statements (FS), including the following schedules prescribed under existing revenue issuances which must form part of the Notes to the audited FS:

  1. Sales/Receipts/Fees
  2. Cost of Sales/Services
  3. Non-Operating and Taxable Other Income
  4. Itemized Deductions (if taxpayer did not avail of OSD)
  5. Taxes and Licenses
  6. Other information prescribed to be disclosed in the notes to FS

These information appears to be those that are required to be provided in the old income tax form.  Thus, we believe that the disclosure in the notes to financial statement are exactly the same figures and captions in the old income tax returns for the above particulars.

It is to be noted that the fields where those information were used to be presented in the old income tax return are no longer present in the new tax returns.  The BIR wants to shift the information from the ITR to the FS due to the limited fields in the new ITR.  Click here to download the new tax returns.

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Disclaimer: Opinions expressed in this article are that of the author and information provided are for general conceptual guidance for public information and are not substitute for expert advice. Contact for more information and if you want to avail professional services. Find us on Facebook!

Orlando Calundan is a CPA who has exposures in FS audit of entities in various industries such as real estate, food/restaurants, manufacturing, service organizations and BPOs, automotive, holding/investment companies and more. He also has exposure on internal audit engagements.

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