Two questions should be addressed in detail managing books and records for an investment portfolio, capital performance or an investment distribution.
1.What specific reporting deliverables and their frequency?
2.What type of information or what grade of data is necessary?
There are five standard deliverables expected to be used.
1.Balance sheet (snapshot of assets, liabilities and members’ equity).
2.Income statement (statement of operations, typically quarterly basis).
3.Partners’ capital statement (balance sheet and income statement with capital contributions).
4.Statement of cash flows (cash-basis report on three types of financial activities: operating activities, investing activities, and financing activities).
5.Schedule of Investments (list of the portfolio assets of the fund)