Identified & Corrected Misstatement Task - Step-2 : Record Corrected Misstatements

All Line items where the IMS amount has been entered in the Step-1 table for FSLI and ledger level will be listed in Step 2 table.

• Testing Level - FSLI Item or Ledger 
• Identified Misstatement (Yes/No)
• Value of Identifies Misstatement (IMS): IMS amounts entered for the linked items in Step 1
• Remarks for IMS 
• Trivial (Yes/ No) : Based on the IMS the entries will be classified as Trivial Yes or No automatically by the system.

1. Trivial = Yes ; if IMS Amount < Trivial Materiality Amount
2. Trivial =No; if IMS Amount > Trivial Materiality Amount   

• Corrected Misstatement  (Yes/ No): When the user clicks on edit (Actions Column), the field is enabled with drop-down options, Yes/ No

1. If Corrected Misstatement = No: CMS Amount field is disabled, and defaults to 0 on save;
2. Corrected Misstatement = Yes: the CMS Amount field is enabled and the user can enter an amount (positive, negative, and 0 allowed);
3. Switch Yes ➔ No: The system shares a toast message indicating the CMS amount will reset to 0

• Value of Corrected Misstatement (CMS): This is a user-enterable field; the field will be enabled if the drop-down selection under the field Value of Corrected Misstatement (Yes/No) is = Yes

1. If Corrected Misstatement = No: CMS Amount field is disabled, and defaults to 0 on save;
2. Corrected Misstatement = Yes: the CMS Amount field is enabled and the user can enter the amount (positive, negative, and 0 allowed);
3. Switch Yes ➔ No: The system shares a toast message indicating the CMS amount will reset to 0
4. The CMS amount can be greater than the IMS amount, the system will prompt an error message and the CMS amount entered will not be saved. 
   "Corrected misstatement amount cannot be greater than the Identified Misstatement amount."

• Value of Uncorrected Misstatement 

For Trivial = No: System sets Uncorrected Misstatement = IMS Amount by default. If the user updates Corrected Misstatement, the system recalculates Uncorrected Amount: 

Uncorrected Misstatement = IMS Amount – Corrected Misstatement.

For Trivial = Yes: Uncorrected Misstatement is always 0, regardless of any corrections entered.