What is a Supporting Schedule?

A supporting schedule is a detailed itemization of the contents of an account. It is frequently used by auditors as part of their examination of the accounting records of a client, during their audit of the firm’s financial statements. Supporting schedules are stored in the audit working papers.

A supporting schedule can also refer to additional information provided with an internal report. This schedule is used by readers to delve more deeply into the subject matter, depending on their level of interest. Managers may use supporting schedules to gain a better understanding of the processes and functional areas for which they are responsible.

The term can also refer to the disclosure of additional information that accompanies a company’s financial statements, such as a schedule of remaining lease payments, or revenues and expenses by business segment, or fixed asset types. These schedules are intended to expand upon the information contained within the financial statements, and are frequently mandated by the applicable accounting standard, such as GAAP or IFRS. Investors may spend a substantial amount of time perusing these disclosures, in order to discern the prospects of the reporting entity.