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TGSV ENTERPRISES, INC. <br /> <br />NOTES TO FINANCIAL STATEMENTS <br /> <br />DECEMBER 31, 2017 <br /> <br /> <br />1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) <br /> <br />New accounting pronouncements <br /> <br />The Company evaluates new accounting pronouncements for relevance and impact on its <br />financial statements. Management does not expect that timely adoption of these new <br />pronouncements will have a material impact on the Company’s financial position, results of <br />operations, or cash flows. <br /> <br />Advertising costs <br /> <br />Advertising costs are charged to operations as incurred and are included in general and <br />administrative expenses. <br /> <br /> Compensated absences <br /> <br />The Company does not permit carryover of unused vacation to subsequent periods; therefore, <br />no amounts for compensated absences have been accrued at December 31, 2017. <br /> <br />Date of management’s review <br /> <br /> Subsequent events have been evaluated through February 22, 2018, which is the date the <br />financial statements were available to be issued. <br /> <br /> <br />2 CASH AND CASH EQUIVALENTS <br /> <br />Cash and cash equivalents include all cash balances and highly liquid investments with a <br />maturity of three months or less. As of December 31, 2017, the Company has a repurchase <br />agreement in the amount of $317,101, certificates of deposit amounting to $25,000, and <br />money funds aggregating $178,899. <br /> <br />The Company maintains cash and cash equivalents at several financial institutions. Funds in <br />noninterest bearing and interest-bearing accounts are insured by the FDIC up to $250,000. <br />Balances at these financial institutions sometimes exceed the insurance limits. <br /> <br /> <br />See independent accountants’ review report. <br />-9-