HOW TO READ A PRIVATE FUND'S FINANCIAL STATEMENTS - COMPANION FILES
julianrsterling.com/statements

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Revised 23 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's four workbooks, corrected where they were wrong
   Harbourgate_Reporting_Pack.xlsx          Appendix A, the pack live, twelve
                                            reconciliations, checks ALL OK
   Five_Worked_Cases.xlsx                   Appendix C
   Rebuild_Your_Own_Account.xlsx            Appendix D as calculators
   Ninety_Minutes_and_Eighty_Questions.xlsx Chapter 20 and Appendix B
   00_START_HERE.md                         what changed is at the end

2. Blank_Model_Set/  (new)
   Reporting_Pack_Blank.xlsx                your own fund's pack, the twelve
                                            reconciliations run on it
   Rebuild_Your_Own_Account_Blank.xlsx      the calculators, every input emptied
   Each checks sheet counts what is still missing and tests what holds for any
   inputs. The book's figures are in book_inputs.txt.

3. Working_Documents.pdf  (new)
   Thirteen printable pages: the pack as received, the statement of assets and
   liabilities, the schedule position by position, operations decomposed,
   changes in net assets and your share, what funded the distributions, your
   capital account rebuilt, the commitment schedule, valuation and the mark
   that did not move, the fee recomputed, carry and expenses, leverage and the
   structures below the fund, and your return with the audit report and the
   standing one-page summary. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_Marked_Down_or_Marked_Up.xlsx     Chapters 4 and 20, Appendix A
   Case_2_The_Stressed_Path.xlsx            Chapter 8
   Case_3_Seventy_Per_Cent_of_What.xlsx     Chapter 16
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
