Full text of BROWN, LISLE/CUMMINGS, INC.'s X-17A-5 filed 2020-02-27 (period 2019-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ # FINANCIAL STATEMENTS December 31, 2019 {1}------------------------------------------------ ### **CONTENTS** | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 - 2 | |---------------------------------------------------------------------------------------------------------------------------------------------|-----------| | FACING PAGE | 3 | | OATH OR AFFIRMATION | 4 | | FINANCIAL STATEMENTS | | | Statement of financial condition | 5 | | Statement of income | 6 | | Statement of changes in stockholders' equity | 7 | | Statement of cash flows | 8 | | Notes to financial statements | 9 -<br>17 | | SUPPORTING SCHEDULES | | | Computation of Aggregate Indebtedness and Net Capital Under<br>Schedule I -<br>Rule 15c3-l of The Securities and Exchange Commission | 18 | | Computation for Determination of Reserve Requirement Under<br>Schedule II -<br>Rule 15c3-3 of The Securities and Exchange Commission | 19 | | Schedule III -<br>Information Relating to Possession or Control Requirements Under<br>Rule 15c3-3 of The Securities and Exchange Commission | 20 | {2}------------------------------------------------  ### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** ### **To the Stockholders of Brown, Lisle/Cummings, Inc.** ### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Brown, Lisle/Cummings, Inc., (the "Company") as of December 31, 2019, the related statements of income, changes in stockholders' equity and cash flows for the year then ended, and the related notes to the financial statements (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2019, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. ### **Change in Accounting Principle** As discussed in Notes 1 and 5 to the financial statements, effective January 1, 2019 the Company Adopted ASU 2016-02, and accordingly changed the manner in which it accounted for leases. Our opinion is not modified with respect to this manner. ### **Basis for Opinion** These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial stat…Read the full text as markdown