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Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2021
Accounting Policies [Abstract] |
Schedule of Estimated Useful Lives of Related Assets | Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows:
Equipment |  |  | 5 years |
Furniture and fixtures |  |  | 15 years |
Summary of Revisions to Consolidated Statements of Operations Due to Immaterial Correction of Error | The following table summarizes these revisions, which had no effect on previously reported net income:
|  | Three Months Ended September 30, 2020 |  |  | Nine Months Ended September 30, 2020 |
Operating Revenues: |  |  |  |  |  |  |  |
Advisory fees (previously reported) |  | $ | 63,919 |  |  | $ | 184,077 |
Amounts collected on behalf of third parties |  |  | (891 | ) |  |  | (2,380 | )
Advisory fees (as corrected) |  | $ | 63,028 |  |  | $ | 181,697 |
Total revenues (previously reported) |  | $ | 64,640 |  |  | $ | 186,640 |
Amounts collected on behalf of third parties |  |  | (891 | ) |  |  | (2,380 | )
Total revenues (as corrected) |  | $ | 63,749 |  |  | $ | 184,260 |
Operating Expenses: |  |  |  |  |  |  |  |
Fund management and administration (previously reported) |  | $ | 15,219 |  |  | $ | 44,165 |
Amounts collected on behalf of third parties |  |  | (891 | ) |  |  | (2,380 | )
Fund management and administration (as corrected) |  | $ | 14,328 |  |  | $ | 41,785 |
Total operating expenses (previously reported) |  | $ | 49,896 |  |  | $ | 144,465 |
Amounts collected on behalf of third parties |  |  | (891 | ) |  |  | (2,380 | )
Total operating expenses (as corrected) |  | $ | 49,005 |  |  | $ | 142,085 |
Summary of Reclassifications on Consolidated Statements of Cash Flows to Conform to the Current Year's Presentation | The following table summarizes these reclassifications for the nine months ended September 30, 2020:
|  | Nine Months Ended September 30, 2020 |
Consolidated Statements of Cash Flows: |  |  |  |
Cash Flows from Operating Activities |  |  |  |
Net cash provided by operating activities (previously reported) |  | $ | 15,568 |
Reclassification of net cash flows from securities purchases and sales |  |  | 16,561 |
Net cash provided by operating activities (currently reported) |  | $ | 32,129 |
Cash Flows from Investing Activities |  |  |  |
Net cash provided by investing activities (previously reported) |  | $ | 28,515 |
Purchases of securities owned, at fair value |  |  | (34,683 | )
Proceeds from the sale of securities owned, at fair value |  |  | 18,122 |
Net cash provided by investing activities (currently reported) |  | $ | 11,954 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
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