---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-015163"
form_type: "8-K/A"
ticker: null
cik: "0001450335"
company_name: "Commonwealth Income & Growth Fund VII, LP"
filed_at: "2023-12-05T23:59:59+00:00"
generated_at: "2026-06-07T17:53:59.244027+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Commonwealth Income & Growth Fund VII restates FY 2022 financials; losses overstated by $54K

## Summary
- On Nov 27, 2023, General Partner concluded prior Q3 and Q4 2022 financials cannot be relied upon due to errors.
- Failed to record $91,597 lease payable and related lease revenue on inventory control system purchased Dec 2021.
- Estimated FY 2022 losses overstated by $54,000 due to omitted lease liability and revenue.
- Partnership is restating its 10-Qs and 10-K for fiscal 2022; revised indirect lease acquisition process implemented.

## SEC filing metadata
- accession: 0001654954-23-015163
- form_type: 8-K/A
- cik: 0001450335
- company_name: Commonwealth Income & Growth Fund VII, LP
- filed_at: 2023-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1450335/000165495423015163/0001654954-23-015163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1450335/000165495423015163/cigf7_8k-a.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-015163
- JSON: https://secwatch.observer/filing/0001654954-23-015163.json
- Plain text: https://secwatch.observer/filing/0001654954-23-015163.txt

## Key facts
- Auditor Changes
  Commonwealth Income & Growth Fund VII, LP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: MORISON COGEN, LLP
  source text: should no longer be relied upon due to errors in such financial statements, and therefore a restatement of these prior financial statements is required.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1450335/000165495423015163/0001654954-23-015163-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.