NOTES TO FINANCIAL STATEMENTS
For the period ended October 31, 1999 (Unaudited)
1. SIGNIFICANT ACCOUNTING POLICIES.
Fidelity Intermediate Bond Fund (the fund) is a fund of Fidelity Commonwealth Trust (the trust) and is authorized
to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as
amended, as an open-end management investment company organized as a Massachusetts business trust. The
financial statements have been prepared in conformity with generally accepted accounting principles which require
management to make certain estimates and assumptions at the date of the financial statements. The following
summarizes the significant accounting policies of the fund:
SECURITY VALUATION. Securities are valued based upon a computerized matrix system and/or appraisals
by a pricing service, both of which consider market transactions and dealer-supplied valuations. Securities
(including restricted securities) for which market quotations are not readily available are valued at their fair value
as determined in good faith under consistently applied procedures under the general supervision of the Board of
Trustees. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily
available are valued at amortized cost or original cost plus accrued interest, both of which approximate current
FOREIGN CURRENCY TRANSLATION. The accounting records of the fund are maintained in U.S. dollars.
Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S.
dollars at the prevailing rates of exchange at period end. Purchases and sales of securities, income receipts and
expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the
Net realized gains and losses on foreign currency transactions represent net gains and losses from sales and
maturities of foreign currency contracts, disposition of fo