Very imp...Final Ac's query...PLz. (save my life)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
Question
Ms Janie, a client who has traded as a hardware merchant for the last five years, has told you that she finds difficulty in understanding the draft profit and loss account for the year ended 31 December 2010 which has been prepared by your assistant. Ms Janie’s main concern is that, although the accounts show a profit, the bank overdraft at 31 December 2010 was significantly higher than it was a year earlier.
Required:
Write a report, indicating your response and opinion to Ms Janie
Ms Janie, a client who has traded as a hardware merchant for the last five years, has told you that she finds difficulty in understanding the draft profit and loss account for the year ended 31 December 2010 which has been prepared by your assistant. Ms Janie’s main concern is that, although the accounts show a profit, the bank overdraft at 31 December 2010 was significantly higher than it was a year earlier.
Required:
Write a report, indicating your response and opinion to Ms Janie
24 June 2011
Hi, here u need to show why there is an OD. Prepare a cash flow statement to explain the same.
Regards, CA Shakuntala Chhangani
Regards, CA Shakuntala Chhangani
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