The monthly accounts are nearly ready, but finance needs another day to make adjustments. A supplier expense has been recorded under the wrong department, payroll figures need to be reallocated, and a spreadsheet total does not agree with the accounting system. The...
The company has not taken on customers for some time. Its original project ended, the business moved into another entity, or the owners decided against pursuing the opportunity. Yet the company remains registered, and someone still needs to deal with its records,...
Your finance team has completed the year-end bank reconciliation. The balance in the accounts agrees with the bank statement, and any outstanding items have supporting explanations. From management’s perspective, the cash balance appears settled. Then the auditor asks...