FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
9th Edition
ISBN: 9781119493648
Author: Kimmel
Publisher: WILEY
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Chapter 12, Problem 12.12AP
To determine
To identify: the impact of transactions on free cash flow.
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Provide correct answer the following requirements on these financial accounting question
Your firm has been the auditor of Caribild Products, a listed company, for a number of years. The
engagement partner has asked you to describe the matters you would consider when planning the audit for
the year ended 31January 2022.
During recent visit to the company you obtained the following information:
(a) The management accounts for the 10 months to 30 November 2021 show a revenue of $260 million and
profit before tax of $8 million. Assume sales and profits accrue evenly throughout the year. In the year
ended 31 January 2021 Caribild Products had sales of $220 million and profit before tax of $16 million.
(b) The company installed a new computerised inventory control system which has operated from 1 June
2021. As the inventory control system records inventory movements and current inventory quantities, the
company is proposing:
(i) To use the inventory quantities on the computer to value the inventory at the year-end
(ii) Not to carry out an inventory count at the year-end
(c) You…
Chapter 12 Solutions
FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
Ch. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - Prob. 4QCh. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Why is it necessary to use comparative balance...Ch. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - Prob. 12QCh. 12 - Prob. 13QCh. 12 - Prob. 14QCh. 12 - Prob. 15QCh. 12 - Prob. 17QCh. 12 - Prob. 18QCh. 12 - Prob. 19QCh. 12 - Prob. 20QCh. 12 - Prob. 21QCh. 12 - Prob. 22QCh. 12 - Prob. 12.2BECh. 12 - Prob. 12.3BECh. 12 - Prob. 12.8BECh. 12 - Prob. 12.10BECh. 12 - The management of Uhuru Inc. is trying to decide...Ch. 12 - Prob. 12.13BECh. 12 - Prob. 12.1DIECh. 12 - Prob. 12.11ECh. 12 - Prob. 12.13ECh. 12 - Prob. 12.12APCh. 12 - Prob. 12.2EYCTCh. 12 - Prob. 12.3EYCTCh. 12 - Prob. 12.8EYCTCh. 12 - Prob. 12.9EYCTCh. 12 - Prob. 12.1IECh. 12 - Prob. 12.2IECh. 12 - Prob. 12.3IE
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