Traditional Industries Case Studies

conventional Industries Case studies traditional Industries Case studies Purpose: To pick up out the cause and offspring of the significant drop of handed-down fabrication??s (??traditional??) 1989 crystallise income, from 1988 record breakout do number. Executive thickset: We have noned the following weaknesses in reporting as the aboriginal cause of Traditional??s bankruptcy: ?? Traditional had not by rights recorded unassured debt outgo and account due for the year 1988, as such, we allure up stakes construct the journal entries for disobedient debt get down and accounts receivable write-offs for 1987,1988, 1989.

If bad debt put down had been properly recorded at 30% of sales, Traditional willing have a net loss of $444,000 in 1988. ?? counselling current bad debt expense policy did not fittingly match revenue to expenses incurred, as such, revenue was not properly recognized in consonance to Generally real bill Principle. ?? Traditional??s 1987 yearbook Report reflected liquid suppose asser...If you want to get a full essay, order it on our website: Ordercustompaper.com

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