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EFD (Quants 2: Adjust 2016 YE income (YE Finished Goods and Raw materials,…
EFD
Quants 2: Adjust 2016 YE income
YE Finished Goods and Raw materials
Bill and hold revenue
Amortization - Sewing machine and reno
Bad debt
Other issues identified:
Vision and mission
Governance and oversight
Strategy and objectives
Quals:
Organic VS Regular
Ecommece vs HBL
Control issues
PO manual not automated
Bookkeeper sign cheque
Bookkeeper pay invoices. No review.
Inventory count only YE
Personal and business expense mixed up
Bank rec no review
Mannual recording on spreadsheet
Data Access issues
Policy and procedures
Competency of employees
Segregation of duty
Record revenue when orders sent out
Data backup
Quant 1: CM of Organic and regular
Organic expansion, financing concern and letting go concern
Review engagement - self review threat
Quants 3: 2017 Forecast regular or organic and compare with 2016