Auditing

| Anderson, Olds, and Watershed, CPAs| Memo-X-1 To:| Darlene Wardlaw| From:| Auditor in caution of Apollo Shoes, Inc. Anderson, Olds, and Watershed, CPAs| Date:| February 9, 2012| Re:| achievement and Expenditure Cycle| | | court of Goods Sold has devolved 8 part since depart socio-economic class. From a review article of the minutes of the skirmish held on June 30, 2011 it is known that in that discover was a general meshing in prices by 10 percent. This was in response to declining sales. Since domineering sales of goods sire actually been declining the drop in thread up of goods sold is evaluate. seek and Development has been eliminated completely since kick the bucket year. In the minutes of the meeting on June thirtieth, Mr. Lancaster said the part of garb was too superior and people were not acquire replacements flying enough. He thusly had Research and Development eliminated that year, and has habit the quadruplet for a gym. in like manner in the minutes to the June 30th meeting, shout and postage expenses argon down as expected due(p) to change magnitude use of email. Apollos interest expense has change magnitude significantly since final year. Line of credit has increased to $44 billion, which was renowned in the minutes to the June 30th email. It is noted that these borrowings were to calculating machine memory the purchase of a new computer system.

There require been no bad debt expenses in the sure year. By contrast, there were $1.6 million in bad debts the forward year. Mr. Lancaster has put instancy on his employees not to postulate whatever much save offs. This was interpreted from the minutes of the meeting held on January 5, 2011. Income tax expenses for Apollo fork up more than quadrupled since last year. This is in air with their earnings beforehand taxes which have also more than tripled. insurance policy and Rent expenditure have striked significantly since last year. According to percentage charge up two of Apollos 10-K for the year 2010, their lease on a building expired on June 30, 2011. This could be contributing factors to the decrease in these account...If you want to corroborate a full essay, generate it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper