Accounting Assignment Question?
Hi stuck on a question for my accounting assignment it is, "List examples of the diffrent information managers will need when making decisions about creditors, debtors, stock and cash". If you could give me any guidence or headings it would be appreciated. Thanks
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Answer 1 :
Creditors : Whether creditors for goods or on some other transaction. What is the oldest creditors and why not yet paid. List of creditors on sales return if any. Whether interest is paid to the any of the creditors, if so why? List of creditors with litigation, if any. Debtors List of debtors more than one month.Any specific reason why the old debtors are not paying. List of long overdue debtors. List of debtors marked bad debts with details. List of debtors on goods sold and other debtors. Stock List of costly stock kept more than the required period. What is the minimum level of the costly stocks. List of Economic Quantity of costly stocks Whether any production process was affected for want of stock. List of stock not in use. System of stock control. List of imported stocks Procedure in disposal of old unused stock, waste and scraps Cash Copy of cash flow statement. How the excess cash was used ? Steps taken to adjust the shortage of cash
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