Have both the profit and loss account and the balance sheet been prepared in accordance with the
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Have both the profit and loss account and the balance sheet been prepared in accordance with the requirements of the Companies Act 1985?
Many of the questions that we have suggested in previous chapters that nonaccountants should ask are of relevance in this chapter. For example, the various accounting rules adopted by the accountants in preparing the company’s profit and loss and balance sheet, especially those have a significant impact on revenue recognition, stock valuation, depreciation and provisions for bad and doubtful debts.
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